Mortgage Broker Pleads Guilty to Fraud Conspiracy

CBS St. Louis

ST. LOUIS (KMOX) – Jason Rauschelbach pled guilty to charges involving his conspiracy to defraud the United States and several banks through his business, The Mortgage Store, Inc., in 2008.

According to court documents, Rauschelbach was the CEO of The Mortgage Store, Inc. and the president of Title America. By 2008, TMS was a major mortgage brokering business with officers in four states and hundreds of employees. The main offices were in Westport Plaza and Wentzville. The businesses were operating at a financial deficit in 2008.

TMS incurred more than $600,000 in federal employment (including withholding) tax liabilities in the first three quarters of 2008 that were not paid over to the United States. There were not sufficient funds available to fund the disbursements from TMS and, in addition, to meet all of the expenses incurred by TMS including the delinquent employment tax liabilities. In order to meet certain expenses…

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