The owner of a Portland mortgage company has been sentenced to three years and five months in prison for making false statements to financial institutions.
Acting U.S. Attorney Kent Robinson said Tuesday that the 46-year-old Lee Howlett pulled off a series of fraudulent home mortgage deals through falsified loan applications and fake appraisals.
Robinson says the transactions occurred between 2003 and 2005, and the financing totaled about $3.7 million. Financial institutions sustained losses of between $400,000 and $1 million.
Howlett pleaded guilty in February.
