BALTIMORE, Md. – A Cambridge man and woman are sentenced in a bank fraud case.
On Thursday, 59-year-old Jill Dail of Cambridge was sentenced to 16 months in prison followed by five years of supervised release for bank fraud in connection witha scheme in which she and her brother, Jeffrey Dail, fraudulentlyobtained mortgage loans in the names of family members, and using the proceeds fortheir own benefit.
The judge also sentenced 49-year-old Jeffrey Dail to a year and a day in prison, followed by three years ofsupervised release, for his role in the scheme. Jeffery was ordered to pay restitution of $248,000. The amount ofrestitution for Jill Dail will be determined at a later date.
According to her plea agreement, Jill Dail was a loansettlement processor in the mortgage department at a Salisbury bankuntil she was terminated in June 2007, as part of a reduction in the bank'sworkforce. Shortly thereafter, Dail was privately hired by the manager ofthe bank's mortgage department to continue to do the same loan processing workshe had performed as an employee of the bank. The bank manager paid Dailout of his own funds and gave her full access to the bank premises, computersystem and loan files. Dail continued to represent herself as a bank employeein her dealings with title companies and other businesses.
Jill Dail admits that beginning before January 2006 throughat least August 2009, she and her brother, Jeffrey Dail, applied for mortgageloans in the names of family members and used the proceeds of the loans fortheir personal benefit. The Dails forged the signature of family membersand bank officials on the loan applications, causing the bank to approve theapplications and authorize the distribution of the loan proceeds atsettlement. In each instance, the family members whose identities wereused on the loan applications, and whose properties were used as collateral forthe loans, had no knowledge of the applications or the loans.
Based on the assurances of Jill Dail, title company employeesnotarized the signatures of the family members on the settlement documents anddisbursed the loan funds at settlement, as directed by Jill Dail, to herself,to Jeffrey Dail, or to their creditors. The balance of loan funds stillunpaid is approximately $687,923.67.