Texas Feds Get Guilty Plea In $15M Fraud, Money Laundering Conspiracy

From the U.S. Attorney's Office - Western District of Texas:

• "United States Attorney Johnny Sutton announced that 56-year-old Firooz Deljavan, former owner and operator of Austin Realtors Network, Inc., faces five years in federal prison after pleading guilty to participating in a fraud and money laundering scheme that defrauded federally insured financial institutions and mortgage lenders of more than $15 million. [...] Deljavan pleaded guilty to one count of conspiracy to commit mail, wire and bank fraud and one count of conspiracy to commit money laundering."

His wife, Rosemary Rios, pleaded guilty to one count of making false statements in obtaining a real estate loan. Nineteen other individuals have been convicted and sentenced for their roles in this scheme while two remain as fugitives.

For more, see U.S. Attorney Press Release - Former Austin Businessman And Federal fugitive Pleads Guilty To Fraud And Money Laundering Charges.