Bear Mortgage Broker Indicted on Tax Charges

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(Wilmington, DE) – Patrick T. Carter, Director of Revenue announced today that the Grand Jury for the Superior Court in New Castle County returned an indictment against Mario T. Glover, Jr., 29, a mortgage broker based in Bear, Delaware.

According to the indictment, Glover was charged with three misdemeanor counts of failing to file State of Delaware personal income tax returns and report more than $700,000 attributable to his mortgage brokerage activities for taxable years 2006 through 2008.

As a mortgage broker, Glover assisted prospective borrowers in obtaining financing to qualify them for a home mortgage. Typically, the broker will collect all the information about the borrower, including a loan application and credit report, and then send this information to the potential lender for consideration.

Glover owned and operated MTG Marketing, Inc., a mortgage brokerage business where he earned significant compensation and yet failed to file Delaware income tax returns as required and pay state taxes estimated at more than $14,000. Instead, Glover diverted the funds to benefit himself, including the purchase of luxury automobiles.

The charges against Glover stem from an investigation conducted by the Delaware Division of Revenue’s Criminal Investigation Unit and referred to the Delaware Attorney General’s Office for indictment and prosecution.

The misdemeanor tax offenses are each punishable by up to a maximum one-year imprisonment and up to $2,300 in fines.

Glover awaits arraignment and trial date in Superior Court in Wilmington.