Man Jailed for Using Fake Documents to Defraud Fannie Mae, Freddie Mac and HUD

Allison Tussey —  August 13, 2014 — 2 Comments

Manjur Alam, 47, Wichita, Kansas, was sentenced to six years in federal prison for a mortgage fraud scheme wherein he submitted false verification of rent and submitted a false letters of credit to lenders for nominal buyers.

Alam also was ordered to pay more than $250,000 in restitution.

The defendant pleaded guilty to one count of conspiracy to commit wire fraud and bank fraud. In his plea, he admitted he led co-conspirators in a scheme to submit mortgage loan applications containing false statements, thereby defrauding Fannie Mae and Freddie Mac and the United States Department of Housing and Urban Development.

In some cases, Alam submitted false verification of rent for nominal buyers. In other cases he submitted a false letter of credit for nominal buyers. In each loan, Alam and the co-conspirators falsely represented that the homes would be a primary residence. In truth, they did not intend to live in the homes.

U.S. District Judge Monti L Belot determined the actual loss totaled more than $485,000. The judge also noted that at the time of the crime Alam was on federal probation for a similar offense and his real estate license had been suspended.

Co-defendants included:

Christopher Ginyard, 28, Wichita, who was sentenced to two years supervised release and $40,000 restitution.
Henry Pearson, Jr., 29, Wichita, who was sentenced to two years supervised release and $56,000 restitution.
Henry Pearson, Sr., Wichita, who was sentenced to two years supervised release and $55,180 restitution.
Bruce Dykes, 46, Wichita, who was sentenced to two years supervised release and $14,872 restitution.
Janice Young, 27, Wichita, who was sentenced to five years supervised release and $60,332 restitution.
Steven Pelz, 40, Wichita, Kan., was sentenced Monday to two years federal probation and $31,924 restitution.

U.S. Attorney Barry Grissom announced the sentence.

Grissom commended 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 work on the case.

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Allison Tussey

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2 responses to Man Jailed for Using Fake Documents to Defraud Fannie Mae, Freddie Mac and HUD

  1. I am surprised he only got 6 years, I have to say the judge has been very linient considering he was running a scam with suspended real estate license. Since this is a federal crime which is by definition a felony, once he serves his sentence he should be deported from the United States, plain and simple. He did the same thing on a business deal, where he was a partner and defrauded his partner. I can’t believe scumbs likes these are allowed to stay in this country. I think IRS should go after his business Asian Groceries to make sure he not defrauding the government on taxes.

  2. I find this article truly ironic as Fannie Mae and their lawyers continue to commit fraud upon the courts by submitting mortgage notes that have been forged as evidence of false standing to foreclose on homeowners that were promised modifications that never happened.

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