Three Elk Grove residents pleaded guilty today in federal court in Sacramento to charges arising from a mortgage fraud scheme.
The guilty pleas by Ali Khalil, 32, Amanullah Khalil, 39, and Wahidullah Khalil, 27, were announced today by U.S. Attorney Benjamin B. Wagner.
Ali Khalil, a former Elk Grove police officer who holds a bachelor's degree in criminal justice, pleaded guilty to wire fraud and structuring financial transactions to evade currency transaction reporting requirements, according to a federal Department of Justice news release. Amanullah Khalil, who described himself as a businessman and entrepreneur, pleaded guilty to making false statements on a loan application. Wahidullah Khalil, a former banker who also holds a bachelor degree in criminal justice, pleaded guilty to structuring financial transactions to evade currency transaction reporting requirements.
According to court documents, Ali Khalil submitted fraudulent loan applications in connection with his purchase and subsequent refinance of homes in Elk Grove and Watsonville. The applications inflated his income and assets, falsely stated that he intended to occupy each home as his primary residence and failed to disclose the existence of the other property. After receiving the proceeds of one of the loans, Khalil made bank deposits of $9,800 on two successive days. The reason the deposits were split was to evade currency reporting requirements that are triggered by deposits of more than $10,000, officials said.
Amanullah Khalil submitted fraudulent loan applications in the name of his wife in connection with a loan and a home equity line of credit on a residence in El Dorado Hills, according to court documents. The applications falsely inflated his wife's income and assets, falsely stated that the couple intended to occupy the home as their primary residence, and falsely stated that his wife intended to use the proceeds from the home equity line of credit to expand her business. Instead, officials said, the money that Khalil and his wife received from the fraudulently obtained loans was used to purchase cars in Afghanistan.
According to court documents, Wahidullah Khalil made bank deposits of $9,800 on two successive days for the purpose of evading the currency transaction reporting requirements. Eventually, that money, along with other money supplied by his two co-defendants, was used to purchase a property in Folsom. As part of the plea agreement, all three defendants agreed tot forfeit to the United States any right, title or interest they have in that property, officials said. In addition, Ali Khalil and Amanullah Khalil will be required to pay restitution to the defrauded lenders. The restitution is expected to be approximately $300,000 for Ali Khalil and about $486,000 for Amanullah Khalil.
The three are to be sentenced Nov. 2 by U.S. District Judge Garland E. Burrell.
The case resulted from an investigation by the Internal Revenue Service - Criminal Investigation.
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