Industry News

Kansas City man pleads guilty to real estate fraud

Admits role in $1.2M scheme

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John D. Myers, a co-defendant with former congressional candidate Adam Taff in a federal mortgage-fraud case, pleaded guilty Friday to one count of wire fraud, the Kansas City Star reported Saturday. Myers changed his plea to guilty at a hearing before U.S. District Judge John W. Lungstrum in Kansas City, Kan., the Star reported. The co-defendant admitted he had agreed to sell a $1.2 million house in Lake Quivira, Kan., to Taff, reports said. Myers admitted that Taff withdrew $300,000 from his campaign committee accounts and purchased an official bank check payable to Myers and his wife, according to the Star. Myers admitted that he and Taff then met with a closing agent at a title company and represented the check as a down payment, even though they did not intend to make that down payment, the Star reported. Taff, with Myers' consent, then took the check back to the bank and deposited the funds back into his campaign accounts, accounts said. During the hearing, J.R. Hobbs, w...