Industry News

Pair sentenced in real estate fraud case

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A Georgia man was sentenced Thursday to three years in prison and ordered to pay $1.3 million in restitution for bankruptcy fraud related to a scheme to retain fraudulently acquired properties, federal officials said. Hurb Grant, 44, of Lithonia, Ga., was sentenced by U.S. District Judge Richard W. Story, according to the U.S. Attorney's office in Georgia. Grant's co-defendant and wife, Jennifer Grant, 47, pleaded guilty to conspiracy to commit mortgage and bankruptcy fraud in U. S. District Court on Aug. 25, 2005. Jennifer Grant was sentenced in January to five years in prison and ordered to pay $1.3 million in restitution. "These defendants abused both the bankruptcy laws and the bankruptcy court in an effort to retain control of properties they obtained by fraud," U.S. Attorney David E. Nahmias said in a statement. "This abuse of the bankruptcy system continues the blight on neighborhoods that results from mortgage fraud and defeats the legitimate interests of the victims of mort...