Osman Sharrieff Al-Bari pled guilty on August 3, 2009, to count one of an 11 count indictment. Sentencing is set for October 5, 2009, at 9 am. As previously reported by Mortgage Fraud Blog, Al-Bari and Jamilah Al-Bari (“Jamilah“) were charged in an 11 count indictment with mail fraud and wire fraud for a straw buyer scheme perpetrated in the Washington, DC/Maryland area.
According to the Indictment, Osmanand others paid straw buyers $10,000 per property to purchase homes. One of those straw buyers was co-defendant S.W. S.W. purchased four properties for Osman and others, including houses at 1429 W. Lombard Street, Baltimore, Maryland; 34 Q and 32 Q Street, Washington, DC; and 119 Bates Street NW, Washington, DC. Osman and his co-conspirators T.W. and T.R. created fraudulent invoices to claim that their company Brotherly Investment Group performed “renovations” on the S.W. properties. Using these false documents, Osman and his co-conspirators were was able to be “re-paid” at closing for the renovations that they claimed they had already done.
Osman, Jamilah and others had the straw buyers list false asset information claiming large account balances at various banks, including M&T Bank. Jamilah abused her position as a Business Banking Liaison at M&T Bank and created several false documents to verify assets for straw buyers, when she and others knew that such straw buyers did not have such assets. Jamilah would send false verification letters on M&T Bank letterhead to banks and mortgage lenders to facilitate the fraud scheme.
Osman and Jamilah are alleged to have been involving in fraudulent transactions for properties: 152 N. Potomac Street, Baltimore, Maryland; 34 N. Milton Street, Baltimore, Maryland; 146 N. Potomac Street, Baltimore, Maryland; 148 N. Potomac Street, Baltimore, Maryland; 127 N. Potomac Street, Baltimore, Maryland; 11516 Little Bay Harbor Way, Spotsylvania, Virginia; 11207 Fawn Lake Parkway, Spotsylvania, Virginia; 34 Q and 32 Q Street, Washington, DC;119 Bates Street NW, Washington, DC and 1429 W. Lombard Street, Baltimore, Maryland.