Trial delay in alleged East Tennessee reverse mortgage scam

Trial delay in alleged East Tennessee reverse mortgage scam


KNOXVILLE (WATE) - The trial date for a multi-million dollar reverse mortgage fraud case in East Tennessee is delayed four months.

Both sides asked a federal judge Friday for time to wade through 30,000 pages of bank documents.

Joyce Allen and an associate are charged in an alleged money laundering scheme.

Allen's attorney also asked Friday that the charges against her be dismissed. The judge will hear that motion in October.

6 News has reported about one homeowner, Joy Joines, who was about to lose her house after investing her life savings with Allen. In August, Joines' foreclosure was postponed.

Others say they were deceived by Allen as well. "She's like any other defendant. They want their case dismissed, which is another way of saying, I'm not guilty.  We know better. We know better," Kent Burleson said.

"We've lost our whole life's savings we had invested with her," Randall Marsee said. "It's one of them things."

The new trial date for Allen and her associate is set for January 7, 2013.

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