Please ensure Javascript is enabled for purposes of website accessibility

Former midstate woman charged with $2.7M mortgage fraud

A former York County businesswoman allegedly defrauded 14 mortgage lenders, 35 homeowners and five investors out of $2.7 million, according to a federal indictment released today.

Joanne Seeley was primary owner and operator of York County-based S&D Property Solutions from 2006 to 2008, when she sought out homeowners about to lose their houses at sheriff’s sales, according to a news release outlining the allegations.

Seeley would offer to buy the homes herself or have one of her buyers purchase it, federal authorities said. In exchange, the original homeowner would rent back the home under assurances from Seeley that he or she would be able to buy it back, according to the release.

Seeley allegedly used several tactics to defraud victims in the process, including submitting false documents and inflated appraisals to 14 lenders that resulted in the lenders losing about $2.5 million from the transactions, according to federal authorities.

Seeley also allegedly sold real estate “franchises” to the five investors and promised high rates of return. She then used a significant portion of the proceeds to avoid foreclosure on her own property, according to the news release.

Investors lost about $200,000 and none of the homeowners were able to buy their houses back, authorities said.

Seeley, 40, now lives in Texas. She appeared Tuesday afternoon before U.S. Magistrate Judge J. Andrew Smyser in Harrisburg on five counts of wire fraud and five counts of unlawful monetary transactions, according to the release.

She is under supervised release pending a May 2 trial, authorities said.

Brent Burkey

Business Events

Nonprofit Innovation Awards

Thursday, May 20, 2021
Nonprofit Innovation Awards

2021 Health Care Heroes

Thursday, May 27, 2021
2021 Health Care Heroes

Women of Influence

Monday, June 21, 2021
Women of Influence

Health Care Summit

Tuesday, August 03, 2021
Health Care Summit