WCAV-WVAW-WAHU | Charlottesville, Virginia | News

NC Man Sentenced in Va. for Mortgage Fraud

June 22, 2010

A North Carolina man who pleaded guilty to defrauding commercial mortgage lenders will spend 20 months in a federal prison.

U.S. Attorney Neil MacBride says 40-year-old Stephen M. Gunther of Hertford, N.C. also must pay more than $231,000 in restitution.

Gunther had pleaded guilty in March to wire fraud. He was sentenced Monday in federal court in Norfolk.

MacBride says Gunther, who has a law office in Virginia Beach, acted as a settlement agent in closing four home loans totaling about $978,500 in 2006. Gunther secretly used his own money to pay closing costs on behalf of straw buyers and subsequently was reimbursed by a third party. He also disbursed proceeds to a third party instead of to the seller.

The comments sections of Newsplex.com are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we only ask that you use your best judgment. E-mail is required, but will not be displayed with comment.

  • Comments cannot be profane or vulgar. We will not post comments that use profanity or cross the lines of good taste.
  • We will not post comments that use hate speech. Slurs, stereotypes and violent talk aren’t welcome on our website.
  • Comments should not attack other readers or people featured in our stories personally. Any accusations should be backed up with facts.
  • Any comment we post will be posted in its entirety. We do not edit any comment that we post.
  • Comments should contribute to the discussion. We will not post comments that don't advance the discussion. Flaming and/or trolling will not be tolerated.
  • Comments should not attack other posters. Let's keep the focus on the content of the story.

    As a host Newsplex.com welcomes a wide spectrum of opinions. However this is a site that we host. We have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason The Newsplex reserves the right to not post or to remove any comment.

    If you have any ideas to improve the conversation or this section let us know. Send an e-mail to webmaster@newsplex.com.


powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 96885154