WICHITA, Kan. (AP) — A Wichita man described by prosecutors as the leader of a mortgage fraud conspiracy has been sentenced to six years in federal prison.
The U.S. Attorney's office says 47-year-old Manjur Alam must also pay more than $250,000 in restitution under the sentence he received Monday. He pleaded guilty last year to conspiracy to commit wire fraud and bank fraud.
Alam admitted leading several co-conspirators to lie on applications for mortgage loans, in some cases providing false letters of credit for supposed home buyers who never intended to live in the houses. A judge said the resulting loans cost federal lenders more than $485,000.
Five other people involved in the scheme have sentenced to supervised release. A sixth was sentenced Monday to two years of federal probation.
Posted by Greg Palmer