Four Sentenced In Mortgage Fraud Case

WICHITA, KAN. Four defendants in Wichita have been sentenced in a mortgage fraud case, U.S. Attorney Barry Grissom said today.

 All four defendants pleaded guilty and admitted co-defendant Manjur Alam recruited them to take part in a fraudulent scheme to obtain mortgage loans. Manjur devised the scheme to defraud lenders by falsifying loan applications and supporting documents.

Those sentenced Monday were:
Christopher Ginyard, 27, Wichita, two years supervised release and $40,000.
Henry Pearson, Jr., 29, Wichita, two years supervised release and $56,000 restitution.
Henry Pearson, Sr., Wichita, two years supervised release and $55,180 restitution.
Bruce Dykes, 45, Wichita, two years supervised release and $14,872 restitution.

Ginyard, Dykes and Henry Pearson, Sr., each pleaded guilty to one count of wire fraud. Henry Pearson, Jr., pleaded guilty to one count of bank fraud.

Henry Pearson, Sr., made a false statement that he would live in the property he was buying. In fact, he rented it to a third party. Based on the false statements, Lehman Brothers Bank wired $138,330.55 to Lawyer's Title escrow for the purchase of 8431 Hildreth in Wichita.

Henry Pearson, Jr., submitted a false verification of rent and a false letter of credit and made a false statement that he intended to live in the property at 1510 N. Market in Wichita. When the home was eventually foreclosed on, the bank suffered a loss of $56,000.

Christopher Ginyard falsely identified two employments in his loan application and made a false statement that he intended to live in the property at 2050 Santa Fe in Wichita. Based on the false statements, First Tennessee Bank made a payment of $72,865.75 to Kansas Secured Title=s escrow account.

Bruce Dykes obtained an $80,285 loan from First Horizon Home Loans through First Tennessee Bank that was based on a false loan application. Alam submitted a false verification of rent, a false letter of credit and a false loan application to obtain Dykes’ loan.

Co-defendant Manjur Alam, who pleaded guilty to one count of conspiracy to commit wire fraud and bank fraud, is set for sentencing Jan. 27.
Co-defendant Steven Pelz, who pleaded guilty to one count of wire fraud, is set for sentencing Dec. 16.

Co-defendant Janice Young is awaiting sentencing

Grissom commended the Department of Housing and Urban Development, the Federal Housing Finance Agency - OIG, the Internal Revenue Service and Assistant U.S. Attorney Aaron Smith for their work on the case.