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Man trades home for prison cell after string of fraudulent mortgages

Man trades home for prison cell after string of fraudulent mortgages

CREATED Jul 26, 2012

Web Producer: Taylor Avey

 
PHOENIX (KGUN9-TV) - A man receives five years in prison after pleading guilty to conspiracy to commit wire fraud and money laundering and falsifying loan applications.  
 
Clint Bryson Rogers, 38, of Scottsdale, Ariz., admitted to lying about his income and assets in order to secure mortgage loans on at least 15 homes. 
 
Rogers also confessed to artificially inflating sales prices to divert over $2.5 million of the proceeds to himself. 
 
As part of his guilty plea, Rogers admitted to conspiring with real estate investor, Shannon Kato, loan originator, Ernest Babbini and escrow officer, Drew Hull.   
 
Kato and Hull will receive sentencing in late August and Babbini's sentence hearing is set for October 1.