Phoenix men sentenced to jail for cash-back fraud scheme
T he crackdown on mortgage fraud in Arizona has resulted in jail sentences for three men tied a cash-back scheme that involved several homes in Chandler, Gilbert and Queen Creek and $6 million in mortgages.
Jeffrey Todd Crandell, 32, of Gilbert earlier pled guilty to six counts of Bank Fraud and was sentenced last Friday to 62 months in jail.
According the U.S. Attorney’s office for the District of Arizona, Crandell was the leader of a sophisticated cash-back mortgage fraud scheme. In 2005, he obtained the rights to properties in Queen Creek, then hid his interest in those properties by putting them in …
