KANSAS CITY, Mo. (AP) — A former Kansas man has been convicted in Missouri for his role in a $2.7 million mortgage fraud scheme.
The U.S. Attorney’s office says a federal jury in Kansas City took about 90 minutes Friday to find 48-year-old Terrence Matthew Brown guilty of conspiracy and wire fraud. Brown is a former Wichita resident now living in Round Rock, Texas.
Prosecutors said Brown took part in 2006 in a conspiracy that defrauded mortgage lenders in 10 separate loans for five properties. The loans totaling $2.7 million were used to buy properties in western Missouri and the northeast Kansas communities of Leawood and Overland Park.
Evidence showed Brown lied to lenders about his income and other information. He also received more than $200,000 in kickbacks from the scheme.
All of the properties were later foreclosed.