A Westminster woman who filled out and filed false paperwork in mortgage fraud involving a Broomfield subdivision was sentenced to two years in prison and ordered to pay back more than $1.7 million, the full amount lost in the scam.
Kathy J. Mascarenas, also known as Kathy Oliver, 53, also must spend three years on probation when she is released from prison, according to her sentence in federal court.
She pleaded guilty to two counts of wire fraud in March. Co-defendant Katrina Roberts was sentenced to 20 months in prison in July and co-defendant Steven Mascarenas, who pleaded guilty in July, will be sentenced on Nov. 16.
The scam related to some homes sold in The Broadlands subdivision in Broomfield between December 2004 and February 2007.
“Mortgage fraud directly threatens the financial health of the communities in which we live, Lilia Ruiz, acting special agent in charge of the Internal Revenue Service’s Criminal Investigation Denver Field Office, said in a statement. “IRS CI will work diligently with our law enforcement partners to insure mortgage fraud is vigorously investigated and individuals are brought to justice.”
