St. Louis Man Sentenced On Fraud Charges
St. Louis, MO – JAY DUNLAP of St. Louis County was sentenced to 60 months in prison for orchestrating two real estate fraud schemes. After a jury trial in April, Dunlap was convicted of bank fraud and wire fraud in connection with the financing of two residential properties between 2005 and 2009. At that time, Dunlap was the owner of A-Team Mortgage company and fraudulently used straw buyers to obtain mortgages, the proceeds of which he controlled. In addition to his prison term, Dunlap was ordered to pay more than $350,000 in restitution to the victims of his offense.
Dunlap was convicted in April of three felony counts of wire fraud, one felony count of bank fraud and one felony count of mail fraud after a four-day trial. He appeared today for sentencing before United States District Judge E. Richard Webber.
The case was investigated by the U.S. Postal Inspection Service and the Federal Housing Finance Agency Office of Inspector General. Assistant United States Attorneys Tom Albus and Dianna Collins handled the case for the U.S. Attorney's Office.