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Kansas City Couple Await Jury Verdict on Mortgage Fraud Case

By McNabb Associates

Executive Katheryn Shields and her husband, Philip Cardarella, are on trial along with Monty Kinman and Rick Peterson in connection with the proposed $1.2 million sale of Sheilds? house last year.[1] The house had been on the market for about $700,000. Federal prosecutors alleged that the defendants were part of a conspiracy to sell the Kansas City home at an inflated price.[2] It is asserted that this occurred when Shields and Cardarella allegedly signed closing documents that falsely misstated a $1.2 million sales contract price for the home.[3]The jury deliberated about four hours Friday in Kansas City before heading home for the weekend, and resumed deliberations about 8:20 AM on Nov. 5.[4]Shields and Cardarella are charged with mortgage fraud which is covered under 18 U...continue to full post

Full post as published by Federal Crimes Blog on November 05, 2007 (boomark / email).