Maryland Man Sentenced for $19M Fraud Scheme

U.S. District Judge J. Frederick Motz sentenced Terrence White of Oxon Hill, Maryland, to 42 months in prison, followed by three years of supervised release for mail fraud from fraudulently purchasing 25 properties in Maryland, the District of Columbia and Virginia using false mortgage and settlement documents. Judge Motz also ordered White to pay $4.2 million in restitution. According to Rod J. Rosenstein, U.S. attorney for the District of Maryland, White and others paid straw purchasers to purchase houses for White and others. White created false mortgage and settlement documents, many of which misrepresented the straw purchasers' income and assets. This scheme involved fraudulent loans worth more than $19 million. More than 10 individuals and banks were harmed. The loss amount foreseeable to White is between $2.5 and $7 million. Many of the purchased properties have been foreclosed upon. Co-conspirators Kara McIntosh and Sabrina Weinberg were sentenced to three years and two years in prison, respectively. Osman Sharrieff Al-Bari was sentenced to 78 months in prison. Jamilah Al-Bari and Timothy Reed have pleaded guilty to participating in this scheme and are scheduled for sentencing in the next two months.