Real estate investor sentenced for money laundering
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.
To sign up for Mississippi Business Daily Updates, click here.
9 Responses to “Real estate investor sentenced for money laundering”
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Alcorn president launches new customer service task force
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- David Duval, former British Open winner, joins Sanderson Farms field
- Mississippi Film Studios signs contract with New Orleans company
- MDOT cutting more than 40 jobs in Right-of-Way Division
- Court rules against Greenwood councilwoman; must give up office
- Mars Food expanding Delta plant; investing $31M and adding jobs