FOR IMMEDIATE RELEASE:
THURSDAY - December 2, 2010
RALEIGH - United States Attorney George E.B. Holding announced that in federal court here on yesterday KIMITHI L. DAVIS, 41, of Knightdale, North Carolina, was sentenced today to 53 months’ imprisonment for conspiring to commit money laundering. The Court also imposed restitution in the amount of $2,045,854.
A Criminal Information was filed on April 1, 2010. DAVIS, operated a business known as “Pro Bowl Brokerage” and “Pro Bowl Consulting, LLC” that purported to help people secure loans and real estate financing. Though neither DAVIS nor his business had any relevant brokerage license, they collected a fee from the proceeds of the loans in a fashion and amount misrepresented to the victim lenders. During the scheme, DAVIS and others secured financing for themselves and others based on materially false and fraudulent representations to lending institutions. DAVIS then engaged in financial transactions with these ill-gotten gains.
Commenting on this case, Mr. Holding stated: “Individuals like the defendant were the tip of the spear in helping to facilitate the sham financial transactions that are at the heart of the mortgage-fraud crisis plaguing our nation’s economy. This reckless profiteering impacts us all, and will not be tolerated.” “Illegal behavior of such as that of this defendant is costing us all dearly and placing a burden on our economy,” stated Jeannine A. Hammett, Special Agent in Charge, IRS-CI. “IRS investigators will continue to pursue those who commit such fraud and launder their ill-gotten proceeds.”
Investigation of the case was conducted by the Criminal Investigative Division of the Internal Revenue Service. Assistant United States Attorney Jason Cowley served as prosecutor for the government.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.