Evans real estate fraud trial delayed till tomorrow

February 28, 2011

Banking & Finance, Real Estate

By Amy McCullough

Oral arguments in the long-awaited civil trial of the Evans brothers commercial real estate fraud case have been put off until tomorrow morning (Tuesday, March 1), due to the fact that Mississippi Valley Title’s attorney, Bill Brabec, is sick.

In January, the brothers pleaded guilty to criminal charges of conspiracy to commit money laundering and bank fraud and are scheduled for sentencing June 27.

Prosecutors say the brothers secured mortgages from banks by providing false information. They contracted to purchase tracts of land, then falsely subdivided tracts on paper and created phony records and shell companies to secure mortgages on the individual plots from multiple banks.

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