Ex Nigerian Beauty Queen, Sandra Petgrave, and her husband have been convicted in the United States for fraudulent activites.
Sandra got married to George Chukwukwa and the couple are blessed with six children including twin boys.
Sandra relocated from Nigeria to the US in the mid nineties and is a Certified Dream Builder and Law of Attraction Coach.
According to an article posted by the United States Attorney’s office, here are the charges involving Sandra, her husband and some others:
Chiedu “George” Chukwuka has been sentenced in connection with his lead role in a mortgage fraud ring that spanned five years and caused millions in losses. Chukwuka, along with his co-defendants and other co-conspirators, engaged in a massive property-flipping scheme resulting in over $5.8 million in actual losses to financial institutions between 2006 and 2011.
U. S. Attorney John Horn said: “At the height of the recent mortgage-fraud crisis, this property-flipping scheme caused scores of homes to fall into foreclosure, costing financial institutions millions of dollars in losses,”
“Many communities in our district have been decimated by mortgage fraud during the last 15 years and even now struggle to recover from the effects of these schemes.”
Also adding, J. Britt Johnson, Special Agent in Charge, FBI Atlanta Field Office, said: “The sentencing of Mr. Chukwuka brings to a close a lengthy investigation and prosecution of a criminal enterprise that targeted the banking industry through their prolific mortgage fraud schemes. Mr. Chukwuka, considered by law enforcement and prosecution to be head of this enterprise, caused extensive damage with high loss amounts to those victim banks involved.
The FBI is pleased with the role it played in bringing about this sentencing to federal prison of Mr. Chukwuka as well as the previous sentencings of his co-defendants in this matter,”
According to U.S. Horn, the charges and other information presented in court: Chukwuka, along with his co-defendants and co-conspirators, recruited straw buyers to purchase homes at a discounted price, typically a bank-owned or distressed property. The group then recruited a second straw buyer to purchase the same home at a dramatically inflated price.
In turn, Chukwuka, his co-defendants and co-conspirators applied for an acquisition loan for the second straw buyer, supporting the loan application with false income, fake employment, and fraudulent net worth data.
Sandra Petgrave and husband Chiedu Chukwuka
The group profited from their scheme by pocketing the acquisition loan proceeds paid by the victim bank to the straw seller (who was the straw purchaser in the first transaction). The amount of profit was the difference between the price paid by the straw purchaser in the first transaction and the price paid by the straw purchaser in the second transaction, less transaction costs. Since none of the straw purchasers made any significant loan payments, the targeted properties usually went into foreclosure, resulting in over $5.8 million in actual losses to financial institutions between 2006 and 2011.
Chiedu “George” Chukwuka, 47, of Stone Mountain, Georgia, was sentenced by U.S. District Court Judge Timothy C. Batten, Sr. to serve nine years in prison to be followed by three years of supervised release, and ordered to pay restitution in the amount of $5,868,243.80. Chukwuka was convicted of conspiracy to commit wire fraud on August 10, 2015, after he pleaded guilty.
His wife Sandra Petgrave, 43, of Stone Mountain, Georgia, was also sentenced on December 4, 2015, to one year, six months in prison, to be followed by three years of supervised release, and ordered to pay restitution in the amount of $1,051,970.77.
Petgrave was convicted after pleading guilty on August 18, 2015