An Interview With A Felon Who Committed a $120 Million Mortgage Fraud
Live Webcast Replay

An Interview With A Felon Who Committed a $120 Million Mortgage Fraud

Total Credits: 2 including 2 Behavioral Ethics - Non-technical

Average Rating:
  4.7   (1 comments)
ACPEN Industry Institute |  Ethics
Faculty :
Gary Zeune  |  Walt Pavlo  |  Michael J. McGrath
Course Levels:
2 Hours
Access for 30 day(s) after program date.


Michael McGrath was the owner of a mortgage firm who purchased home mortgages from credit unions and packaged them into financial instruments sold to investors.  As the economy soured, he began manipulating the financials associated with those mortgages in hopes of salvaging his aggressive growth strategy.  Instead, the fraud kept getting bigger until banks were out over $120 Million.  He would plead guilty and be sentenced to 14 years in prison.


Please Note:  This course is not approved for Texas, Florida, Virginia, Washington Ethics or any other state with a state specific ethics requirement.  Contact if you have specific questions on your state.  

Basic Course Information

Learning Objectives

*Mortgage Fraud

Major Subjects


Course Materials


Gary Zeune Related seminars and products: 16

The Pros and the Cons

Gary Zeune has instructed Strategy Formulation and Implementation in the Executive MBA Program and Accounting and Honors Finance at The Ohio State University. He is also a member of the Education Executive Council and is past chairman of the Education Marketing and Public Relations Committees of The Ohio Society of CPAs. His other memberships include: the American Institute of CPAs, and the Regulation of Public Offerings Committee of the Ohio Division of Securities.

Prior to forming his consulting practice in 1986, Mr. Zeune was an Assistant Vice President of Corporate Finance at The Ohio Company, a Columbus, Ohio investment banking firm. He also spent more than five years in Treasury and Finance at Wendy's International, where he was responsible for mergers and acquisitions, financial and SEC reporting, and corporate finance. He was on the audit staff of Ernst & Ernst from 1973 to 1977; and taught accounting at Ohio University from 1970 to 1973, where he received his bachelors in mathematics and masters in accounting, with honors.

Walt Pavlo Related seminars and products: 10

Walt Pavlo is the president of Prisonology, an educational software supporting law firms and their clients on information about the federal prison system.  He is a contributor to where he writes on white-collar crime and is the co-author of Stolen Without A Gun, which he co-wrote with Neil Weinberg (Reporter at Bloomberg). Mr. Pavlo is a nationally recognized speaker who has been a part of training programs at the Federal Bureau of Investigation, major corporations, professional societies and top ranked MBA programs across the country.

Mr. Pavlo earned his B.S. in Industrial Engineering from West Virginia University and his MBA in Finance from Mercer University.  He is also a Journalist Law School Fellow at Loyola Law School (2014).


Michael J. McGrath Related seminars and products: 1

Michael J. McGrath is the former President and CEO of U.S. Mortgage Corporation and its subsidiaries CU National Mortgage, LLC and Icon Residential Lending, LLC who were engaged in retail, wholesale and credit union residential mortgage lending nationwide.  In June 2009, Mr. McGrath plead guilty to one count each of wire/mail fraud and money laundering in a $139 Million mortgage fraud scheme.  In 2011, McGrath was sentenced to 14 years in federal prison.

In 2014, McGrath received a reduction of his sentence of 84 months for his cooperation with the U.S. Attorney’s Office in New Orleans, LA in the prosecution of the former Mayor of New Orleans C. Ray Nagin. Mr. McGrath was released in December 2015 after serving 57 months in federal prison, will serve 3 years of supervised release and has $125 million in restitution.

McGrath earned is B.S. in Finance from Seton Hall University. McGrath was named to the Fannie Mae Customer Advisory Board in 2007.


Tue, May 29, 2018 - 10:00a to 12:00p EDT
Mon, Jun 25, 2018 - 11:00a to 01:00p EDT
Mon, Jul 23, 2018 - 12:00p to 02:00p EDT
Mon, Aug 20, 2018 - 01:00p to 03:00p EDT
Mon, Sep 17, 2018 - 02:00p to 04:00p EDT
Mon, Oct 15, 2018 - 10:00a to 12:00p EDT
Mon, Nov 12, 2018 - 11:00a to 01:00p EST
Mon, Dec 10, 2018 - 12:00p to 02:00p EST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For



Original Recording Date 04/04/2016
Yellow Book No
Course Developer The Pros and the Cons
Date Added to Catalog 03/30/2016

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method Group Internet Based
Course Registration Requirements

Online Registration

Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 

Promo Video



Overall:     4.7

Total Reviews: 16


Linda S - Clifton, New Jersey

"This was much better that I expected. Michael McGrath was extremely well prepared and genuine. "

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