Albert William Roberts III, 68, Lee’s Summit, Missouri, was sentenced to four years in federal prison without parole in connection with his role in a $3.7 million mortgage fraud scheme. U.S. District Judge Brian C. Wimes also ordered Roberts to pay $1,992,221 in restitution.
On May 13, 2016, Roberts was found guilty at trial of four counts of wire fraud. Roberts, a retired Kansas City, Missouri., school teacher, obtained a total of $3,758,420 from mortgage lenders and title companies from 2002 to 2007 for the purchase of a dozen properties from Penrod Homes, Inc. – three properties in Lee’s Summit, Missouri, six properties in Peculiar, Missouri, and three properties in Greenwood, Missouri. Most of the homes were priced in the upper $100,000 or lower $200,000 range; the most expensive was a home on about two acres for $1.3 million.
Although Roberts was found guilty of wire fraud specifically in connection with two of those transactions, evidence introduced during the trial indicated that Roberts’ fraud extended to 10 additional properties. Roberts obtained all 12 mortgage loans by material false and fraudulent representations and omissions of facts. He structured the purchases of the homes in such a way that he received $807,203 in kickbacks that were not disclosed to the lenders.
The sentenced was announced by Tammy Dickinson, United States Attorney for the Western District of Missouri. The case was prosecuted by Senior Litigation Consultant Gregg R. Coonrod and Assistant U.S. Attorney Kathleen Mahoney. It was investigated by the FBI.
Shame theses liberals in Santa Barbara County California can’t do their jobs.