twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.

P R E S S   R E L E A S E


April 9, 2012


Preet Bharara, the United States Attorney for the Southern District of New York, announced that ADRIAN BUSBY, a former Special Agent with the New York Division of the Federal Bureau of Investigation ("FBI"), was sentenced today in Manhattan federal court to one year and one day in prison for making false statements. BUSBY was convicted in November 2011 after a five-day jury trial. U.S. District Judge Harold Baer, Jr. presided over the trial and imposed today's sentence.

Manhattan U.S. Attorney Preet Bharara said: "Adrian Busby told lie after lie to cover up his ethical breaches, betraying both his oath of office and his fellow agents. His punishment is both appropriate and just."

According to the trial evidence and other documents filed in the case:

In early 2008, BUSBY signed up a woman who was the target of an identity theft case being prosecuted by the New York City Police Department ("NYPD") and the Queens County District Attorney's Office as an FBI confidential source (the "Confidential Source"). When he signed up the Confidential Source, BUSBY certified on an FBI form that she was not the subject or target of any investigation. In fact, mere days before making this representation on the form, BUSBY had called both the lead NYPD detective and the Queens Assistant D.A. investigating the identity theft case to try to convince them to halt an ongoing investigation of the Confidential Source. Notwithstanding BUSBY's efforts, the Confidential Source was ultimately indicted and convicted on felony charges in Queens County.

BUSBY was intimately involved with the Confidential Source and helped her prepare her defense by divulging confidential witness reports and grand jury materials, in violation of FBI rules. For example, BUSBY supplied the Confidential Source and her defense attorney with copies of confidential FBI and Internal Revenue Service ("IRS") reports of interviews he and other agents had conducted as part of a separate federal mortgage fraud investigation related to her case, and supplied them with secret information gathered pursuant to federal grand jury subpoenas. In addition, he unsuccessfully lobbied his supervisor and an Assistant U.S. Attorney in another office for permission to testify on the Confidential Source's behalf at her trial, and repeatedly asked the Assistant U.S. Attorney to ask the Queens Assistant D.A. to dismiss the case against her. After the Confidential Source was convicted at trial, BUSBY contacted the main witness who had testified against her, and insisted that the witness submit to an interview with him at his FBI office.

In December 2009, when BUSBY's supervisor learned that confidential FBI and IRS reports had been disclosed to the Confidential Source's attorney, she confronted BUSBY, who denied having done so. He subsequently put that denial in writing, stating that he must have accidentally left copies of the reports in the lawyer's office. As BUSBY's actions were coming under closer scrutiny, allegations came to light that he had had an inappropriate sexual relationship with the Confidential Source. When his supervisor asked about these allegations, BUSBY denied them as well.

In April 2011, after the U.S. Department of Justice Office of Inspector General ("DOJOIG") began investigating him, BUSBY attended a meeting with DOJ-OIG and a prosecutor with the U.S. Attorney's Office for the Southern District of New York. During that meeting, BUSBY claimed that he had not known the Confidential Source was under investigation when he signed her up, and that he did not begin any sexual relationship with her until after she was no longer an FBI source. BUSBY also repeated his false claim that he had not intentionally given any FBI or IRS reports to her attorney.

BUSBY was charged and convicted of making four false statements: (i) lying to the FBI on the January 2008 form opening the Confidential Source; (ii) lying to the FBI in December 2009 about whether he had intentionally given FBI reports to the Confidential Source's attorney; (iii) lying to DOJ-OIG in April 2011 about whether he knew the Confidential Source was under investigation when he had signed her up as a source; and (iv) lying to DOJ-OIG in April 2011 about whether he had intentionally given the FBI reports to the Confidential Source's attorney. The evidence presented at trial included text messages BUSBY sent the defense attorney and witness testimony, including testimony from the defense attorney.

In addition to the prison term, Judge Baer sentenced BUSBY, 38, of El Paso, Texas, to one year of supervised release and ordered him to pay a $400 special assessment fee. BUSBY is scheduled to surrender on May 15, 2012.

Mr. Bharara thanked the DOJ-OIG and the Queens County District Attorney's Office for their assistance in the investigation.

The case is being handled by the Office's Public Corruption Unit. Assistant U.S. Attorneys Alvin Bragg and Sarah McCallum are in charge of the prosecution.

Source: United States Attorney's Office for the Southern District of New York

Local Mortgage Fraud news
News about local mortgage fraud.

Logout forgot

Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.

Mortgage Fraud Index
Dollar and index amount by quarter and state.

Mortgage Fraud Litigation
Lawsuits and settlements invoving mortgage fraud by a lender insider. From 2007 through first-quarter 2013

Mortgage Fraud News
News stories about fraud committed against home lenders.

Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.

local mortgage fraud

mortgage fraud links

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders