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Thursday, November 13, 2008

Alpharetta woman gets 11 years for mortgage fraud

A 40-year-old suburban Atlanta woman has been sentenced to more than 11 years in federal prison for her role in a multimillion dollar mortgage fraud scheme.

A federal jury in Atlanta found Adriene Newby-Allen of Alpharetta guilty in July of pocketing millions from fraudulently inflated mortgage loans to unqualified buyers from 2004 to 2006.

One of those buyers was her husband, Brinson Allen, who was found guilty of fraud in July. His sentencing has not been set.

Newby-Allen was sentenced to 135 years in prison and five years of probation and must pay $5.3 million in restitution.

Labels: Alpharetta, Mortgage Fraud

# posted by Brian Vanderhoff @ 3:08 PM

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Brian Vanderhoff's North Fulton Real Estate Blog: Alpharetta woman gets 11 years for mortgage fraud

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Alpharetta woman gets 11 years for mortgage fraud