District of Columbia Man and Maryland Woman Indicted on Federal Charges in Real Estate Scheme
Defendants Allegedly Stole Property, Generated Proceeds
WASHINGTON – Two people have been indicted on federal charges stemming from a scheme in which they allegedly used fraudulent property deeds to steal residential real estate property in the District of Columbia, announced U.S. Attorney Matthew M. Graves and Wayne A. Jacobs, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division. All told, the indictment alleges, the scheme generated more than $500,000 in illegal proceeds.
Jeffrey M. Young-Bey, 65, of Washington, D.C., and Martina Yolanda Jones, 44, of Baltimore, Md., were indicted earlier this month by a federal grand jury on one count each of conspiracy, mail fraud, and money laundering. Young-Bey was indicted on an additional count of mail fraud, an additional count of money laundering, and five counts of aggravated identity theft.
Young-Bey was arrested on Nov. 22, 2021, and Jones was arrested on Nov. 27, 2021. Both have made their initial appearances in the U.S. District Court for the District of Columbia.
As alleged in the indictment, beginning at least as early as November 2019, Young-Bey and Jones conspired to steal real estate and obtain a loan against the property or sell the property for profit. Specifically, the indictment states, Young-Bey identified a target property located in the District of Columbia. Young-Bey then prepared a fraudulent property deed, including forged signatures of the true owners. Young-Bey filed the deed with the District of Columbia Recorder of Deeds, transferring the title from the true owners to a corporate entity controlled by Young-Bey or Jones. The residential real estate property was then encumbered or sold through means of materially false and fraudulent pretenses, representations, and promises.
As a result of the scheme, the indictment alleges, Jones and Young-Bey obtained $323,224 from a fraudulent loan taken out on one property.
In addition, according to the indictment, Young-Bey received $268,036 from the sale of a second property in the District of Columbia that he allegedly stole and sold through the same scheme. With these fraudulent proceeds, the indictment alleges, Young-Bey purchased a 2020 BMW 750XI worth over $106,000 and a 2016 BMW 328XI worth over $21,000.
In connection with Young-Bey’s activity, the Government has seized $269,239, as well as the 2020 BMW 750XI.
An indictment is merely a formal charge that a defendant has committed a violation of criminal law and is not evidence of guilt. Every defendant is presumed innocent until, and unless, proven guilty.
This case is being investigated by the FBI’s Washington Field Office. It is being prosecuted by Assistant U.S. Attorney Joshua S. Rothstein and Special Assistant U.S. Attorney Viviana Vasiu, both from the Fraud Section of the U.S. Attorney’s Office for the District of Columbia.