The trial involved former Baltimore State's Attorney Marilyn Mosby, who testified that she unintentionally made false statements on loan applications to purchase two vacation homes in Florida. The jury declared a split decision, finding Mosby not guilty on a second mortgage fraud charge.
"We humbly respect the court's considered rulings, opposing counsels' zealous advocacy, and the wisdom of both jury verdicts in this case and we remain focused on our mission to uphold the rule of law," said United States Attorney for the District of Maryland Erek L. Barron, who led the prosecution.
The federal criminal charges came from allegations that Mosby claimed to be dealing with Wuhan coronavirus (COVID-19) pandemic-linked hardship to make early withdrawals from her retirement account, then used that money as down payments on the Florida properties. Prosecutors claimed she lied multiple times on mortgage applications. (Related: Explosive revelation: Fani Willis linked to massive election fraud and money laundering RICO enterprise.)
Mosby purchased an eight-bedroom house near Disney World and a beachside condo on the Gulf Coast, worth almost $1 million combined. In February 2021, Mosby made a false statement on an application for a $428,400 mortgage to buy the Long Boat Key home, according to prosecutors.
When applying for that loan, Mosby falsely stated that she had received a $5,000 gift from her then-husband – Baltimore City Council President Nick Mosby – to be applied to the purchase of the property.
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"According to the evidence presented at trial, Mosby did not receive a $5,000 gift from her husband but rather transferred $5,000 to him, and he then transferred the $5,000 back to her," the prosecutors said.
The purported gift, which prosecutors traced back to her own account, is what led to her conviction, as reported by The Sun. To ensure a conviction, prosecutors had to prove she intentionally made a false statement that affected the mortgage application process.
Mosby faces up to 40 years in prison
Mosby was previously convicted on two counts of perjury in a separate criminal trial that took place in November.
Sentencing dates for both the mortgage fraud and the perjury cases have not been announced. Mosby faces up to 30 years in federal prison for making a false mortgage application. She also faces a maximum sentence of five years for each count of perjury.
Formerly a political power couple in Baltimore, the Mosbys met in college and have two daughters together before they divorced in November. In the perjury case, a different jury found that Mosby lied about undergoing financial losses so she could withdraw money from her retirement account.
During the closing arguments, prosecutors told jurors that Mosby deliberately told seven different lies on the mortgage applications in an attempt to convince lenders to provide her the loans and a lower interest rate she needed to buy the two properties. They claimed that Mosby knew completely what she was doing the entire time.
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