A Phoenix real estate agent has pleaded guilty in a mortgage fraud scheme that costs lenders almost $10 million.
Federal prosecutors said 31-year-old Jason Thomas Williams pleaded guilty Monday to charges of conspiracy to commit wire fraud.
It was unclear Wednesday when Williams will be sentenced. Prosecutors said he could be facing up to a 30-year prison term.
Three others charged in the same case also have entered guilty pleas while the remaining defendant is scheduled for trial in July.
Prosecutors said that from September 2005 through September 2007, Williams facilitated the submission of mortgage loan applications for unqualified straw buyers that contained false information.
They said Williams and the others concealed cash kickbacks to the straw buyers from lenders.