Luxury Home Builder Pleads Guilty to Committing Mortgage Fraud
August 9, 2011
Total Loss:
Unknown
Talal Ashek, 42, of Holland, pleaded guilty today to one count of conspiracy to submit false claims to a lending institution for his role in a mortgage fraud conspiracy. Sentencing will take place on October 17, 2011, before U.S. District Judge Neil V. Wake.
Ashek owned and operated Phillips Luxury Homes, L.L.C., an Arizona construction firm that specialized in building multi-million-dollar luxury homes in areas such as Paradise Valley and Fountain Hills, Ariz. Between 2006 and 2007, Ashek solicited investors to obtain loans from banks...
Source:
FBI