A Bay Area rapper was sentenced to more than seven years in federal prison for his role in a multi-million dollar mortgage fraud and identity theft scheme, federal officials announced Tuesday.
According to Northern District of California U.S. Attorney Stephanie Hinds' office, Mark"Kafani" Hicks, also known as Amir Rashad, was sentenced to 87 months in prison. Hicks, a 42-year-old Oakey resident, was convicted of aggravated identity theft, bank fraud and wire fraud, as part of a plea agreement.
Court documents said Hicks victimized nine people and fraudulently applied for eight loans. While some loans were not approved, in other cases, Hicks convinced lenders to forward funds to fraudulently created bank accounts.According to prosecutors, proceeds from the scheme were used to buy gold bars and coins which were sold for cash by Hicks' co-conspirators. Authorities recovered over $480,000 in illicit gains from a safe deposit box controlled by Hicks' relatives.
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