Just one little bitty one to add to today's pleasure.
Arizona Man Gets 2 Years For Straw Buyer Conspiracy
Frank Padilla, Tucson, Arizona, was sentenced to two years in prison followed by three years of supervised release. Padilla was also ordered to pay more than $1.1 million to two banks identified as victims in the judgment.
Frank Padilla, 36, Tucson, was indicted along with Carlos Bent, 35, Tucson, Arizona, for conspiracy, wire fraud and engaging in illegal monetary transactions in amounts greater than $10,000. Padilla pleaded guilty to conspiracy.
Bent and Padilla found straw buyers to be the purported purchasers of the properties and paid the straw buyers a substantial fee for their fraudulent participation. Bent, Padilla and others created fraudulent documents, including false employment verifications, bank statements, mortgage loan applications and contractor’s licenses in order to qualify the straw buyers for 23 mortgage loans from financial institutions totaling over $13 million.
Arizona Man Gets 2 Years For Straw Buyer Conspiracy
Frank Padilla, Tucson, Arizona, was sentenced to two years in prison followed by three years of supervised release. Padilla was also ordered to pay more than $1.1 million to two banks identified as victims in the judgment.
Frank Padilla, 36, Tucson, was indicted along with Carlos Bent, 35, Tucson, Arizona, for conspiracy, wire fraud and engaging in illegal monetary transactions in amounts greater than $10,000. Padilla pleaded guilty to conspiracy.
Bent and Padilla found straw buyers to be the purported purchasers of the properties and paid the straw buyers a substantial fee for their fraudulent participation. Bent, Padilla and others created fraudulent documents, including false employment verifications, bank statements, mortgage loan applications and contractor’s licenses in order to qualify the straw buyers for 23 mortgage loans from financial institutions totaling over $13 million.
