Daphne Iatridis and her husband, Arthur Telles, both 59, were sentenced to 30 months in prison and ordered the couple to forfeit 26 fraudulently purchased properties to the United States. Both had previously pleaded guilty to conspiracy to commit mail and wire fraud and tax evasion.
The couple’s sons, Brendyn Iatridis and Spenser Iatridis, also pleaded guilty to related crimes and were sentenced to 10 months in prison and probation, respectively.
Between 2008 and 2012, the defendants engaged in an elaborate scheme to obtain more than 30 houses from the Federal National Mortgage Association (“FNMA”). Among other things, they stole others’ identities, used bogus trusts to buy the properties, and fraudulently notarized documents to facilitate the improper purchases. In addition, from at least 2010 through 2015, the defendants failed to pay taxes on their rental income from the fraudulently purchased properties.
“This case epitomized the greed that erodes confidence in the Realtor/Mortgage industry,” said Michael DeLeon, Special Agent in Charge of the FBI Phoenix Division. “I am pleased the defendants are now being held accountable for their crimes and that the majority of the fraudulently obtained properties will be forfeited.”
The investigation in this case was conducted by the Federal Housing Finance Agency’s Office of Inspector General, the Internal Revenue Service-Criminal Investigation, and the Federal Bureau of Investigation.