September 15, 2014

By Bob Coleman
Editor, Coleman Report

whitepicketfenceOr, use your neighbor’s house as collateral for a c-store loan in Stover, Missouri.

So sayeth the feds against Carol Noble who used the house next door for a $185,000 loan by Central Trust Bank in Jefferson City.

Carol transposed the address in her loan application. Why? Seems the neighbor’s house is worth $100,000 more than her house.

Now get this. Carol even met the appraiser at the neighbor’s house!

She then “signed and submitted loan documents to CTB knowing that they falsely represented her residence at 33756 Deercreek road, Gravois Mills, Missouri as collateral valued at $128,000 for her commercial loan.”

She faces 20 years in jail and a $250,000 fine.

Read the Indictment here