Michigan Accountant Gets 5 Years In $21M Mortgage Scam; Confederate Gets 9 Years

The Detroit Free Press reports:

• A Dearborn Heights man convicted of stealing $21 million in a mortgage-fraud scheme will spend the next 5 years in prison. U.S. District Judge David Lawson sentenced tax accountant Kalil Khalil, 36, [last week] to 60 months in prison for wire fraud, based on a two-and-a-half-year scheme to defraud mortgage lenders. [...] Khalil and his codefendant, Tariq Hamad, put the loan money they received in bank accounts created in the names of companies, concealing their identities. After his prison term, Khalil must serve a 3-year supervised release and pay $11.1 million to mortgage lenders and an appraisal company. Hamad, 37, of Dearborn pleaded guilty to wire fraud and was sentenced to 9 years in prison.

For more, see Man gets 5 years in prison for mortgage fraud (2nd story from the top).