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Tinley Park gangster sentenced in mortgage scam

An alleged leader of the Gangster Disciples street gang whose luxury tastes caused a stir among neighbors in his Tinley Park subdivision has been sentenced to four years in prison after pleading guilty to theft.

Terry Faulkner, 42, sentenced Friday morning by Judge Michael Toomin at Cook County Criminal Court, was accused of involvement in a multimillion dollar mortgage scam.

Police say he likely started out dealing drugs but moved on to mortgage fraud just as the booming property market reached its peak, preying on gullible buyers, mostly in Chicago's Englewood community.

He parlayed his ill-gotten gains into a celebrity lifestyle, partying with Sean "P Diddy" Combs and owning a fleet of luxury Bentley, Maybach and BMW limousines, which were a regular sight at his home in the 7800 block of North Joliet Drive.

The $150,000 Maybach previously was owned by NBA star Antoine Walker.

But a November 2006 raid on Faulkner's home was part of "Operation Follow the Money," a joint investigation by Chicago and Tinley Park Police, and the Cook County state's attorney, that targeted properties owned by suspected drug dealers.

Faulkner duped unwitting property buyers, and phony appraisals were supplied by accomplice Rodrigo Na Vascues, who helped falsify mortgage applications on behalf of Faulkner's clients.

Na Vascues and was sentenced to two years probation in December.

The buyers soon struggled to meet the large mortgage payments, but they had no way of selling the properties for anything close to what they paid, then-Chicago Police Supt. Philip Cline said at the time of the arrests.

Mortgage companies that foreclosed were left with properties worth far less than what the companies were owed, Cline said.

And the buyers' credit was ruined.

But by the time the homebuyers lost their houses, Faulkner had pocketed the cash and moved on in each case.

The scheme was a "perfect example" of a growing trend for Chicago's street gangs to move into areas formerly dominated by organized crime, Cline said.

Faulkner's attorney, Charles Ingles, said prosecutors made Faulkner "an offer he couldn't refuse," ahead of Friday's plea deal.

Under the terms of the deal, Faulkner has signed away any claim to his cars and his former house, Ingles said.

The possessions eventually will be auctioned off by the state.

Kim Janssen can be reached at kjanssen@southtownstar.com or on (708) 633-5998.