Originally Syndicated on August 8, 2024 @ 1:39 am
Jason Trador, aged 46 and residing in Scott Depot, West Virginia, was found guilty on April 10, 2024, for multiple counts related to deceitful practices against federal authorities, including making a false statement to federal agents, intentionally inflating property values on a loan application, and three counts of providing false statements to the United States Department of Housing and Urban Development (HUD).
The evidence presented during the trial highlighted Trador’s fraudulent acquisition of a home mortgage totaling $223,870 that was insured by the Federal Housing Administration (FHA). This scheme was perpetrated through his employer at the time, Victorian Finance LLC, a business engaged in mortgage lending. Trador’s application for the FHA loan, which took place in August 2018, was tainted by his failure to pay federal taxes from a prior year, rendering him ineligible for the FHA loan according to the guidelines that govern the program. To circumvent these eligibility requirements, Trador engaged in a calculated deception, securing approval for the mortgage application and FHA insurance by submitting a series of altered documents. Notably, he provided a forged Internal Revenue Service (IRS) tax transcript that falsely indicated he had resolved his delinquent tax debt of $8,151.
In addition to the falsified IRS documentation, Trador manipulated several bank statements submitted to Victorian Finance. These altered statements significantly exaggerated his bank account balances—reporting figures such as approximately $27,000 and $15,000 for his personal account, which, in reality, were devoid of funds and even displayed negative balances. Critical details, including charges for insufficient funds, were omitted from these falsified documents, and Trador even added deceptive entries to mislead Victorian Finance into believing he had paid off his outstanding tax obligation. The evidence later demonstrated that this supposed payoff was fabricated, and as of March 2024, Trador remained in arrears concerning his federal tax debt.
On September 4, 2018, he took further steps to misrepresent his financial status by willfully overvaluing his assets in his loan application, as indicated by his signature on a Uniform Residential Loan Application that incorporated the inflated balances from the tampered bank statements.
When confronted on May 6, 2022, by investigators from HUD’s Office of Inspector General (OIG) and the Federal Bureau of Investigation (FBI) at his home regarding the FHA-insured mortgage application, Trador continued his deceit. He fabricated lies, denying the submission of the falsified bank statements and deflecting blame onto his colleagues at the mortgage lending company, claiming they were responsible for the inclusion of those erroneous documents in the FHA loan file.
Trador is currently scheduled for sentencing on July 29, 2024, and he faces the possibility of receiving a maximum sentence of 41 years in prison for his actions.
“Loan officers are supposed to be gatekeepers who protect the integrity of the FHA program. Mr. Trador abused his position of trust as a loan officer and used his knowledge of FHA requirements to obtain a mortgage he knew he did not qualify for, and then lied in an attempt to conceal his scheme,” said United States Attorney Will Thompson. “I commend HUD OIG and the FBI for their investigative work in this case, and Assistant United States Attorneys Andrew J. Tessman, Jonathan T. Storage and Erik S. Goes and our trial team for prosecuting the case and securing guilty verdicts on all five counts.”
“The integrity of the FHA loan program is essential to helping hard working citizens realize the American dream of homeownership,” said Special Agent-in-Charge Shawn Rice with the U.S. Department of Housing and Urban Development Office of Inspector General. “This case demonstrates HUD OIG’s enduring commitment to working with U.S. Attorney’s Office for the Southern District of West Virginia and the FBI to investigate and hold accountable those who seek to jeopardize this program and the health and stability of the nation’s housing market. I’d like to sincerely thank the U.S. Attorney’s Office and the entire investigative team, led by U.S. Attorney Thompson, for its tireless efforts to bring this matter to a just conclusion.”
United States District Judge Robert C. Chambers oversaw the jury trial. A copy of this press release is available on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Additional court documents and information can be accessed through PACER by searching for Case No. 3:23-cr-117.
