A Minnesota husband and wife pled guilty in Federal court last week of running a fraudulent bidding and kickback operation using foreclosed properties in the Twin Cities area.
Per investigators, the duo acted as owner and accountant for a real estate firm that ostensibly maintained and repaired foreclosed homes on behalf of mortgage lenders. They say he directed contracts to companies in exchange for illegal kickbacks and bribes as early as the fall of 2007.
Prosecutors say the pair offered the illegal inducements without the knowledge of their clients for almost 8 years. They allegedly included the cost of kickbacks in the bids and invoices they sent mortgage lenders, the sum of which exceeded $290,000.
Last week both individuals pled guilty to charges in the case, with the husband pleading guilty to conspiracy to commit mail and wire fraud affecting a financial institution, and his wife pleading guilty to aiding and abetting her husband’s alleged behavior. Along with a guilty plea, the couple agreed to pay restitution. They are each facing up to three decades in Federal prison and a fine of up to $1 million.
In exchange for their guilty plea, prosecutors agreed to move to dismiss the remaining charges.
The Law Offices of Bjorn Brunvand have been representing people charged with capital murder, felony drug charges, drunk driving, government fraud, and white-collar crimes for over a quarter century. Contact our office today to discuss your Tampa Bay-area state or federal charges.