- According to officials, a real estate couple created bogus contracts to get loans from commission companies.
- Fake contracts include not-for-sale properties and non-existent buyers and sellers.
- The couple were sentenced to 15 months in federal prison and paid $146,273 in restitution.
A husband-and-wife team of real estate brokers from Virginia have been sentenced to 15 months in federal prison on wire fraud charges after they stole $300,000 in pre-sales commissions by forging residential sales contracts, the Justice Department said on Thursday.
Prosecutors said Jessee Allen DeLoach, 40, and Natasha Ashley Miller DeLoach, 38, created at least 19 fraudulent residential contracts between March 2016 and November 2019 and submitted them to multiple prepaid commission companies. prosecutor.
According to prosecutors, the couple also altered valid residential sales contracts to make it appear as if they had no other realtors involved in the sale to double their commissions, and created non-existent companies to verify bogus contracts.
Prosecutors say commission companies often borrow money from real estate agents, in which case the company pays after receiving contracts that appear to be genuine but are in fact bogus. They include, for example, properties that aren’t on the market, or the names of buyers and sellers that don’t exist, officials said.
The couple pleaded guilty in February 2022. The couple agreed to pay an additional $146,273 in damages, according to prosecutors.
When investigators asked why the couple committed the fraud, the husband said, “The bills are tight,” Miami reported. Herald.