A Remind-erville man and his brother await sentencing after pleading guilty to fraud charges in a money laundering case.
Timothy Holman, 44, of Reminderville and Stephen S. Holman, 40, of Cleveland each pleaded guilty to one count of conspiracy to commit mail fraud and one count of money laundering in the U.S. District Court of Northern Ohio in Cleveland on Oct. 27. Both charges are federal offenses.
The brothers are two of 12 individuals included in a 29-count federal indictment regarding a mortgage fraud scheme, where investors reportedly lost $3.3 million.
Besides the two charges to which the brothers have pleaded guilty, the indictment included 27 counts of mail fraud.
Timothy Holman’s attorney, Mark DeVan, said that because of a plea agreement, all other charges will be dismissed at sentencing. The Holmans are scheduled to be sentenced in February 2012.
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