It looks like Deebo might really be getting locked up and going to jail for a good little while for stealing a hunk and a chuck of money in a mortgage fraud scheme. The big guy is not as dumb as he looks or maybe so because he got busted.
Tommy Lister, who is known to many as Deebo for his role in the classic movie Friday, agreed to plead guilty to charges of conspiring to commit mortgage fraud.
According to TMZ, the fraud apparently led to $3.8 million in losses for some unsuspecting lenders.
The site reports:ctor Tommy Lister, who has appeared in approximately 100 movies, and a San Fernando Valley accountant were charged today in federal court with conspiring to commit mortgage fraud in a scheme that led to $3.8 million in losses. According to the plea agreement — obtained by TMZ — Lister admitted to a diabolical scheme in which he and several individuals conspired to obtain four different mortgages on homes in L.A. using false information and bogus bank statements.
Lister admitted he and his co-conspirators collected mortgages worth $5.7 million — and defaulted on all four … costing the lenders $2.6 million.
He also admitted to withdrawing over $1.1 million in loans using the properties as collateral … which he never paid back. All-in-all Lister has admitted swindling banks out of $3.8 million.
If convicted, Tommy could face up to 5 years in federal prison. He has a court date coming up this month.

Update

Lister, who is also known as “Tiny” and “Zeus,” a 54-year-old Chatsworth resident, was charged this afternoon in a criminal information with one count of conspiracy.

A second person involved in the scheme—Arcelia Chavez, 48, of Northridge, who is a self-employed certified tax preparer—was also charged today with conspiracy. So what did they DO, you ask?

Lister conspired with these individuals to fraudulently acquire title to four residential properties he could not afford. With the help of these individuals and others, Lister obtained mortgages for the four properties through fraudulent means, including submitting mortgage applications that included inflated income and asset amounts; fabricating bank statements and falsifying other documents to substantiate the fraudulent statements in the loan applications; and falsifying escrow records to deceive lenders into believing Lister had made required down payments.

In addition to fraudulently obtaining the mortgages, Lister and his co-conspirators concealed from lenders the fact that he would receive kickbacks from sellers after the real estate deals closed.

Relying on the fraudulent applications and documents, lenders issued mortgages totaling $5.7 million. Lister subsequently defaulted on the four mortgages, causing those lenders and their successors to lose approximately $2.6 million.

After acquiring title to the four residential properties, Lister obtained fraudulent home equity lines of credit on each of the four properties. Lister drew down a total of $1,146,000 in cash from the four HELOCs but did not pay back any of the principal.

He's getting 5 years in PRISON for his crimes

Guess who AIN'T gonna be in the movie FRIDAY part 4!!!

[Edited 9/2/12 8:37am]

I thought Tommy was a hardcore Christian ? I've seen him a few times on TBN.

God bless him but he's a Hypocrite.

[Edited 9/1/12 21:17pm]

KCOOLMUZIQ said:

Posted on September 1, 2012

It looks like Deebo might really be getting locked up and going to jail for a good little while for stealing a hunk and a chuck of money in a mortgage fraud scheme. The big guy is not as dumb as he looks or maybe so because he got busted.
Tommy Lister, who is known to many as Deebo for his role in the classic movie Friday, agreed to plead guilty to charges of conspiring to commit mortgage fraud.
According to TMZ, the fraud apparently led to $3.8 million in losses for some unsuspecting lenders.
The site reports:
According to the plea agreement — obtained by TMZ — Lister admitted to a diabolical scheme in which he and several individuals conspired to obtain four different mortgages on homes in L.A. using false information and bogus bank statements.
Lister admitted he and his co-conspirators collected mortgages worth $5.7 million — and defaulted on all four … costing the lenders $2.6 million.
He also admitted to withdrawing over $1.1 million in loans using the properties as collateral … which he never paid back. All-in-all Lister has admitted swindling banks out of $3.8 million.
If convicted, Tommy could face up to 5 years in federal prison. He has a court date coming up this month.

ONLY 5 YEARS??? people convicted of tax evasion (Lauryn Hill, Wesley Snipes) get more time. And they just didn't pay taxes on THEIR earned money.

He STEALS money and only 5 years?

Dude... Tommy wtf

This guy has always been advertising himself as mentioned a hardcore christian. And always trying to seem like a nice guy... as always look's & talk can be bullshit.

Robin Harris in 1990 said:

Bald headed fucker!

Put the light on his ass.

Don't you bring your ass up here Tiny, head looks like some shaved monkey's nuts.

KCOOLMUZIQ said:

Posted on September 1, 2012

It looks like Deebo might really be getting locked up and going to jail for a good little while for stealing a hunk and a chuck of money in a mortgage fraud scheme. The big guy is not as dumb as he looks or maybe so because he got busted.
Tommy Lister, who is known to many as Deebo for his role in the classic movie Friday, agreed to plead guilty to charges of conspiring to commit mortgage fraud.
According to TMZ, the fraud apparently led to $3.8 million in losses for some unsuspecting lenders.
The site reports:
According to the plea agreement — obtained by TMZ — Lister admitted to a diabolical scheme in which he and several individuals conspired to obtain four different mortgages on homes in L.A. using false information and bogus bank statements.
Lister admitted he and his co-conspirators collected mortgages worth $5.7 million — and defaulted on all four … costing the lenders $2.6 million.
He also admitted to withdrawing over $1.1 million in loans using the properties as collateral … which he never paid back. All-in-all Lister has admitted swindling banks out of $3.8 million.
If convicted, Tommy could face up to 5 years in federal prison. He has a court date coming up this month.

Source of the article?

Gunsnhalen said:

Dude... Tommy wtf

This guy has always been advertising himself as mentioned a hardcore christian. And always trying to seem like a nice guy... as always look's & talk can be bullshit.

I saw him on TBN once, he went on some rant about how he "wasn't with that gay stuff!" and got all anti-gay pro christian crazy- I knew he was some bullshit!

This man could NOT have thought he was going 2 get away with this.

JoeyC said:

I thought Tommy was a hardcore Christian ? I've seen him a few times on TBN.

God bless him but he's a Hypocrite.

[Edited 9/1/12 21:17pm]

All Christians are hypocrites.