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Archive for Wednesday, December 8, 2010

2 Kansans, 2 others sentenced in $3 million mortgage fraud scheme

December 8, 2010

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— Federal prosecutors say four people have been sentenced for taking part in a $3 million mortgage fraud scheme.

U.S. Attorney Barry Grissom says in a news release Tuesday that the defendants each pleaded guilty to one count of conspiracy to commit bank fraud, money laundering and wire fraud.

They admitted to conspiring with others to defraud mortgage lenders by submitting false loan applications, inflating contract prices and receiving money by submitting false invoices to title companies.

Prosecutors say 28-year-old Bora Ly, of Raytown, Mo., was sentenced to 18 months in federal prison; 51-year-old Debora Saulmon of Olathe, Kan., was sentenced to 15 months; 30-year-old Kong Bun Ly, Kansas City, was sentenced to one year; and 26-year-old Rebecca Gelwix, Des Moines, Iowa, was sentenced to eight months.

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