Jason Madow Mortgage Fraud – A Lesson for Everyone

Jason Madow the Mortgage Broker and his partner cum friend Willy Croone was wily and cunning as his name. They both ran a company called the 21st Century Mortgage Firm together in California. Willy felt that a mortgage firm is an easy way to trick people into giving their company huge sums of money, without even realizing the fraud behind it. And he was right too, but what he didn’t realize that money earned through unethical means will come to an end one day, if not sooner than later. Here is where he went wrong. Whatever it is if any criminal knows the future he wouldn’t get into the scam at all, similarly with Willy, he somehow coaxed his friend and partner Jason into it. They started off by convincing a lot of mortgage lenders into financing for a lot of hotels, which were on the brink of bankruptcy. There’s nothing wrong in this, but what they did was they hiked the price of these hotels and portrayed it to their lenders. Two years into this scam, both were caught in 200