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Prison, Probation and Acquittals
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May 29, 2009
A Dallas-area $14 million mortgage fraud scheme ended with the indictment of eight people. The defendants were accused of using straw buyers to purchase luxury homes at artificially inflated values.
Charges were dismissed against Foday S. Fofanah and William Barnes, both men were accused of recruiting straw buyers. Five others were sentenced to prison: Donald L. Jones was sentenced to 51 months in prison and ordered to pay $2.7 million in restitution; Joseph B. Jackson was sentenced to three years in prison and ordered to pay $2.9 million in restitution; Robert Patterson Jr. was sentenced to 46 months in prison and ordered to pay $517,954 in restitution; Daniel J. Sattizahn was sentenced to two years in prison and ordered to pay $2 million in restitution; and Catherine L. Dike aka Cathy Carter was sentenced to two years in prison and ordered to pay $1.9 million in restitution.
Donald Mathew Jones, of Hawaii received three years probation and was ordered to pay $62,502 in restitution.
Read story at Dallas News
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