Jeffrey M. Young-Bey, a 68-year-old resident of the District of Columbia, has been sentenced to 138 months in prison for his involvement in a scheme to steal residential real estate and secure over $850,000 in fraudulent loans. The announcement was made by U.S. Attorney Jeanine Ferris Pirro.
Young-Bey was convicted by a jury on February 12, 2024, on multiple federal charges including conspiracy to commit mail fraud and bank fraud, bank fraud, mail fraud, money laundering, and aggravated identity theft. Alongside the prison term, U.S. District Judge Colleen Kollar-Kotelly ordered five years of supervised release.
The FBI's Washington Field Office led the investigation with Assistant Director Steven J. Jensen participating in the announcement.
According to evidence presented by the government, Young-Bey initiated his fraudulent activities in November 2019 by targeting a residential townhome in LeDroit Park owned outright by an elderly homeowner. He forged property deeds with fake signatures and notary stamps to transfer ownership to a corporate entity he controlled.
Young-Bey filed these deeds with the District of Columbia Recorder of Deeds and attempted to evade payment for transfer taxes through stop payment orders on checks issued for this purpose. Subsequently, he misled mortgage services into granting loans against properties he did not own.
In one instance involving a LeDroit Park home, Young-Bey secured approximately $360,000 from a mortgage company using false rental leases and split the proceeds with an associate. His share funded the purchase of a BMW 3-Series valued at around $23,000.
A similar scheme targeted another property in Shephard Park where Young-Bey used forged documents to obtain over $500,000 as a construction loan and purchased a BMW 7-Series worth about $120,000. He later sold this property for an additional profit before rightful owners were alerted during renovations initiated by its new buyer.
The case involved investigative efforts from both the FBI’s Washington Field Office and Metropolitan Police Department. Prosecution was handled by Assistant U.S. Attorneys Christopher R. Howland and Kevin L. Rosenberg along with Paralegal Specialist Gina Torres among others who contributed significantly throughout various stages of investigation or prosecution phases related directly towards apprehending those responsible within fraudulent activities surrounding these events taking place across different locations inside D.C.'s jurisdictional boundaries involving real estate transactions being manipulated illegally without consent nor knowledge belonging originally towards legitimate ownership parties concerned therein initially impacted adversely upon discovery subsequently following criminal actions committed thereof finally leading up until court proceedings concluded recently thus resulting ultimately now finalized sentence imposed accordingly against defendant named hereinabove referenced case file number provided accordingly also included documentation records associated thereby contained inclusive all relevant details pertaining matter fully disclosed comprehensively covered under current legal framework applicable jurisdictionally enforced statutory regulations governing such cases tried duly authorized competent authorities presiding judicial capacity overseeing entire process adjudicated formally recognized officially sanctioned accordance procedural guidelines established precedent setting example deterrence future potential offenders contemplating engaging similar conduct deterred effectively consequence ramifications experienced personally witnessed firsthand repercussions encountered previously faced consequences legally accountable respective responsibilities held accountable upheld justice served public interest safeguarded protection rights individuals affected protected integrity maintained trust restored confidence reinforced community assurance law enforcement agencies dedicated commitment duty uphold principles fairness equality impartiality respect rule abiding citizens expected adhere obligations comply societal norms standards behavior expected 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