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Real Estate/Development

Mar. 23, 2016

Real estate brokers sentenced to prison for 'debt elimination' scheme

Brothers and former San Diego real estate brokers Adel Afkarian and Atef Afkarian were sentenced Monday to prison for their role in a fraudulent "debt elimination" scheme that purported to eliminate the mortgages on several million-dollar homes in San Diego.

Brothers and former San Diego real estate brokers Adel Afkarian and Atef Afkarian were sentenced Monday to prison for their role in a fraudulent "debt elimination" scheme that purported to eliminate the mortgages on several million-dollar homes in San Diego.

U.S. District Judge John A. Houston sentenced Adel Afkarian to serve 18 months in custody and Atef Afkarian to serve 13 months. The brothers were both ordered to pay more than $5.5 million in restitution to the victims of the sche...

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