Roseville woman gets jail, probation for mortgage fraud
A Roseville woman will face jail time and five years probation after authorities say she ran a mortgage fraud scheme by collecting money from clients without providing the promised modifications or debt reduction.
Asima Khan, 35, is being ordered to pay $60,387 in restitution to the clients who fell victim to her scheme and serve 12 days in jail, according to Michigan Attorney General Bill Schuette.
Authorities say Khan’s company, Financial Independent Services, also violated Michigan law by collecting the money for her services in advance.
Shawn Coppins, Khan’s attorney, said Khan did attempt to provide the mortgage modifications for her clients but in many cases was unsuccessful.
“Ms. Khan has extensive files detailing the work she did on behalf of those clients,” Coppins said. “Unfortunately the requirements of the banks and people’s ability to respond to those changing requirements precluded them from getting the relief.”
Coppins said Khan also was not aware that she was breaking the law when she collected money from clients in advance.
Schuette’s office said Khan’s company served clients in Oakland and Macomb counties and ended operations in 2014.
The Department of Attorney General’s Corporate Oversight Division began investigating Khan when it received several complaints from victims in 2015.
“We see this time and time again, good people who have fallen on difficult times are taken advantage of by an individual who sees nothing but dollar signs,” Schuette said in a statement. “I am pleased to see this case resolved, but I will continue to seek justice and restitution for victims of this type of crime.”
Coppins said Khan accepted the sentence to avoid exposure and potentially stiffer penalties.
“I don’t think it was ever her intention to hurt people,” Coppins said.