$17.6 Million Fraud Involving 280 Properties Gets Missouri Man 5 Years In Federal Slammer

Jeffrey Tyler Wine, of Kansas City, Missouri, was sentenced in a Missouri Federal Court today to five years in federal prison and ordered him to pay $4.9 million in restitution for his role in a nearly $17.6 million straw buyer / flipping mortgage fraud scam that involved 280 residential properties. According to John Wood, U.S. Attorney for the Western District of Missouri:

• "Dozens of financial institutions were victimized by this mortgage fraud scheme, which in turn erodes the area's real estate market and negatively impacts the local economy. Wine will not be allowed to profit from his deception; in addition to a lengthy prison term, virtually all of his assets will be used for restitution for his victims."

For more, see:

• U.S.Attorney Wood Press Release, and
• Businessman gets five years for mortgage fraud (Kansas City Business Journal)

.