CHARLESTON, S.C. (AP) — A federal judge has sentenced a Summerville man to three years in prison after he pleaded guilty to charges in a mortgage fraud that cost lenders almost $24 million.
The Post and Courier of Charleston reports that 36-year Scott Wickersham was sentenced in Charleston on Monday.
Wickersham had pleaded guilty in 2013 to one count of conspiracy and two counts of filing false tax returns.
Authorities say the scheme during the mid-2000s involved securing mortgages for more than 90 properties in coastal South Carolina and Georgia based on inflated property values.
Prosecutors said the extra cash was either divided up or reinvested to keep the fraud going. The scheme collapsed when the real estate market tanked in 2007.