Actor to plead guilty in mortgage fraud scheme
By: Carla B. Follow @EOTMPR
TMZ is reporting that actor, former wrestler Tommy ‘Tiny’ Lister, 54, known for his role as the neighborhood bully Deebo in the Friday trilogy series of movies has agreed to plead guilty to a mortgage fraud scheme that cost banks in Los Angeles $3.8 million.
The actor entered the plea agreement Friday, the same day prosecutors charged him with conspiring from 2005 to 2007 to purchase homes he could not afford and to withdraw more than $1.1 million cash in home-equity loans that were not repaid.
According to the plea agreement obtained by TMZ, the actor admitted that he and five other individuals conspired to obtain four different mortgages on homes in Los Angeles, California using fake w-2′s and pay stubs.
Lister, admitted he and his co-conspirators collected mortgages worth $5.7 million, all of which defaulted. Banks later sold them at a loss of more than $2.6 million.
The case was investigated by the FBI and the Internal Revenue Service.