(Cedar Rapids)– An Emmetsburg real estate broker who federal prosecutors say stole mortgage loan proceeds has pleaded guilty to mail fraud.
The U.S. Attorney’s Office says 59-year-old Jean Hoffert pleaded guilty Tuesday in U.S. District Court in Cedar Rapids.
Prosecutors say she defrauded others out of money and failed to pay off prior mortgage loans that were supposed to be paid off during loan refinancing. In other cases, loans were paid off late.
The U.S. Attorney’s Office says HOffert used the U.S. Mail as part of the fraud.
She faces up to 57 months in prison and a $25,000 fine. Sentencing wasn’t immediately scheduled.
