Accomplice pleads guilty in fraud scheme involving former South Bend cop

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Sgt. Robert Culp, a 17-year veteran of the South Bend Police Department, pleaded guilty to bank fraud in federal court

Sgt. Robert Culp, a 17-year veteran of the South Bend Police Department, pleaded guilty to bank fraud in federal court. (WSBT file photo)

By Tiffany Griffin

Story Created: Jul 15, 2008 at 5:10 PM EST

Story Updated: Jul 15, 2008 at 5:11 PM EST

SOUTH BEND — Two months after a former South Bend police officer pleaded guilty to mortgage fraud, one of his accomplices, William J. DePalma, has pleaded guilty to bank fraud.

DePalma admitted to participating in a scheme to defraud mortgage lenders by means of false representations and statements.

DePalma is the owner of DePalma Home Remodeling.

DePalma and Culp bought inexpensive homes in need of repair and renovation in the South Bend area. They and their accomplices then sold the homes at "significantly greater" prices than they had paid, according to court documents.

Mortgage brokers arranged for loans from the victim lenders in amounts that were about 85 or 90 percent of the set sale price, court documents say.

Others named in court documents as having worked with DePalma and Culp have not been charged.

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