Industry News

Kansas City man convicted of real estate loan fraud

Investor used bogus documents to defraud lenders

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A federal jury Friday convicted a Kansas City real estate investor of using bogus documents in a scheme to defraud two mortgage lenders, the Kansas City Star reported Saturday. The convictions came in the first of two trials anticipated for Brent Michael Barber of Belton, Kan., who was indicted three times over the last 16 months in mortgage and real estate fraud schemes, media accounts said. Barber's second trial on more than 120 federal felonies is expected to open in February, the Star reported. In May, a judge jailed Barber, 41, after learning that while free on bond, he had improperly persuaded a former homeowner to sign away about $20,000 from the sale of his house, reports said. Since then the judge has refused to release Barber after determining that even while in jail he had made improper filings with Jackson County on real estate matters, according to reports. In the case heard this week, Barber was convicted of conspiracy and two counts of wire fraud involving his attempt...