On Thursday, former Dallas Cowboys linebacker Eugene Lockhart, along with Cowboys Mortgage owner Lendell Beacham were arrested, both facing one count of conspiracy to commit bank fraud and wire fraud and one count of wire fraud.
According to the U.S. Attorney’s Office, Lockhart and the others have made 54 fraudulent loan closings for single-family homes in the Dallas area that totaled about $20.5 million since February 2001. The federal indictment said that the defendants kept the surplus loan proceeds after they obtained loans to buy distressed or pre-forclosure properties and sold them at inflated prices.
Lockhart played for the Cowboys from 1984 through 1990 and for the New England Patriots in 1991-92, recording 16 career quarterback sacks and six interceptions, one of which was returned for a touchdown. In this fraud case, he was involved with several real estate businesses, including America’s Team Mortgage, America’s Team Realty, Cowboys Realty and KLT Properties, and was accused of collaborating with the eight others to devise the scheme and helping obtain inflated appraisals.
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