WASHINGTON (DC News Now) — A 68-year-old D.C. man will serve more than a decade in prison for his role in stealing retail property to generate over $850,000 in fraudulent loans.
The United States Attorney’s Office for the District of Columbia (USADC) announced Thursday that Jeffrey M. Young-Bey was sentenced to 138 months in prison on 12 federal charges, including bank fraud, mail fraud, identity theft and more.
Human remains found in Southeast DC, homicide investigation underway
Evidence revealed that Young-Bey’s conspiracy began in November 2019, when he stole a residential townhome located in LeDroit Park to obtain a mortgage financing against the property.
Officials said that during the scheme, he targeted a property owned by an elderly person. He then created a fake property deed, including forged signatures of the true owners, and used a fake notary stamp to make the deed appear legitimate…