|Chiedu “George” Chukwuka and wife, Sandra Petgrave|
The sentencing of 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. 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.
They 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.
Chukwuka was sentenced 9 years in prison to be followed by 3 years of supervised release, and ordered to pay restitution in the amount of $5.8m.
Sandra Petgrave was sentenced to one year, six months in prison, to be followed by 3 years of supervised release, and ordered to pay restitution in the amount of $1.1m
Sandra Petgrave won the MBGN crown in 1992. After her reign she relocated to America in the mid nineties where she has been living with her husband, Chiedu. They both have six children together.
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