SAN DIEGO (AP) — The leader of a San Diego mortgage companyhas been sentenced to 41 months in
prison and ordered to pay more thanhalf-a-million dollars in restitution.U.S. Attorney Laura E.Duffy
announced in a statement Monday the sentencing of Brian NelsPeterson for creating millions of dollars in
fraudulent mortgageapplications between 2005 and 2007.Peterson headed Terra Financemortgage company, which
generated between $80 and $100 million inresidential mortgage loans at its height. Peterson earned over
$1million from his fraudulent business through broker’s fees, kickbacks,and other sources in just 2006. He
also failed to report that money tothe Internal Revenue Service.When his business crumbled, millionswere
lost, dozens of homes foreclosed, neighborhoods depressed, and 26people who worked with the company
indicted.Copyright 2013 The Associated Press. All rightsreserved. This material may not be published,
broadcast, rewritten orredistributed.SAN DIEGO (AP) — The leader of a San Diego mortgage companyhas been
sentenced to 41 months in prison and ordered to pay more thanhalf-a-million dollars in restitution.U.S.
Attorney Laura E.Duffy announced in a statement Monday the sentencing of Brian NelsPeterson for creating
millions of dollars in fraudulent mortgageapplications between 2005 and 2007.Peterson headed Terra
Financemortgage company, which generated between $80 and $100 million inresidential mortgage loans at its
height. Peterson earned over $1million from his fraudulent business through broker’s fees, kickbacks,and
other sources in just 2006. He also failed to report that money tothe Internal Revenue Service.When his
business crumbled, millionswere lost, dozens of homes foreclosed, neighborhoods depressed, and 26people who
worked with the company indicted.Copyright 2013 The Associated Press. All rightsreserved. This material may
not be published, broadcast, rewritten orredistributed.