On behalf of Law Offices of Dan C. Guthrie, Jr. on Monday, March 24, 2014.

Six people have been indicted and arrested in connection with a mortgage fraud conspiracy alleged to have occurred in the Eastern District of Texas.

A five-count indictment charges the following individuals with conspiracy to commit mail and wire fraud:

Lawrence Michael Day, 63, of Fort Worth, Texas

Donna Shirley Cobb, 52, of Aledo, Texas

Bryan Jerome Scott, 42, of Spring, Texas

Michael Jerome Edwards, 40, of Flower Mound/Lewisville, Texas

Scott Cameron Sherman, 37, of Mansfield, Texas

Donald Lee Mattox, 40, of Mansfield, Texas

The indictment states that from September 2005 through July 2008, the defendants conspired defraud lending institutions by obtaining home loans using false information.

According to the indictment, Day recruited a buyer like Mattox, to submit false loan applications for home mortgages.

Edwards and Scott are alleged to be loan officers who falsified materials regarding employment and rental income on the loan applications.

Sherman and Mattox are stated in the indictment to be homebuilders who allowed the actual purchase price of their homes to be overstated on the loan documents.

Cobb is alleged to be an escrow officer who prepared false documents reflecting purchase prices and disbursements.

The conspiracy extended to transactions on 28 Texas residential properties located in Fort Worth, Frisco, Fairview, Dallas, McKinney, Cedar Hill, Prosper, Cresson, Watauga, Euless, Hurst, Heath, Murphy and Plano.

Day, Edwards, and Sherman are also charged with two counts of wire fraud, andDay is charged with two counts of aggravated identity theft.

If convicted of the conspiracy charge, the defendants each face up to 30 years in federal prison. The wire fraud charges also carry a maximum penalty of 30 years in federal prison. The identity theft charges carry a penalty of two additional years in federal prison.