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NORFOLK, Va. (AP) — A Virginia real estate broker has pleaded guilty to secretly buying government-owned properties he had been hired to sell.
The Virginian-Pilot of Norfolk reports federal prosecutors say 55-year-old Robert Resh pleaded guilty on Wednesday to conspiracy to commit mail and wire fraud.
According to prosecutors, Resh repeatedly bought U.S. Department of Housing and Urban Development properties he was selling with the help of a real estate attorney and various straw purchasers. According to prosecutors, the attorney warned Resh to stop the practice, but he didn’t.
Court documents say Resh used a series of shell companies he controlled to buy four properties across the Hampton Roads area.
Resh is scheduled for sentencing on Dec. 10, and could get up to five years in prison.
Information from: The Virginian-Pilot, http://pilotonline.com