Four Phoenix family members sentenced for real estate fraud and tax evasionPosted: Updated:
A U.S. District Judge sentenced four Phoenix family members on Thursday who had fraudulently purchased numerous properties and evaded taxes.
Daphne Iatridis, 59, and her husband, Arthur Telles, also 59, were both sentenced to 30 months in prison and ordered to forfeit 26 properties after previously pleading guilty to conspiracy to commit mail and wire fraud and tax evasion. Their son, Brendyn Iatridis, was also sentenced to 10 months in prison, and their other son, Spenser Iatridis, was sentenced to 10 months probation. Both sons had also pleaded guilty to related crimes.
Prosecutors say the defendants used a variety of illegal methods, including identity theft, use of bogus trusts, and fraudulently notarizing documents to obtain more than 30 houses from the Federal National Mortgage Association between 2008 and 2012. They also failed to pay taxes on income made from renting the fraudulently purchased properties from at least 2010 through 2015.
"Real estate professionals who lie and forge documents are a scourge to the industry," stated Acting U.S. Attorney Elizabeth A. Strange. "Our office places a high priority on investigating and prosecuting real estate fraud, and we hope that the lengthy sentences imposed in this case will send a strong message that this type of dishonesty and misconduct will be punished severely."
"This case epitomized the greed that erodes confidence in the Realtor/Mortgage industry," said Michael DeLeon, Special Agent in Charge of the FBI Phoenix Division. "I am pleased the defendants are now being held accountable for their crimes and that the majority of the fraudulently obtained properties will be forfeited."
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