FOR IMMEDIATE RELEASE	CONTACT: Lauren Horwood
October 17, 2011	PHONE: (916) 554-2706
www.usdoj.gov/usao/cae	usacae.edcapress@usdoj.gov
Docket #: 1:10-cr-00450-AWI

FRESNO, Calif. — United States Attorney Benjamin B. Wagner announced that Brian Keith Cortez, 47, of Fresno, pleaded guilty to evading the assessment of income taxes.

According to the plea agreement, Cortez was a real estate and mortgage broker who operated Mortgage Express, Mortgage Express Inc., and Valley Investment Properties. Mortgage Express and Mortgage Express Inc. provided, among other things, refinancing on mortgages and services for securing financing for home purchases. There were several Mortgage Express and Mortgage Express Inc. branches throughout California, and Cortez owned the Fresno branch. The other branches were independently owned, but provided Cortez's with a 10 percent commission and a fee of $200 for each loan they processed. As a result, Cortez generated substantial income through these businesses, but Cortez reported his taxable income as $0 for the 2005 tax year. In the plea agreement, Cortez, admitted that for tax years 2003 to 2006, Cortez's had tax due and owing exceeding $200,000.

This case is the product of an investigation by the Internal Revenue Service, Criminal Investigation. Assistant United States Attorney Jeremy R. Jehangiri is prosecuting the case.

Cortez is scheduled to be sentenced by United States District Judge Anthony W. Ishii on January 9, 2012. He faces a maximum statutory penalty of five years in prison, a $250,000 fine, and restitution, along with the cost of prosecution. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

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