A former bank branch manager and his wife have both been sentenced to nine years in prison on charges including conspiracy to commit mortgage fraud.

Carl F. Hairston, 32, and Janice Reena Hairston, 38, of Roswell, Ga., were also ordered to pay $416,652 in restitution when they were sentenced Tuesday, the U.S. Attorney for the Northern District of Georgia said in a press release.

Prosecutors charged that between July 2000 and January 2006, the Hairstons obtained mortgage and other loans from banks including First Horizon Money Center, where Carl Hairston was a branch manager. The loan proceeds were laundered through a series of shell companies by Janice Hairston, who also used the name Cheryl Owens.

The Hairstons’ case was aggravated because they continued their fraud after they were indicted, and while awaiting sentencing filed multiple fraudulent bankruptcy petitions in an attempt to keep some of their fraudulently obtained assets, said U.S. Attorney David E. Nahmias.

The couple were convicted Feb. 3 on charges of bank fraud and conspiracy to commit mortgage fraud, bankruptcy fraud, identity theft, money laundering and obstruction of justice.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Learn More×
Connect Now is just days away. Don't miss out.Reserve your seat today.×