Two Bakersfield residents received federal prison sentences for their participation in a mortgage fraud scheme.
According to the U.S. Attorney’s Office in Fresno, Lucia Yolanda Chavez, 37, and Joseph Chavez, 41, paid straw buyers to submit fraudulent loan applications to purchase real estate.
Ms. Chavez received four years in prison for conspiracy to commit bank fraud, mail fraud and wire fraud and ordered to pay $1.8 million in restitution. Mr. Chavez was sentenced to three years in prison for conspiracy to commit bank fraud, mail fraud and wire fraud and must pay $1.44 million in restitution.
The Chavez’ co-defendants Eliseo Jara, Sergio Jara, Melissa Jara, Antonio Perez-Marcial and Arlene Jeanette Mojardin already received prison sentences.
Read the original article in Bakersfield Now.