Ira Morya Davis, 40, Irving, Texas, pleaded guilty to conspiracy to commit wire fraud on Oct. 26, 2021.
According to information presented in court, Davis and at least two other co-conspirators devised a fraud scheme targeting various financial institutions and real estate purchasers. To accomplish the fraud, Davis and his co-conspirators created shell companies and executed various mortgage and property documents that purportedly conveyed ownership interests of various real properties from the true owners to the conspirators’ shell companies. Davis and his co-conspirators then filed the fraudulent documents with county offices falsely showing that they had mortgage liens on the properties, sold the properties, and triggered the title companies to unwittingly fund the co-conspirators. During the course of the scheme, Davis obtained and used fraudulent notary stamps using real people’s identities, which enabled the conspirators to legitimatize the otherwise fraudulent documents. Davis and his co-conspirators targeted multiple properties, and the financial harm resulting from his offense was at least $2.5 million.
Davis was indicted by a federal grand jury on March 12, 2020. He faces up to 20 years in federal prison. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.
Acting U.S. Attorney Nicholas J. Ganjei made the announcement.
“The Eastern District is committed to tackling complex fraud schemes, including those that target financial institutions and purchasers in the real estate market,” said Acting United States Attorney Nicholas J. Ganjei. “Regardless of the complexities involved, the public can be assured that EDTX and its law enforcement partners are working tirelessly to disentangle complex white collar fraud schemes and bring culpable individuals to justice.”
The case is being investigated by the Federal Housing Finance Agency – Office of Inspector General and the Federal Bureau of Investigation.