Fair Oaks home developer Mark Allen has been sentenced to 18 months in prison for a prosecution involving mortgage fraud.
Allen, 51, enticed people to buy houses he was building by paying them money. He and his company, Allen Development LLC, did not disclose the payments to the lenders. The prices of the homes were based on artificially high sales prices and the lending institutions ultimately lost over $1 million.
Read the original article in the Sacramento Business Journal.