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