In a recent admission of guilt before a U.S. District Court in St. Louis, Edward James Mitchell Jr., who also operates under the moniker Musa Muhammad, has acknowlged his role in a scheme involving fraudulently acquired home mortgages that collectively soared above the $1.2 million mark. According to a Department of Justice announcement, Mitchell pleaded guilty to one felony count of bank fraud.
Running his company Home Team Solutions LLC, Mitchell wrangled four mortgages from October 2021 through November 2023 that amassed to $1,225,550. He played a cunning game of deception, masquerading as a relative to snap up two properties from his firm, wielding a cocktail of fraudulent mortgage loan applications alongside counterfeit employment and fiscal substantiations. Now, convicted of using his relative's Social Security number and birthdate, Mitchell's plea deal shines a light on the shadows where he operated. Compounding that, he is accused of falsifying documentation to both acquire another home and sell one to an intimate companion.
The financial toll of Mitchell's fraudulent dealings led to lending institutions shouldering a loss of approximately $490,946 after Fannie Mae unwittingly purchased the infected home loans. Contrasting this figure, Mitchell stands firm in his belief, insisting that losses only clocked in at $226,950 across a mere two of the loans.
Scheduled for a July 8 sentencing, Mitchell faces a potential 30 years in the slammer for each bank fraud charge, not to mention a $1 million fine or the possibility of both incarceration and a hefty financial blow. Since October 2023, after presumably orchestrating the mortgage muddle, Mitchell has adopted a new legal identity, taking on the name Musa Muhammad. The FBI alongside the Federal Housing Finance Agency Office of Inspector General has been unraveling the threads of this fraud case, with Assistant U.S. Attorney Kyle Bateman at the prosecution helm.
