Savage Man Sentenced In $13M Mortgage Scheme

MINNEAPOLIS (WCCO) — A Savage, Minn. man has been sentenced to nearly four years in prison after making a plea agreement in a $13 million mortgage fraud scheme.

Ericyan Anthony McDavid, 37, was indicted with two others in the summer of 2010. He pleaded guilty to the crime over a year ago.

According to the U.S. Department of Justice, McDavid admitted to obtaining loan proceeds fraudulently from 2005 through 2009 as owner of several businesses.

The justice department says McDavid admitted to recruiting straw buyers to purchase properties, offering funds toward the purchase with no intention of paying back the loans.

By carrying out the scheme on at least 25 real estate transactions, McDavid was able to receive about $13 million in fraudulent loans.

Two co-defendents — Larry Africanus Hutchinson, 41, of St. Paul; and Jerone Ian Mitchell, age 36, of Minneapolis — were also sentenced to time in prison. His sister Renee Lynise McDavid, 40, was also sentenced to three years of probation on a count to commit wire fraud.

  • james

    Where is all the money at now

  • I'm not to bright

    really? somebody has a middle name of Africanus, at least his buddy’s name is Jerone (not Jerome, but Jerone) People should not be allowed to name their children while high on crack

  • mike

    Four years? They should be sent to prison for up to ten years. Don’t expect these punks to pay back all the money they conned out of their victims either.

  • Kevin

    “Africanus “…..
    Hey Minnesota….are you done? Or are you ready for more!!!!!!!!!!!!!!!!

    • thesuperman

      Kevin, What do expect when we keep importing these douch bags from Africa?

  • Liquid Nails

    4 years..quite piddly.
    Should be 1 year for every million, period.

  • wimpy

    Liquis nails-I agree with you. If a person held up a SA with a plastic pistol and got $40, they would probably get 5 years.

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