Bookmark this site
Last week the United States Attorney’s Office announced indictments for mortgage fraud and embezzling from the government, a separate guilty plea to embezzlement, as well as a prison sentence and restitution for someone who structured his finances to avoid IRS reporting requirements.
A.J. Adewunmi of Chesterfield, Christian Joel Juan of St. Louis and Patricia Denisse Olmos of St. Louis were indicted on multiple fraud charges for their alleged participation in a mortgage fraud scheme between 2003 and 2005.
The indictment alleges that this team fraudulently obtained financing for a number of clients in eight different transactions, exploiting their clients’ lack of business sophistication and ability to speak English. On some of the transactions, Cots Realty, a real estate investment company owned in part by Adewunmi, was the seller while Adewunmi and the other defendants represented the buyer.
Read more from the StlAmerican
