Actor Tommy “Tiny” Lister — best known as Deebo from “Friday”, pleaded guilty to conspiring to commit mortgage fraud, which caused lenders to lose almost $4millions. Lister, 54, who lives Chatsworth, is accused of conspiring with bank employees to purchase four homes between November 2006 and June 2007 that he knowingly couldn’t afford.
With assistance from the bank employees and tax preparer, Lister inflated his income and assets on his mortgage applications and falsified his bank statements and escrow records in order to avoid putting down payments on the homes.
The actor admitted to receiving close to $6million in mortgages and defaulting on four homes, causing lenders to lose $2.6million.
He also admitted to withdrawing over $1.1 million in loans using the properties as collateral, which he never paid back.
A second person, self-employed Northridge tax preparer Arcelia Chavez, was also charged.
Chavez, 48, reportedly helped Lister by preparing those false documents, causing lenders to lose approximately $1.1 million.
Both men face up to 5 years in federal prison when they are sentenced.
Before entering the world of acting, Lister, who is blind in one eye, was a professional wrestler.