Columbia woman sentenced for mortgage fraud, embezzlement

2 years 3 weeks 6 days ago January 29, 2015 Jan 29, 2015 Thursday, January 29 2015 Thursday, January 29, 2015 8:35:00 AM CST in News
By: Christina Santiago, KOMU 8 Digital Producer

JEFFERSON CITY - A Columbia woman has been sentenced in federal court for a $576,000 mortgage fraud and embezzlement scheme.

U.S. District Judge Brian C. Wimes sentenced Terri Lynn Johnson, 50, to two years and six months in federal prison without parole Wednesday. The court also ordered Johnson to pay $405,653 in restitution.

Johnson began working in a clerical position for Guaranty Land Title Company in 2001. After the company was acquired by Landchoice Company, LLC, she was promoted to branch manager of the Fulton office, where she remained until 2008.

On July 11, 2013, Johnson pleaded guilty to bank fraud and money laundering. Johnson admitted to engaging in a $300,000 mortgage fraud scheme while working as the Fulton branch manager. Johnson refinanced the mortgage on her residence twice. Two banks approved mortgage loans for $175,000 in 2007 and $125,000 in 2008, based on false information Johnson provided. Both loans exceeded the appraised value of Johnson's residence, which was used to secure both loans.

Johnson also admitted to embezzling $276,173 from Landchoice. Johnson diverted income checks from Landchoice into a bank account that had been opened for Guaranty Land Title Company, which her employer did not know existed. She also diverted escrow funds obtained by Landchoice for loan closings, into that account.

Johnson then wrote checks to herself which she deposited into her personal checking account. Johnson wrote checks totaling approximately $59,465 payable to herself or to cash. Johnson also wrote checks to her personal business totaling approximately $12,500. She wrote checks believed to be for her personal use totaling approximately $19,916. In addition, Johnson utilized a debit card issued for the account, accessing $184,292 from that account for her personal benefit. Johnson gained approximately $276,173 for personal gain from this embezzlement scheme.

Supervisory Assistant U.S. Attorney Lawrence E. Miller prosecuted this case. The FBI, IRS-Criminal Investigation, the Fulton, Mo., Police Department, the Missouri State Highway Patrol and the Missouri Department of Insurance.

More News

Grid
List
CAMDEN COUNTY - The Camden County Sheriff's Department has issued a Missing Endangered Person Report for Chad Hawk. Hawk was... More >>
46 minutes ago February 25, 2017 Feb 25, 2017 Saturday, February 25 2017 Saturday, February 25, 2017 4:41:00 AM CST in News
COLUMBIA - The Boone County Sheriff's Department has noticed a decrease in the number of concealed carry permit applications and... More >>
7 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 10:03:00 PM CST in Top Stories
MOBERLY - A non-profit held an open house Friday for people to learn about a program that helps disabled people... More >>
9 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 7:41:00 PM CST in Top Stories
COLUMBIA – When Deronne Wilson arrived at the First State Community Bank, he was expecting a job evaluation. Instead, friends... More >>
10 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 7:01:00 PM CST in Top Stories
COLUMBIA - Residents of Columbia have the chance Saturday to express their opinions in a public forum held by the... More >>
11 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 5:52:00 PM CST in News
KANSAS CITY, Mo. (AP) — Kansas City residents will vote in August on whether to raise the city's minimum wage... More >>
12 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 4:41:00 PM CST in News
COLUMBIA - Chrystal Sadler never imagined she'd be where she is today. "My mom told me at 15 I'd... More >>
13 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 4:08:08 PM CST in News
COLUMBIA – Columbia Public Schools Board of Education is accelerating the process to build the first new middle school in... More >>
14 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 3:23:00 PM CST in Top Stories
JEFFERSON CITY - Up to 140 J.C. Penney stores across the country will close, the chain announced Friday. The... More >>
14 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 2:52:00 PM CST in Top Stories
ST. LOUIS (AP) — For the third time since 2009, a St. Louis family is dealing with the loss of... More >>
14 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 2:51:00 PM CST in News
ST. CHARLES, Mo. (AP) — Federal investigators have ruled that the fire that destroyed a suburban St. Louis country club... More >>
14 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 2:40:00 PM CST in News
JEFFERSON CITY (AP) — Missouri has approved more than $54,000 for remodeling the Capitol office of new Lt. Gov. Mike... More >>
16 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 1:17:00 PM CST in News
COLUMBIA - Tax-filing season is in full swing and some want to take advantage of it. The Internal Revenue Service... More >>
17 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 12:04:00 PM CST in News
JEFFERSON CITY (AP) — Gov. Eric Greitens has appointed two former Missouri senators and the new Department of Revenue director... More >>
17 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 11:46:08 AM CST in News
ST. LOUIS (AP) — A streetcar that will operate in the Loop area of St. Louis and adjoining University City... More >>
21 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 7:49:51 AM CST in News
COLUMBIA - When someone overdoses on heroin or another opioid, the drug slows down their central nervous system until they... More >>
23 hours ago February 24, 2017 Feb 24, 2017 Friday, February 24 2017 Friday, February 24, 2017 6:02:00 AM CST in Top Stories
COLUMBIA - A Moberly woman was charged Tuesday in Boone County for abusing a 12-year-old Columbia boy. Stacey Robertson,... More >>
1 day ago February 23, 2017 Feb 23, 2017 Thursday, February 23 2017 Thursday, February 23, 2017 10:23:00 PM CST in News
MONITEAU COUNTY – The Moniteau County Sheriff's Office arrested 10 people during a drug bust Wednesday. The sheriff's office... More >>
1 day ago February 23, 2017 Feb 23, 2017 Thursday, February 23 2017 Thursday, February 23, 2017 8:19:00 PM CST in News
Columbia, MO
Broken Clouds 27°
6am 27°
7am 26°
8am 27°
9am 29°

Select a station to view its upcoming schedule:

Coming Up Next

5:00a
Paid Program
5:30a
On the Money
6:00a
KOMU 8 News Today
5:00a
Paid Program
5:30a
Paid Program
6:00a
Paid Program

Tonight's Schedule

7:00p
NHL Hockey
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld