United States Attorney Mary Beth Buchanan announced today, May 7, 2008, that Anthony Fields, a resident of Pittsburgh, Pennsylvania, pleaded guilty in federal court to a charge of Wire Fraud Conspiracy.

Fields, age 38, pleaded guilty to one count before Chief United States District Judge Donetta Ambrose.

In connection with the guilty plea, Assistant United States Attorney Brendan T. Conway advised the court that Fields participated in a mortgage fraud conspiracy with, among others, his sister-in-law, Kelly Fields, who was an unlicensed mortgage broker. As part of the scheme, Kelly Fields recruited buyers to purchase properties for prices much higher than the true market value of the properties.  Kelly Fields would then obtain financing for these buyers by submitting to the lenders fraudulent loan applications that misrepresented the financial condition of the buyers.  In addition, Kelly Fields submitted fraudulent documents in support of the applications, including false pay stubs, W-2s, verifications of deposit and employment, and appraisals.  Once the loans were funded by the lenders, in order to compensate the co-conspirators, the funds were distributed contrary to representations to the lenders.

Judge Ambrose scheduled sentencing for September 10, 2008.  The law provides for a total sentence of 20 years in prison, a fine of $250,000, or both.  Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the criminal history, if any, of the defendant.

The Mortgage Fraud Task Force conducted the investigation that led to the prosecution of Anthony Fields.  The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry.  Federal law enforcement agencies participating in the Mortgage Task Force include the Federal Bureau of Investigation; the Internal Revenue Service, Criminal Investigations; the United States Department of Housing and Urban Development, Office of Inspector General; the United States Postal Inspection Service; and the United States Secret Service.  Other Mortgage Fraud Task Force members include the Allegheny County Sheriff's Office; the Pennsylvania Attorney General's Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee's Office.