Real estate investor sentenced for money laundering

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Published: July 9,2010

Tags: money laundering, mortgages, real estate, scam

BRANDON — A 42-year-old Brandon real estate investor who alerted federal authorities to his role in a mortgage fraud scheme has been sentenced to one year and a day in prison.

The Clarion-Ledger reports David M. Strain was sentenced yesterday on a charge of money laundering.

U.S. District Judge William Barbour Jr. and federal prosecutor Carla Clark acknowledged Strain’s cooperation that led to co-defendant, Ridgeland mortgage broker Gene Bradford, receiving a four-year prison sentence in May.

Prosecutors say Strain admitted his role in the scheme that resulted in about $900,000 in fraudulent mortgage loans.

Strain must report to prison Oct. 18.

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