Chicago developer sentenced for loan fraud

Law360 (January 9, 2019, 9:45 PM EST) — A Chicago real estate. them fill out fraudulent mortgage applications. In the 2016 plea agreement, Barr admitted guilt to one count of bank fraud, which.

CHICAGO – A Chicago software developer has been sentenced to three months in federal prison for fraudulently obtaining $200,000 in grant funds from the National Aeronautics and Space Administration and the National Science Foundation.

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CHICAGO-Following an announcement today by Attorney General Eric Holder in Washington, D.C., Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, announced the local results of the nationwide initiative, Operation Stolen Dreams, which targeted alleged perpetrators of mortgage fraud in the Chicago area and throughout the country and is the largest collective.

Financial Institution/Mortgage Fraud News.. Former roseville developer sentenced to Over Four Years in Prison for $22 Million Fraud.. and selling Chicago properties. Read More. Press Release.

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In Chicago, a notoriously corrupt city, attorney Robert Lattas admitted his role in a $22.9 million mortgage fraud. Most mortgage fraud featured on this site deals with making a quick buck and riding into the sunset. That wasn’t the case in this deal, where Lattas sent knowingly fraudulent pricing and documents to banks to help push through.

according to details provided by the Department of Housing and Urban Development’s Office of Inspector General. The indictment alleges that Olarte took part in the mortgage fraud scheme with two.

David T. Odom, 53, Chicago, Illinois, was sentenced to 30 months in prison, followed by three years of supervised release for a wire fraud conspiracy arising from a scheme to defraud lenders in order to obtain bridge financing for a movie.United States District Judge George L. Russell III also ordered Odom to forfeit up to $821,000 after the sale of the property and pay $700,000 in restitution.

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The law provides for a total sentence of 20 years. of Housing and Urban Development, Office of Inspector General; the united states postal inspection service; and the United States Secret Service..

A Chicago real estate developer has closed on the purchase of the Ecolab University. He has also run into legal trouble, and most recently was sentenced in 2015 to five years in federal prison.