On September 24, 2015, the DOJ and HUD announced that the owner and employees of a regional mortgage company had been sentenced for their participation in a $64 million mortgage fraud scheme. According to the DOJ, the Defendants operated a regional mortgage company, which specialized in securing Federal Housing Administration (FHA) insured loans. The Defendants allegedly prepared FHA loan applications on behalf of consumers, who in turn purchased condominiums in complexes the Defendants owned. The homebuyers were allegedly unqualified for FHA loans due to insufficient income, debt levels, or credit rating issues. To secure the mortgage loans, the Defendants allegedly submitted fictitious documentation with the mortgage applications, including fraudulent pay stubs, employment verification forms, and other documents. The DOJ brought charges for conspiracy to commit wire fraud affecting a financial institution. The owner of the company was sentenced to 11 years in prison, ordered to pay over $64 million in restitution and forfeit $8 million in illegal profits. The DOJ charged 23 other individuals in connection with the alleged fraudulent scheme. According to the DOJ announcement, some of the Defendants received sentences ranging from 3 to 5 years imprisonment and were ordered to pay restitution in amounts ranging from $7 to $24 million.