Men who used cheap Detroit homes and ‘straw buyers’ in $10 million scheme get prison

Seven men have been sentenced to prison terms ranging from one day to 33 months in a mortgage fraud scheme that authorities said cost banks $10 million.

The scheme took advantage of people with low incomes, but good credit, who were led to believe they were investing in low-cost Detroit homes, according to prosecutors.

U.S. District Judge Bernard Friedman this week sentenced five men to prison and ordered restitution payments. Two others were sentenced in 2014 and 2015.

Federal agents arrested the seven men, Joey Murad, Jeffrey Najor, Peter Allen, Jason Najor, Suhail Hallak, Wasseem Shamoun and Al Karana, in July 2013.

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Rachel Dollar

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