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Three Pierce County women sentenced in Pierce Commercial Bank mortgage fraud scheme

Post by Adam Lynn / The News Tribune on Jan. 15, 2013 at 10:38 am with No Comments »
January 15, 2013 12:36 pm

The fallout from the Pierce Commercial Bank mortgage fraud case continued in U.S. District Court in Tacoma this week.

Three Pierce County women who work for bad-mortgage king Shawn Portmann were sentenced to prison for helping Portmann submit fraudulent loan applications.

Former Pierce Commercial Vice President Sonja Lightfoot, 53 of Tacoma, was sentenced to one month in prison and four months of home detention.

Portmann’s former personal assistant, Alice Barney, 54 of Graham, got two months in prison and four months of electronic home detention.

Loan underwriter Jeanette Salsi, 55 of Bonney Lake, was sentenced to seven months in prison and four months home detention.

Federal prosecutors say Portmann and his accomplices pushed through risky or fraudulent loans from 2004 to 2008, leading to foreclosures a and the collapse of the bank.

Portmann is to be sentenced Jan. 28.

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