Fidencio Moreno, 52, and Arturo Moreno, 38, brothers who owned Quality Insurance Travel Inc., have been sentenced to prison for conspiracy to commit tax fraud.
Fedencio Moreno was sentenced to U.S. District Judge Lucy Koh to three years and five months in prison; Arturo Moreno received three years and five months in prison. Arturo also pleaded guilty to conspiracy to commit bank fraud.
Elena Moreno, 40, the wife of Fidencio and the bookkeeper to the business, pleaded guilty to conspiring to commit tax fraud and conspiring to commit bank fraud and was sentenced last month to one year and 10 months in prison.
While part of the prosecution by the office of U.S. Attorney Melinda Haag had to do with unreported income related to their bus service contracts, they had also been charged for submitting fraudulent loan applications to purchase four properties in San Jose owned by family members.
Arturo Moreno and Elena Moreno were ordered by the judge to make restitution to the lenders of $423,000 and to forfeit $3.3 million obtained in home loans.
Read the original article in the San Jose Mercury News.