Industry News

Fugitive faces charges in alleged $29M real estate scheme

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A federal fugitive wanted on charges he engaged in a $29 million Chicago mortgage fraud scheme was returned to the U.S. last week by Canadian authorities, the Chicago Tribune reported Sunday. Mohammad Taghie "Mike" Kakvand was being held in New York until federal authorities can return him to Chicago, Chris Kealey, of the Canada Border Services Agency told the Tribune. Kakvand was caught when he was pulled over for speeding while driving from Toronto to Montreal, where he had an appointment under another name with immigration authorities to obtain a visa to stay in the country, reports said. Kealey said Kakvand, who is a citizen of Iran and a resident of the United Arab Emirates, had fled to his native Iran after he was indicted in the Chicago mortgage fraud case in October 2004, reports said. There he legally changed his name to Mohammad Taghie Azadvala and entered Canada on a visitor's visa Oct. 20, according to reports. Nine days later, he was traveling to the immigration office ...