The last of four people has been sentenced to prison for a North Texas mortgage-fraud scheme that led to more than $3 million in losses to lenders.
Federal prosecutors said Monday that 35-year-old Jarrod Williams of McKinney was sentenced after pleading guilty in January to conspiracy to commit wire fraud affecting a financial institution.
Williams previously was convicted of being involved in a foreclosure scam so when combined with his latest conviction Williams will serve more than nine years in prison. He also must pay more than $5 million in restitution.
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Authorities who prosecuted the mortgage-fraud case say Williams worked with three others to submit loan applications that included false statements. In one instance, a loan that was approved allowed Williams to collect $800,000, which he split with the others.