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”
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- (UPDATED) Making Jackson-Evers affordable to Allegiant is key to regaining Orlando service
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- Deal for Jackson-Orlando flights in works with Allegiant
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Businessman involved in Frankel insurance scam dies at 81
- Report: Mississippi sees biggest hike in home insurance premiums in U.S.
- Giles Ward will not seek reelection to Senate
- Great River Industries moving headquarters to Natchez
- Commission to decide if emergency should be declared in Delta school system
- Leadership in Law nomination form