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

 

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
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×