United States of America v. Mark Yampol

Chicago, IL - The United States of America charged Mark Yampol, age 57,w ith skimming money from federally insured facilities that had defaulted on mortgage loans to pay expenses of a non-federally insured facility.



According to the indictment, Yampol controlled a portfolio of nursing homes in Illinois, including homes in the Chicago suburbs of Northbrook and St. Charles. The U.S. Department of Housing and Urban Development insured the mortgage loans made by private lending institutions to all but one of Yampol’s nursing homes. By March 1, 2015, the HUD-insured facilities had not made timely mortgage payments and were in default of their loans. From May 2015 to August 2015, Yampol diverted approximately $1.1 million in funds derived from the HUD-insured facilities, which remained in default on their loans, to pay the mortgage and operating expenses of the non-HUD-insured facility, the indictment states.



The indictment was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; and Rae Oliver Davis, Inspector General of the U.S. Department of Housing and Urban Development. The government is represented by Assistant U.S. Attorneys Devlin Su and Kathryn Malizia.



“We would like to acknowledge our partners at the U. S. Attorney’s Office, who have worked tirelessly to bring this case forward,” said Inspector General Davis. “The alleged diversion of funds is not only significant in its own right but played a significant role in one of the largest insured claims involving HUD’s Section 232 mortgage insurance program for elderly and disabled residents. This office remains steadfastly committed to ensuring the integrity of HUD programs and particularly those designed to assist vulnerable populations.”



The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

The charges set forth in the Indictment are merely accusations and do not constitute proof of guilt. Every defendant is presumed to be innocent unless and until proven guilty.