SIOUX CITY, Iows (CN) – A 60-year-old real estate broker was sentend to nearly 5 years in federal prison for stealing $324,000 in mortgage loans during real estate closings, the U.S. Attorney’s Office said.
Jean Teresa Hoffert, of Emmetsburg, Iowa, was sentenced to 57 months in prison and ordered to pay $324,088.05 in restitution.
She pleaded guilty to one count of mail fraud in July 2011.
According to court records, Hoffert, as settling agent, failed to pay off previous loans that were supposed to be closed out after mortgage loan refinancings. In some cases, the loans were paid off late. A total of $400,000 was taken from more than 10 victims.
Hoffert remains free on bond. The date for her surrender to prison has yet to be set.