On Friday, it was announced that four members of a Phoenix, Arizona family had been sentenced for real estate fraud and tax evasion. Daphne Iatridis and her husband, Arthur Telles, were both sentenced to 30 months in prison. Both were also ordered to forfeit 26 properties to the United States. Those properties were fraudulently purchased by the defendants. Both defendants had previously pleaded guilty to conspiracy to commit mail and wire fraud and tax evasion.
The couple’s sons, Spenser Iatridis and Brendyn Iatridis, also pleaded guilty to crimes related to the scheme. The sons were sentenced to 10 months in prison and probation. Between 2008 and 2012, the four defendants were involved in a complex scheme to obtain more than 30 homes from the Federal National Mortgage Association. To obtain the homes, the defendants utilized stolen identities and bogus trusts. They also fraudulently notarized documents.
Between 2010 and 2015, the defendants failed to pay taxes on rental income from properties that had been purchased fraudulently. Again, Daphne Iatridis and Arthur Telles have been sentenced to 30 months in prison.