Jay Dunlap, Real Estate Fraud, Missouri 2023

A St. Louis man has been sentenced to 60 months in prison for orchestrating two real estate fraud schemes in Missouri.

Jay Dunlap, of St. Louis County, was convicted of bank fraud and wire fraud in connection with the financing of two residential properties between 2005 and 2009.

According to prosecutors, Dunlap was the owner of A-Team Mortgage company and fraudulently used straw buyers to obtain mortgages, the proceeds of which he controlled.

The scheme was uncovered after a four-day trial in April, during which Dunlap was convicted of three felony counts of wire fraud, one felony count of bank fraud, and one felony count of mail fraud.

The case was investigated by the U.S. Postal Inspection Service and the Federal Housing Finance Agency Office of Inspector General.

Assistant United States Attorneys Tom Albus and Dianna Collins handled the case for the U.S. Attorney's Office.

In addition to his prison term, Dunlap was ordered to pay more than $350,000 in restitution to the victims of his offense.

The sentencing took place before United States District Judge E. Richard Webber.

Dunlap's crimes were committed between 2005 and 2009, and he was sentenced on April 2023 in St. Louis, MO.

Source: https://www.justice.gov/usao-edmo/pr/st-louis-man-sentenced-fraud-charges