Former Real Estate Appraiser Pleads Guilty

{West Virginia}...Mark E. Greenlee of Charleston, a former West Virginia licensed real estate appraiser, pleaded guilty Thursday in federal court to aiding and abetting wire fraud. Greenlee told investigators he prepared a false and fraudulent appraisal in 2006 for nearly double the market value of a home and that he purposefully concealed material information about what he used to justify the inflated appraisal price to continue a multi-million dollar mortgage fraud scheme perpetrated by Deborah Joyce and other residents of the Stonegate subdivision in Hurricane. Greenlee is the second real estate appraiser prosecuted as part of the Stonegate mortgage fraud investigation. James R. Thornton admitted in June that he aided and abetted the same wire fraud scheme. Deborah Joyce was sentenced in April to 46 months in prison for her role in the scheme, which ultimately resulted in lender losses of about $2 million on six properties. Her husband and co-defendant, Todd Joyce, was sentenced to 18 months for his role. Greenlee faces up to 20 years in prison and a $250,000 when he is sentenced December 8th.