Former Bank Employee Pleads Guilty in Mortgage Fraud Scheme

According to her plea agreement, Jamilah Al-Bari participated in a scheme with her brother, Osman Sharrief Al-Bari and others to pay straw purchasers to purchase houses for them using false loan documents. Jamilah Al-Bari abused her position as a business banking liaison at M&T Bank in Upper Marlboro, Maryland and created false documents purporting to verify assets for the straw buyers. She also sent false verification letters concerning the buyers' income and assets on M&T Bank letterhead to banks and mortgage lenders to facilitate the fraud scheme. Jamilah Al-Bari created a fictitious M&T Bank employee and used the fictitious employee's name to sign some of the false verification letters. Posted in: Internal Fraud