SOURCE http://truepundit.com/awan-brothers-house-dem-it-suspects-wanted-untraceable-payments-and-sure-enough-millions-disappeared/
EXCeRPT---Cristal Perpignan, a former Awan renter, said Imran instructed her to pay the rent to Imran’s friend, Rao Abbas, who lived in the basement of the home she occupied at the time Abbas was on the House tax-paid payroll as an IT worker.
Perpignan said Abbas spent his days at home.
Imran’s wife purchased the home in 2008 for $470,000. A second mortgage was taken out in 2012, and — at least on paper — it was sold to Imran’s 22-year old brother Jamal in November 2016 for $620,000 — $43,000 more than its assessed value.
All but five percent of Jamal’s purchase, $589,000, was financed by the bank, according to records reviewed by TheDCNF. This means the transaction netted the family $119,000 of the bank’s money even as the house remained a rental property, without the ownership ever leaving the family.
According to Wells Fargo, people can’t use a standard mortgage for a rental property. The bank must be told of the intent to use the property as a rental, and the applicant generally is required to make a 20 percent down payment. There are no notes in property records that it was not an arms-length sale. __SNIP--rest on FR
No wonder the RAT’s rushed to help get the Awan bothers out of the country
before the FBI arrested them. Now, they are out of reach.
Liz- Those loan documents have footprints. Were bankers, mortgage brokers, appraisers, etc. part of a money laundry?
thanks for the ping.
we are trying to keep these stories together via the keyword “itgate”. Makes it easier to search.
Even if the relationship to the Awans is casual, we are connecting it.
Dovetails nicely with what Webb has been doing.
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