November 26, 2014
LAS VEGAS (AP) - Two people in Las Vegas have been sentenced to prison following their convictions on mortgage fraud charges.
Fifty-nine year old Paul Wagner was sentenced Monday to 14 years in prison and ordered to pay $4.4 million in restitution. A homebuilder, Wagner was convicted of bank fraud, wire fraud and conspiracy for selling houses at inflated prices by providing cash incentives to buyers, real estate agents and others.
In a separate case, the U.S. attorney's office says 46-year-old Oudom Somee was sentenced to more than four years in prison for using "straw buyers" with high credit scores to purchase homes so he could skim part of the loan proceeds for himself.
He was convicted by a jury in November.
Both men were sentenced by U.S. District Judge Miranda Du.