Albuquerque Real Estate Agent Sentenced to 56 Months in Prison for Federal Mortgage Fraud Conviction | New Mexico RealEstateRama
United States Attorney Kenneth J. Gonzales announced that, on September 13, 2011, a United States District Judge sentenced Albuquerque real estate agent Kevin Powers, 51, to a 56-month term of imprisonment for his conviction on 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations, and omissions. Powers will be on supervised release for three years after he completes his prison sentence.
I wonder if the entire residential real estate industry will make some concerted effort to rehabilitate its public image, or if the bankers, realtors, developers, lawyers, property managers, etc., will just expect all of us to trust them again and start buying at some point. You know--just brazen it out.