Phoenix couple sentenced to prison in real estate fraud case
11:09 AM, Sep 8, 2017
PHOENIX (AP) - A Phoenix married couple faces prison time after being sentenced in a real estate fraud case in which their two adult sons also were sentenced.
The U.S. Attorney's Office says a judge on Thursday sentenced 59-year-olds Daphne Iatridis and Arthur Telles to 2 ½-year prison terms and ordered them to forfeit 26 fraudulently purchases properties. Each previously pleaded guilty to conspiracy to commit mail and wire fraud and tax evasion.
Sons Brendyn Iatridis and Spenser Iatridis pleaded guilty to related crimes and were sentenced to 10 months in prison and probation, respectively.
Prosecutors say the defendants stole identities, used bogus trusts and fraudulently notarized documents to obtain more than 30 homes from the Federal National Mortgage Association and also failed to pay taxes on rental income from the properties.