Leawood mortgage broker pleads guilty to fraud

A defendant in a $14 million bank fraud indictment has pleaded guilty to mortgage fraud.

Wildor Washington Jr., 39, of Leawood pleaded guilty to one count of conspiracy, seven counts of wire fraud and three counts of money laundering.

In his plea, Washington admitted in 2003 that he conspired with other defendants to obtain mortgage loans by substituting inflated property appraisals and other false information to lenders, according to a statement from U.S. Attorney Lanny Welch in Kansas City, Kan.

Sentencing on Washington is scheduled for Feb. 8. He faces a maxiumum penalty of 20 yeas and a fine up to $250,000 on each of the wire fraud charges; a maximum penalty of five years and a fine up to $250,000 on the conspiracy charge; and a maximum penalty of 20 years and a fine up to $500,000 on each count of money laundering.

Four co-defendants are scheduled for sentencing either next month or in early January.

A fifth co-defendant, Scott Alexander, was sentenced recently to 12 months and a day and ordered to pay more than $1.7 million in restitution.