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Phoenix family members sentenced for real estate fraud, tax evasion

Posted by   /  September 11, 2017  /  No Comments

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ADI News Services

Daphne Iatridis and her husband, Arthur Telles, both 59, were sentenced to 30 months in prison and ordered the couple to forfeit 26 fraudulently purchased properties to the United States. Both had previously pleaded guilty to conspiracy to commit mail and wire fraud and tax evasion.

The couple’s sons, Brendyn Iatridis and Spenser Iatridis, also pleaded guilty to related crimes and were sentenced to 10 months in prison and probation, respectively.

Between 2008 and 2012, the defendants engaged in an elaborate scheme to obtain more than 30 houses from the Federal National Mortgage Association (“FNMA”). Among other things, they stole others’ identities, used bogus trusts to buy the properties, and fraudulently notarized documents to facilitate the improper purchases. In addition, from at least 2010 through 2015, the defendants failed to pay taxes on their rental income from the fraudulently purchased properties.

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