The Crime Scene - To Serve and Inform

Network News

X My Profile
View More Activity
Posted at 9:05 AM ET, 02/24/2011

Man charged in D.C. housing fraud

By Allison Klein
Allison Klein

A 40-year-old District man has been indicted in connection with a $9 million housing scheme involving 22 properties, almost all in the city, officials said.

Akinola George, 40, allegedly recruited straw buyers who were not qualified to purchase homes and arranged for them to sign forged documents for mortgage loans, according to a seven-count indictment filed in U.S. District Court.

George siphoned off $2.4 million in lender money through phony invoices claiming that the homes had been renovated, even though little or no work had been completed, according to the indictment. Many of the mortgages defaulted and the properties were foreclosed on and resold for a loss.

George faces charges of bank fraud, mail fraud, and conspiracy to commit bank and mail fraud.

By Allison Klein  | February 24, 2011; 9:05 AM ET
Categories:  Allison Klein, Financial Crimes, The District  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Woman killed by Md. school bus
Next: School locked after near by holdup

No comments have been posted to this entry.

Post a Comment

We encourage users to analyze, comment on and even challenge's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.

characters remaining

RSS Feed
Subscribe to The Post

© 2011 The Washington Post Company