Federal Judge Sentences San Antonio Man for Fraud and Money Laundering Scheme
U.S. Attorney’s Office March 19, 2009 |
United States Attorney Johnny Sutton announced that Alvin W. Byrd, Jr., of San Antonio was sentenced to 150 months in federal prison this morning for his role in a real estate fraud scheme.
In addition to the prison term, United States District Judge Orlando Garcia ordered that Byrd pay a $100,000 fine and restitution of $271,403.33. Judge Garcia also ordered that Byrd be placed under supervised release for a period of three years and perform 100 hours community service at a homeless shelter after completing his prison term.
In December 2007, a jury convicted Byrd of one count of mail fraud, one count of interstate transportation of stolen property and five counts of money laundering. The jury found that Byrd, posing as a successful real estate investor who just moved from the Washington, D.C. area, engaged in a complex get-rich-quick scheme from December 2006 to February 7, 2007. The jury also ordered the forfeiture to the government of a 2006 Hummer, approximately $87,000 seized from the defendant’s bank and investment accounts, plus a $10,000 cashier’s check secured by the defendant.
In the scheme, Byrd agreed to purchase a house at 25307 Mesa Ranch for $395,000. In addition, the agreement called for the seller to loan Byrd $192,000 to cover closing costs. Byrd convinced the seller that his money was tied up but provided the seller with a post dated check in excess of $325,000 to cover the loan plus additional costs. Unbeknownst to the victim, the check was drawn on a closed brokerage account. Byrd converted the victim’s $192,000 check into a cashier’s check, then subsequently into five cashier’s checks. Byrd used the money to pay a Maryland hotel bill in excess of $17,000 where he and his wife lived without paying for almost one year, a hotel bill totaling $4,800 he amassed while he and his wife lived here in San Antonio during a two-month period and for the purchase of a 2006 Hummer for $66,000.
This case was investigated by the Federal Bureau of Investigation. Assistant United States Attorneys Ray and Leroy Jahn prosecuted this case for the government.