On the long list of pardons and commutations of former President Donald Trump was Michael Ashley, a former mortgage official who pleaded guilty to bank fraud in 2019.
Ashley served as a senior executive for Lend America and, along with the company, faced a civil fraud injunction by the United States Attorney’s Office for the Eastern District of New York, at the request of the Department of Housing and Urban Development. The injunction was filed after the Federal Housing Administration determined that Lend America and senior officials, including Ashley, had abused their FHA approval.
“We have no tolerance for lenders who abuse their FHA approval,” said FHA Commissioner David Stevens in a 2009 statement. “The evidence, in this case, points to a disturbing trend of senior officials and underwriters either not knowing what they were doing or not caring. As a result, Ideal was immediately withdrawn from its participation in the FHA insured mortgage program.
Ashley will later be sentenced to three years in prison following his guilty plea.
“President Trump commuted Michael Ashley’s sentence. This commutation is supported by Professor Alan Dershowitz, Pastor Darrel Scott, Rabbi Zvi Boyarski, The Aleph Institute, Rabbi Hirschy Zarchi, Gary Apfel and Bradford Cohen,” according to today’s press release. Statement by the press attaché regarding the executive leniency grants. “Mr Ashley was convicted and sentenced to 3 years in prison for bank fraud. Mr Ashley’s sentencing judge said, among other things: ‘I am not afraid you are not really remorseful. I know you are a changed man. ‘Since his conviction, Mr Ashley has spent time caring for his ailing mother and paying off his debt to society. “