A reality show star is facing a stiff prison sentence after he pleaded guilty to conspiracy to commit bank fraud and two other charges involving furniture stores he owns. In addition, he also pleaded guilty to aggravated identity theft and money laundering conspiracy.
Scott Menaged of Property Wars is scheduled to be sentenced at the end of December. He is facing at least 10 years behind bars and will have to pay more than $2.1 million in restitution for this elaborate criminal activity.
Along with three other defendants, Menaged falsified receipts at his Furniture King stores. They also used the information on recently deceased people to illegally obtain credit cards. “It was basically a scheme where they obtaining loans that they weren’t entitled to, using the names of deceased individuals, to get those loans,” IRS Special Agent Brian Watson said.
Imagine the pain this man caused for grieving families whose deceased loved one was the subject of identity theft. While this might be viewed as a stiff sentence for someone who didn’t commit a violent crime, he seems to deserve it.
More information about this Discovery Channel star’s crimes is in the video below.
Property Wars focused on a group of buyers who attempted to outbid each other on multiple foreclosed properties in the Phoenix area.
According to the plea agreement, Menaged and his co-conspirators obtained more than 2,700 loans between June 2013 and January 2016 worth more than $730 million. Menaged pleaded guilty to embezzling $34 million of that amount for personal expenses, car payments, Las Vegas trips, gambling, and fund transfers to family and friends.
Menaged pleaded not guilty to the charges in May before making a plea deal and admitting to his crimes. A judge will determine the final sentence on December 27th.
Property Wars aired for two seasons in 2012 and 2013
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Source: KTAR