Owner, accomplice sentenced in investment scheme
The owner of Invictus Financial Group in Havertown was sentenced to 60 months in prison and ordered to pay restitution of $3.9 million for operating a real estate investment scheme that caused $6 million in losses to lenders, the U.S. Attorney's Office in Philadelphia said.
The owner of Invictus Financial Group in Havertown was sentenced to 60 months in prison and ordered to pay restitution of $3.9 million for operating a real estate investment scheme that caused $6 million in losses to lenders, the U.S. Attorney's Office in Philadelphia said.
Kirk H. Kirby, of Capital Heights, Md., pretended to be a licensed mortgage broker and ran what the government said was similar to a Ponzi scheme in 2006 and 2007.
An accomplice, Sholanda Y. Johnson, of Philadelphia, was sentenced to 30 months and ordered to pay back $2.4 million.
They obtained loans for properties in Pennsylvania, New Jersey and other states using bogus loan documents, U.S. Attorney Zane David Memeger said.
Kirby and Johnson pleaded guilty to wire fraud. - Paul Schweizer