Seven Wichitans charged with mortgage fraud

WICHITA, Kansas – Seven Wichitans are charged with mortgage fraud that resulted in losses to lenders of more than $221,000.

U.S. Attorney Barry Grissom says the seven people were involved in a scheme that targeted numerous banks, the Federal Housing Administration, the Federal Deposit Insurance Corporation (FDIC), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Grissom says Manjur Alam, 45, was the leader of the conspiracy.

He says Alam’s realtor license had been suspended and Alam was on probation for a federal conviction.

Alam allegedly used straw sellers to purchase homes and flip the properties to straw buyers, luring both with the promise of easy money.

Alam is charged with conspiracy, wire fraud, bank fraud, making a false statement to the Department of Housing and Urban Development and money laundering.

Also named in the indictment:

  • Janice Young, 26, charged with conspiracy, wire fraud and making a false statement to HUD
  • Bruce Dykes, 44, charged with conspiracy and wire fraud
  • Christopher Ginyard, 27, charged with conspiracy and wire fraud
  • Henry Pearson, Sr., charged with conspiracy and wire fraud
  • Henry Pearson, Jr., charged with conspiracy and bank fraud
  • Steven Pelz, charged with conspiracy and wire fraud

If the defendants are found guilty, they could face a lengthy prison time and fines up to $250,000.

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