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American mortgage broker Cheryl Joan Kassebaum is facing 45 years in federal prison after pleading guilty to conspiracy, wire fraud and money laundering.
Ms Kassebaum was indicted last November, after it was found she had submitted fraudulent home loans.
According to the U.S. Attorney’s office, Ms Kassebaum reportedly laundered more than $497,200 in a scam that involved seven houses with mortgages ranging from $200,000 to more than $400,000.
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Ms Kassebaum, whose sentence hearing is pending, also faces a $1.5 million fine.
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