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latimes.com

Wichitans charged with mortgage fraud

by Jessica Reber

KWCH 12 Eyewitness News

2:15 PM PDT, May 2, 2013

(WICHITA, Kan.)

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Seven people in Wichita have been charged in a federal mortgage fraud case.
 
An indictment alleged the scheme involved straw buyers and straw sellers, false loan applications and false supporting documentation submitted to lenders. Victims of the fraud included numerous banks, the Federal Housing Administration, the Federal Deposit Insurance Corporation (FDIC), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
 
The following defendants were named in the indictment:
       
Manjur Alam, 45, who is charged with one count of conspiracy, six counts of wire fraud, one count of bank fraud, one count of making a false statement to the Department of Housing and Urban Development and one count of money laundering.

Janice Young, 26, who is charged with one count of conspiracy, one count of wire fraud and one count of making a false statement to HUD.

Bruce Dykes, 44, who is charged with one count of conspiracy and two counts of wire fraud,

Christopher Ginyard, 27, who is charged with one count of conspiracy and one count of wire fraud,
       
Henry Pearson, Sr., who is charged with one count of conspiracy and one count of wire fraud.
       
Henry Pearson, Jr., 28, who is charged with one count of conspiracy and one count of bank fraud.
       
Steven Pelz, who is charged with one count of conspiracy and one count of wire fraud.
 
The indictment alleges that Alam, whose realtor license had been suspended and who was on probation for a federal conviction, was the leader of the conspiracy. He used straw sellers to purchase homes and flip the properties to straw buyers. He recruited sellers from his homeland of Bangladesh. He lured the straw sellers with promises of quick and easy profits, while he recruited straw buyers with the prospect of using the houses as investments while promising them kickbacks.