News and Tribune

Police & Fire News

November 26, 2012

Jeffersonville man sentenced to 15 months for bank fraud

He conspired with five others by submitting fraudulent mortgage loan information

LOUISVILLE — A Jeffersonville man was sentenced to 15 months in prison and ordered to pay $487,111 in restitution after pleading guilty to engaging in a conspiracy with five indicted co-defendants to commit bank and wire fraud in U.S. District Court.

Dane Little admitted to intentionally devising a scheme to defraud several banks and mortgage lenders by submitting fraudulent mortgage loan information in the purchase of 19 properties in Louisville and Jeffersonville, totaling nearly $5 million in value, according to Western District of Kentucky U.S. Attorney David J. Hale.

“Combating mortgage fraud is a priority of the Department of Justice and my office,” Hale said in according to a press release. “We will continue to work with the FBI and our other important partners, such as the Kentucky Department of Financial Institutions, to stop these crimes and bring these people to justice.”

According to the indictment, Little conspired with Louisville resident Stephen C. Netherton and Jeffersonville residents Shawn Bramlett, Billy D. McDaniels, Kyle Kark and Mark Hack to defraud several lending companies by providing false information on loan applications. After loan applications were approved for funding, the loan proceeds were wire transferred to various bank accounts in Louisville.

All of the defendants have plead guilty to the charges. Little is the second co-defendant to be sentenced. Netherton was sentenced to 24 months in prison and ordered to pay $870,000 in restitution.

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