DC Real Estate Heist: Duo Indicted in $500K Scheme

WASHINGTON D.C. – A brazen scheme to steal homes in the nation’s capital has landed two individuals in federal court, accused of forging deeds and pocketing over half a million dollars. The U.S. Attorney’s Office announced the indictment of Jeffrey M. Young-Bey, 65, of Washington, D.C., and Martina Yolanda Jones, 44, of Baltimore, Md., on charges of conspiracy, mail fraud, and money laundering.

The indictment alleges that beginning as early as November 2019, Young-Bey and Jones systematically targeted residential properties in the District of Columbia. Young-Bey reportedly identified vulnerable properties and then fabricated property deeds, complete with forged signatures of the legitimate owners. These fraudulent deeds were then filed with the D.C. Recorder of Deeds, illegally transferring ownership to shell corporations controlled by the pair.

Once the title was fraudulently transferred, the duo allegedly either secured fraudulent loans against the property or outright sold it for a quick profit. The scheme yielded a substantial payout: $323,224 from a single fraudulent loan, and an additional $268,036 from the sale of a second stolen property. Authorities say the total illegal proceeds exceed $500,000.

The ill-gotten gains weren’t hidden for long. According to the indictment, Young-Bey used the money to purchase a 2020 BMW 750XI valued at over $106,000 and a 2016 BMW 328XI worth over $21,000. Federal agents have already seized $269,239 in cash, as well as the luxury BMW 750XI. Young-Bey was initially arrested on Nov. 22, 2021, and Jones followed on Nov. 27, 2021, both having appeared in U.S. District Court for the District of Columbia.

Young-Bey faces a heavier rap sheet than Jones, with additional charges of mail fraud, money laundering, and five counts of aggravated identity theft. The FBI’s Washington Field Office led the investigation, with the case being prosecuted by Assistant U.S. Attorney Joshua S. Rothstein and Special Assistant U.S. Attorney Viviana Vasiu.

It’s crucial to remember that an indictment is not a conviction. Both Young-Bey and Jones are presumed innocent until proven guilty in a court of law. But with a half-million dollar haul and a trail of forged deeds, this case promises a messy unraveling of a calculated and cold-hearted real estate swindle.

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