A Wichita man has been sentenced for his role in a mortgage fraud scheme that targeted homeowners in the city.
Steven Pelz, 40, was sentenced to two years of federal probation on Monday for his part in a scheme to fraudulently obtain mortgage loans.
Pelz pleaded guilty to one count of wire fraud, admitting that he was part of a scheme devised by co-defendant Manjur Alam to falsify loan applications and supporting documents.
The scheme, which was uncovered in 2007, involved Pelz and Alam making false statements on loan applications, including falsely representing Pelz’s income and stating that he planned to occupy the property.
On August 22, 2007, Pelz caused First Home Loans to send a wire payment of $50,246 to Kansas Secured Title for the purchase of a property at 1044 S. Sedgwick in Wichita.
Pelz’s sentencing is just the latest development in the case, which has seen several co-defendants plead guilty and receive their own sentences.
Manjur Alam, 46, who was accused of devising the scheme, is set to be sentenced on January 27, while Christopher Ginyard, 27, was sentenced to two years of supervised release and ordered to pay $40,000 in restitution. Henry Pearson, Jr., 29, was also sentenced to two years of supervised release and ordered to pay $56,000 in restitution, while Henry Pearson, Sr. received a similar sentence and was ordered to pay $55,180 in restitution. Bruce Dykes, 45, was sentenced to two years of supervised release and ordered to pay $14,872 in restitution, and Janice Young, 27, is still awaiting sentencing.
U.S. Attorney Barry Grissom commended the agencies involved in the case, including the Department of Housing and Urban Development, the Federal Housing Finance Agency – OIG, the Internal Revenue Service, and Assistant U.S. Attorney Aaron Smith, for their hard work in bringing the defendants to justice.
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Key Facts
- State: Kansas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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