Officials said the defendants intended to profit by funneling substantial sums of money back to themselves and others from excess sales proceeds under the guise of remodeling, repair costs or marketing service fees.
Trial evidence showed that Baum, a real estate agent, told potential home buyers they could receive substantial funds at closing under the guise of “repair costs,” if they agreed to buy the homes at an inflated price, prosecutors said.
Saturday, October 13, 2007
Joplin real estate agent sentenced to seven years in prison
Joplin real estate agent Brandon Baum was sentenced to 87 months in federal prison Friday after a jury found him guilty of mortgage fraud involving properties in Edmond, Okla.: