Md. man sentenced to more than 3 years in prison in multimillion-dollar mortgage fraud scheme
By APFriday, October 30, 2009
Md. man sentenced to prison for mortgage fraud
BALTIMORE — An Oxon Hill man has been sentenced to more than three years in prison for a mortgage fraud tied to 25 properties in Maryland, D.C. and Virginia worth millions of dollars.
Thirty-five-year-old Terrence White also had a restitution order of more than $4 million entered against him at sentencing on Friday.
According to his plea deal, White and his conspirators paid straw purchasers $10,000 per property from 2006 to 2008 to buy houses. The scheme involved fraudulent loans worth more than $19 million.
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