A Fridley man pleaded guilty Tuesday to purchasing Twin Cities properties at inflated prices in exchange for hundreds of thousands of dollars from the sellers, getting straw buyers to do the same thing, then lying on loan applications and defaulting on the properties’ mortgage payments. Taleb Mahamed Wazwaz, 49, pleaded guilty in federal court in Minneapolis to conspiracy to commit mortgage fraud through the use of interstate wires. According to the US attorney’s office, Wazwaz’s business, Iman Sun Properties, collected $784,585 from sellers who paid him the difference between their asking price and an inflated price Wazwaz came up with.
Fridley man pleads guilty in mortgage scam
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects