- Associated Press - Monday, September 29, 2014

ALBUQUERQUE, N.M. (AP) - A federal appeals court has upheld an Albuquerque man’s fraud convictions for submitting false information to obtain more than $5.5 million in home mortgage loans but ordered that he be resentenced.

A jury in 2011 convicted Kevin Powers of 17 counts of wire fraud. He was sentenced to 56 months in prison and ordered to pay nearly $1.2 million in restitution.

The 10th U.S. Circuit Court of Appeals on Monday upheld Powers’ convictions but ruled that the trial judge didn’t correctly apply a sentencing enhancement allowed under federal guidelines.

The case stemmed from transactions involving nine homes in Albuquerque in 2006 and 2007. Powers was a real estate agent and mortgage broker

The false information included information on buyers’ financial qualifications, sales prices and intended uses of the property.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide