5 years for Va. man who ran mortgage fraud scheme
The ringleader of a mortgage fraud scheme involving dozens of homes in northern Virginia and losses of at least $9 million has been sentenced to five years in prison.
Real estate agent Ruben Rojas led a criminal enterprise that resulted in 20 arrests last year. Police investigated after residents in some Fairfax County neighborhoods complained that the homes in question were serving as illegal boarding houses.
The five-year sentence was longer than what prosecutors sought. Both the judge and the government said Rojas' behavior is a prime example of what went wrong nationally in the housing market.
Mortgage fraud has been a top priority for federal prosecutors in Virginia, with more than 50 criminal cases since 2009. Banks and other victims lost more than $100 million in those frauds.
-- Associated Press
By
Washington Post Editors
|
May 7, 2010; 10:32 AM ET
Categories:
Fairfax
,
Financial Crimes
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From the Courthouse
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Posted by: rickyjohnson1 | May 7, 2010 11:49 AM | Report abuse
Now, let's turn our attention to those Wall Street Fat Cats
Posted by: Special_One40 | May 7, 2010 12:14 PM | Report abuse
More than what the prosecutors asked for? How in their right minds could they want less time? One year for each $4 million. To little time.
Posted by: jckdoors | May 7, 2010 3:53 PM | Report abuse
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5 years, he got off lucky with that. Someone should have stuck a piece of crack in his pocket and we would have saw him 20 years from now. He's destroy people lives in some cases and all he get is 5 years. Our justice system!!!!