Man Sentenced for Straw Buyer Scheme

admin —  June 16, 2010 — Leave a comment

Jared Arambel, a Nevada resident, has been sentenced to 41 months in prison on a charge of conspiracy to commit mail, wire and bank fraud.

Per court documents, Arambel and his co-conspirators solicited persons to act as straw buyers and to submit loan applications and supporting documentation that contained false and fraudulent representations to obtain mortgage loans to purchase properties in Henderson, Las Vegas and North Las Vegas, Nevada.

Arambel has also been ordered to pay $2,664,950 in restitution to Aurora Loan Services, Mortgage IT, Sun Trust Mortgage and Fremont Investment & Loan.

Arambel was sentenced by James C. Mahan U.S District Judge in Nevada.

This case is the product of an extensive joint investigation by the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation Division.

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