St. Louis County woman pleads guilty to fraud charges

KSDK -- A 34-year-old St. Louis County woman pleaded guilty Tuesday to wire fraud for "walking away" from her recently refinanced home, Acting US Attorney Michael W. Reap said.

According to her plea agreement, Leona Jackson admitted to refinancing her home in north St. Louis County in 2005 while her husband was incarcerated and thus could not be present for at closing.

Jackson then admitted to taking the $20,000 in cash out of the home's equity and "walking away" from the property by willfully neglecting to make payments on the new note.

Jackson pleaded guilty to one felony count of wire fraud in U.S. District Court. She faces up to 20 years in prison and a $250,000 fine when she's sentenced on January 28, 2010.