Moshin Raza, his wife, Humaira Iqbal, and her brothers Farukh Iqbal and Mohammad Ali Haider will all serve time after being convicted for their part in faking loan documents and committing mortgage fraud. All four were employed by SunTrust Bank when they committed the fraud, according to the U.S. Attorney’s Office.
Raza was hired as vice president at SunTrust Mortgage in 2005 and entrusted with opening a new office in Annandale, Va. He staffed that office by hiring his wife and her brothers, according to the U.S. Attorney.
Authorities say that until they left the company, the group entered false information on loan applications for borrowers and used phony tax documents to back up the applications. SunTrust underwriters approved the loans based upon that fraudulent information.
Raza was sentenced to 24 months in federal prison. Humaira Iqbal was sentenced to 15 months, while her brothers each received a sentence of a year and a day. Raza and Humaira Iqbal were also ordered to pay restitution of more than $1.9 million and forfeit two of their properties.
A former SunTrust executive, his wife and her brothers are headed to federal prison for mortgage fraud.