Tucson real estate agents headed to prison for mortgage fraud

Former Tucson real estate agent Bryan Atwood, 52, and loan officer William Michael Naponelli, 69, are the third and fourth defendants to be sentenced to prison in a mortgage fraud case that involved the sale of several properties to straw buyers.

Atwood was sentenced to 15 months in prison and ordered to pay $585,000 in restitution for conspiracy to commit wire fraud after he admitted as part of a guilty plea that he obtained three properties through fraudulently obtained loans. Atwood admitted to knowing that documents provided to lenders on his behalf contained material false representations.

Naponelli, who’d pleaded guilty to conspiracy to commit bank fraud and money laundering, was sentenced to 24 months in prison and ordered to pay $3.1 million in restitution after entering a guilty plea.

Previously, co-defendants Walter Scott Fruit, also a licensed real estate agent, and Sandra Jackson, a former escrow agent, were each sentenced to federal prison for their involvement in the conspiracy: Fruit received a 30-month prison sentence and Jackson got six months. Source: fbi.gov