Julio Cesar Esquivel Reyes, 41, Tolleson, Arizona was sentenced to five years in prison and ordered to pay more than $568,000 in restitution for orchestrating a mortgage fraud conspiracy that spanned 11 years and resulted in nearly $2 million in losses for mortgage lenders. According to prosecutors, Reyes recruited family and church members, including two pastors, to commit mortgage fraud, eventually obtaining more than $3 million in loans. Reyes previously pleaded guilty to conspiracy to commit wire fraud. According to U.S. Attorney John S. Leonardo:
“Mortgage fraud is a serious offense that has detrimental effects on the economy as a whole. The facts of this case are especially egregious because the defendants used their affiliation with a church to further the crime. This sentence and that of Pastor Tovar send a solid message that those engaging in such actions will be prosecuted and incarcerated.”
Matt Allen, special agent in charge for HSI Arizona, said: Continue Reading…
