Scottsdale man gets five years in prison for mortgage fraud conspiracy
By Andrew Michalscheck
PHOENIX -- A Scottsdale man will be spending the next few years behind bars for his role in a mortgage fraud conspiracy.
Clint Bryson Rogers, 38, was sentenced on Wednesday to five years in federal prison. Rogers pleaded guilty back in January to conspiracy to commit false loan application, wire fraud, and money laundering.
Rogers had conspired with Shannon Kato, a real estate investor, Ernest Babbini, a loan originator, and Drew Hull, an escrow officer, to get mortgage loans to buy at least 15 properties by lying about his income and assets.
Rogers also artificially inflated the sales price of the homes in order to divert more than $2.5 million to himself or entities under his control. Rogers then used the money to buy things like trips oversees and luxury cars.
Kato and Hull will be sentenced for their involvement in the case on August 22. Babbini is slated to be sentenced on October 1.