Mortgage broker who fled to Iran gets 9 years in prison

A Potomac man who fled to Iran after embezzling millions of dollars from Washington-area banks was sentenced to nine years in prison.

A federal judge also ordered 49-year-old Michael Milan to pay more than $4 million in fines and restitution. Milan pleaded guilty to conspiracy to commit mail and wire fraud for his role in carrying out a multimillion-dollar mortgage fraud scheme.

Milan ran two mortgage consultant companies from October 2007 to June 2008, according to court documents: Preferred Choice Mortgage in Potomac and Congressional Funding USA in Rockville.

Read more from the Washington Examiner

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