- Associated Press - Friday, October 17, 2014

SAN DIEGO (AP) - A J.P. Morgan Chase banker has pleaded guilty in San Diego to taking bribes to influence mortgage sales.

Federal prosecutors say Lynda Sanabria pleaded guilty Friday to conspiracy to commit bank bribery and tax evasion. She could face up to five years in prison.

In her plea deal, Sanabria acknowledged taking $200,000 from San Diego businessman Israel Hechter and his associates to provide inside information about bidding on mortgages that Chase sold on the secondary market.

Authorities say that helped ensure Hechter won the bids. He then pooled the mortgages and sold shares to investors.

Hechter pleaded guilty last month and acknowledged he paid $1 million in bribes to Sanabria and others.

Four other people also have pleaded guilty to taking part in the conspiracy and await sentencing.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide