From Doctor to L.O. to Prison

November 18, 2008


A former physician who had his license suspended by the state of Pennsylvania is now going to prison for fraudulently misusing his position as a loan officer – costing lenders between $400,000 and $1 million.

Brian Tray, 52, is accused of inflating sales prices and values of homes to obtain larger mortgage loans than allowable. Tray worked for America’s Mortgage Outlet, whose owner, William Edgar, is currently serving a 37-month sentence for heading the fraud scheme.

Tray was sentenced to 41 months.

Read story at The Denver Post