KANSAS CITY — A Kansas City man who led a $3 million mortgage fraud scheme has been sentenced to more than four years in federal prison. U.S. Attorney Barry Grissom said 28-year-old Eric Rabicoff received 51 months in federal prison and was ordered to forfeit $50,000 in connection with his guilty plead to one count of money laundering. Rabicoff admitted to defrauding mortgage lenders by funneling more than $3 million in loans to straw buyers to buy homes in Olathe, Kansas City, and Lee’s Summit, Mo. The scheme also called for contract prices to be increased and for conspirators to receive money by submitting false invoices to title companies for improvements on the houses that never were made, Grissom said. The invoices were submitted in the name of MSM Enterprises. Nine other co-defendants have received sentences. Rabicoff was the last person to be sentenced and received the longest sentence.
Tuesday, Jan. 25, 3 p.m.
