David Kostelec, 54, pleaded guilty in October to one count of conspiracy to commit wire fraud and money laundering
David Kostelec, 54, pleaded guilty in October to one count of conspiracy to commit wire fraud and money laundering, and one count each of providing false information to lenders and aggravated identity theft.His sentence was 154 months.From July 2002 to October 2005, federal prosecutors said, he was part of a conspiracy to defraud lenders through fraudulent loan applications, false real estate appraisals and attempts to conceal them by laundering money through various banks.After closing, prosecutors said, he and other conspirators used straw companies to receive money from escrow accounts and then moved the money to personal accounts.In one scheme, they said, he admitted that he falsely said he had power of attorney to get a loan in his son’s name for $575,000 to buy properties in Kansas City and Miami, Fla
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