WICHITA, Kan. -- A Wichita man was sentenced Monday to six years in federal prison for mortgage fraud.
Manjur Alam, 47, pleaded guilty to one count of conspiracy to commit wire fraud and bank fraud.
In his plea, he admitted he led co-conspirators in a scheme to submit mortgage loan applications containing false statements, thereby defrauding Fannie Mae and Freddie Mac and the United States Department of Housing and Urban Development.
In some cases, Alam submitted false verification of rent for nominal buyers. In other cases he submitted a false letter of credit for nominal buyers. In each loan, Alam and the co-conspirators falsely represented that the homes would be a primary residence. In truth, they did not intend to live in the homes.
Loss totaled more than $485,000.
At the time of the crime, Alam was on federal probation for a similar offense and his realtor license had been suspended. In addition to his prison sentence, Alam was also ordered to pay more than $250,000 in restitution.
Christopher Ginyard, 28, Wichita, who was sentenced to two years supervised release and $40,000 restitution.
Henry Pearson, Jr., 29, Wichita, who was sentenced to two years supervised release and $56,000 restitution.
Henry Pearson, Sr., Wichita, who was sentenced to two years supervised release and $55,180 restitution.
Bruce Dykes, 46, Wichita, who was sentenced to two years supervised release and $14,872 restitution.
Janice Young, 27, Wichita, who was sentenced to five years supervised release and $60,332 restitution.
Steven Pelz, 40, Wichita, was sentenced to two years federal probation and $31,924 restitution.