A Scottsdale man has been sentenced to five years in federal prison for his role in a mortgage fraud conspiracy.
Federal prosecutors say 38-year-old Clint Bryson Rogers pleaded guilty in January to conspiracy to commit false loan application, wire fraud and money laundering.
Rogers admitted as part of his guilty agreement that he conspired with a real estate investor, a loan originator and an escrow officer to buy at least 15 homes by lying about his income and assets.
In addition to purchasing homes with the loan proceeds, Rogers was accused of artificially inflating the sales prices in order to divert more than $2.5 million of the proceeds to himself or entities under his control.
He spent the money on international travel, luxury cars, and transfers to his investment accounts.
Copyright 2012 Associated Press. All rights reserved.
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? CBS 5
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Jodi Arias (Source: CBS 5 News)
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(Source: CBS 5 News)
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