Industry News

Four convicted in Kansas City property-flipping schemes

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Three Kansas City men involved in a property-flipping scheme including 289 fraudulent loans were sentenced to prison Wednesday and ordered to pay restitution of $21.7 million. Three former employees of Express Mortgage -- Roderick Neil Criss, Chauncey Calvert and Robert Dale Beckley -- received sentences ranging from one to three years in federal prison after pleading guilty to their roles in the scheme, which racked up $19.6 million in fraudulent loans. Bradley Schlozman, the U.S. Attorney for the Western District of Missouri, called it the largest mortgage fraud case ever prosecuted in the Western District of Missouri. The scheme involved properties in downtown and midtown Kansas City, and was led by Brent Michael Barber, 42, of Belton, Schlozman said. Barber pleaded guilty Feb. 23 to 104 counts contained in two federal indictments involving separate schemes to defraud lenders. According to prosecutors, Barber recruited straw buyers to purchase rental properties, assuring them he w...