Property

Maryland Man Indicted for Scheme to Steal and Re-Promote Actual Property | USAO-DC

            WASHINGTON – A Maryland man has been charged in a 10-count indictment with finishing up a scheme to steal a residence positioned within the District of Columbia after which reselling the property to an unsuspecting purchaser.

            Franklin A. Olaitan, 48, of Beltsville, was arraigned at this time within the U.S. District Courtroom for the District of Columbia. The indictment in opposition to him was additionally unsealed at this time.  He was launched following his preliminary courtroom look, pending additional courtroom proceedings.

            The indictment was introduced by U.S. Lawyer Matthew M. Graves and Wayne A. Jacobs, Particular Agent in Cost of the FBI’s Washington Area Workplace Felony Division.

            As alleged within the indictment, Olaitan perpetrated a scheme wherein he obtained a residential actual property positioned within the 2000 block of First Road NW by submitting false paperwork to lenders, a settlement firm, and the District of Columbia Recorder of Deeds. It’s alleged that Olaitan shortly resold the residential property to an unsuspecting purchaser and acquired the vendor’s proceeds from each purported gross sales of the property.  In the actual property closings, first, a lender paid roughly $420,000 and, second, a purchaser paid about $550,000.

            Olaitan is charged with 4 counts of wire fraud, two counts of interstate transportation of stolen property, two counts of aggravated id theft, one depend of id theft, and one depend of first-degree fraud. The indictment features a notification of america’ intent to hunt the forfeiture of any proceeds Olaitan acquired on account of the fraud scheme, id theft, and interstate transportation of stolen property.

            An indictment is merely a proper cost {that a} defendant has dedicated a violation of legal legislation and isn’t proof of guilt. Each defendant is presumed harmless till, and until, confirmed responsible.

            This case is being investigated by the FBI’s Washington Area Workplace. It’s being prosecuted by Assistant U.S. Lawyer Diane Lucas of the Fraud Part of the U.S. Lawyer’s Workplace for the District of Columbia, with help from Paralegal Specialists Daniel Haines and Mariela Andrade.

 

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