Homeowner Agrees To Forfeit 9-Bedroom Mansion To Feds As Part Of Plea Deal In Connection With Conviction For Consummating Fraudulent Short Sales Of Gas Stations

In Oak Brook, Illinois, Crain's Chicago Business reports:

• A 16,800-square-foot Oak Brook mansion formerly home to White Sox legend Frank Thomas will be forfeited to the federal government by its most recent owner as part of a fraud conviction.
  
  This is the second owner to lose the mansion since Thomas sold it in 2003.
  
  In March, Tahir Iqbal, the owner of the estate, and Shaukat Sindhu pleaded guilty to defrauding banks out of $2.5 million through fraudulent short sales of Ohio gas stations.
  
  The 3.3-acre Oak Brook estate, which Iqbal bought in late 2014, will be forfeited to the government as part of the plea deal, according to a statement from the U.S. Attorney's Office for the Northern District of Ohio.
  
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  In July, Iqbal was sentenced to 366 days in prison and Sindhu to 45 months.
  
  Iqbal bought the estate for $2.71 million in 2014 from Bank of America, which had seized it in foreclosure from previous owner Frank Scarlato. Scarlato bought the estate from Thomas for $7.95 million in 2003.
  
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  Thomas built the gated estate in 1997. It has nine bedrooms, 10 full baths, two outdoor swimming pools and a beauty salon.

Source: Former Frank Thomas estate to be forfeited in fraud conviction.