Las Vegas realtor sentenced for bankruptcy fraud scheme
LAS VEGAS (KSNV News3LV) —
A former realtor who owned at least 12 rental properties in Nevada and Texas and filed multiple bankruptcy petitions to avoid paying the mortgages has been sentenced.
Barbara Jean Dennis, 60, of Las Vegas pleaded guilty in February to bankruptcy fraud, admitting that she used the automatic stay provision in bankruptcy proceedings to avoid paying the mortgages, while at the same time, collecting rent from her tenants, according to a Department of Justice news release.
She was sentenced Tuesday to 11 months in prison, two years of supervised release, and ordered to pay a fine of $10,000 and restitution of $83,000. Judge Kent J. Dawson also entered an order restricting Dennis from engaging in real estate business during the period she is on supervised release.
“As this case demonstrates, the fallout from the housing crisis in Nevada is still impacting federal investigations and prosecutions,” said Daniel G. Bogden, U.S. attorney for the District of Nevada. “The prosecution of these cases typically takes years and requires a significant amount of resources.
This prosecution is part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force.