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Shell Co. Used in $3.2 Million Purchase
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November 24, 2008
One man was found guilty on three counts of felony fraud and one count of theft in a mortgage scheme that involved the purchase of his $3.2 million Arizona home.
Delanie Belfield Ross, 39, along with the help of his wife and brother, fraudulently obtained mortgage loans to acquire a home in 1994. They created shell corporations and used fake corporate tax returns.
He faces up to 28 years in prison for this crime and also because of prior fraud convictions. Sentencing is set for Dec. 19.
Read story at AZStarNet
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