Posted Jan 09, 2013 06:16 pm CST
A real estate closing attorney will take a plea in a federal mortgage fraud case that was unsealed last week in Birmingham, Ala.
Kelvin Leonard Davis, 41, has agreed to plead guilty to four counts of wire fraud, concerning transactions in which he submitted fraudulent documents to lenders to obtain mortgages, reports the Birmingham News. Lenders reportedly lost nearly $1 million as a result of the crime.
Davis will also forfeit over $269,000 to the government as proceeds of the crime, according to U.S. Attorney Joyce White Vance. A FBI press release provides further details.
The charges carry a maximum of 20 years and a $1 million fine on each count. There’s no word on whether an agreed sentence recommendation was part of the plea bargain.