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Popular and One time MBGN on her way to jail






One-time Most Beautiful Girl In Nigeria in 1992, Sandra Petgrave and her husband, Chiedu George Chukwuka, have been sentenced to jail in the United States for their involvement in a $5.8 million mortgage fraud.

Sandra and Chiedu have six children
together partook in the fraud which
lasted for 5 years.
 

Chiedu “George” Chukwuka has been
sentenced in connection with his lead role in a mortgage fraud ring that spanned five years and caused millions in losses. Chukwuka, along with his co-defendants and other co- conspirators, engaged in a massive property-flipping scheme resulting in over $5.8 million in actual losses to financial institutions between 2006 and 2011.



At the height of the recent mortgage-
fraud crisis, this property-flipping
scheme caused scores of homes to fall
into foreclosure, costing financial
institutions millions of dollars in
losses,” said U.S. Attorney John Horn.

“Many communities in our district
have been decimated by mortgage
fraud during the last 15 years and
even now struggle to recover from the
effects of these schemes.”

The sentencing of Mr. Chukwuka
brings to a close a lengthy
investigation and prosecution of a
criminal enterprise that targeted the
banking industry through their
prolific mortgage fraud schemes. Mr.
Chukwuka, considered by law
enforcement and prosecution to be
head of this enterprise, caused
extensive damage with high loss
amounts to those victim banks
involved.

The FBI is pleased with the role it played in bringing about this sentencing to federal prison of Mr.
Chukwuka as well as the previous
sentencings of his co-defendants in
this matter,” said J. Britt Johnson,
Special Agent in Charge, FBI Atlanta
Field Office.

The charges and other information presented in court: Chukwuka, along with his co- defendants and co-conspirators, recruited straw buyers to purchase homes at a discounted price, typically a bank-owned or distressed property.

The group then recruited a second
straw buyer to purchase the same
home at a dramatically inflated price.
In turn, Chukwuka, his co-defendants
and co-conspirators applied for an
acquisition loan for the second straw
buyer, supporting the loan application with false income, fake employment, and fraudulent net worth data.

The group profited from their scheme
by pocketing the acquisition loan
proceeds paid by the victim bank to
the straw seller (who was the straw
purchaser in the first transaction).

The amount of profit was the
difference between the price paid by
the straw purchaser in the first
transaction and the price paid by the
straw purchaser in the second
transaction, less transaction costs.
Since none of the straw purchasers
made any significant loan payments,
the targeted properties usually went
into foreclosure, resulting in over
$5.8 million in actual losses to
financial institutions between 2006
and 2011.

Chiedu “George” Chukwuka, 47, of
Stone Mountain, Georgia, was
sentenced by U.S. District Court Judge
Timothy C. Batten, Sr. to serve nine
years in prison to be followed by
three years of supervised release, and
ordered to pay restitution in the
amount of $5,868,243.80. Chukwuka
was convicted of conspiracy to
commit wire fraud on August 10,
2015, after he pleaded guilty.

The following five defendants also
pleaded guilty for their roles in the
scheme, and were previously
sentenced by U.S. District Court Judge
Timothy C. Batten, Sr. as follows:
Shelly Gee, a/k/a Shelly Baker, 48, of
Atlanta, Georgia, was sentenced on
November 10, 2015, to one year, six
months in prison, to be followed by
three years of supervised release, and
ordered to pay restitution in the
amount of $2,243,909.99.

Gee was convicted after pleading guilty on June 17, 2015. Sandra Petgrave, 43, of Stone Mountain, Georgia, was sentenced on December 4, 2015, to one year, six months in prison, to be followed by three years of supervised release, and ordered to pay restitution in the amount of $1,051,970.77.Petgrave
was convicted after pleading guilty on
August 18, 2015.

Kennedy Simmonds, 54, of Snellville,
Georgia, was sentenced on December
17, 2015, to three years, ten months
in prison, to be followed by three
years of supervised release, and
ordered to pay restitution in the
amount of $5,868,243.80. Simmonds
was convicted after pleading guilty on
July 6, 2015.
Marcelle Welch, 37, of Stone
Mountain, Georgia, was sentenced on
December 17, 2015, to two years,
three months in prison, followed by
three years of supervised release, and
ordered to pay restitution in the
amount of $2,554,189.25. Welch was
convicted after pleading guilty on July
29, 2015.

Leah Freeman, 43, of Atlanta,
Georgia, was sentenced on December
17, 2015, to two years in prison, to be
followed by three years of supervised
release, and ordered to pay restitution
in the amount of $1,828.532.94.
Freeman was convicted after pleading
guilty on June 19, 2015.

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