Mortgage broker, Mark Bowe, Jr., was sentenced to 42 months in prison, followed by five years of supervised release after pleading guilty to conspiracy to commit bank and wire fraud. Bowe was also ordered to pay $604,551 in restitution.
The indictment alleged that between 2003 and 2008, Bowe was a licensed mortgage broker operating through mortgage companies located in Raleigh, N.C. Bowe allegedly participated with others, including developer David Johnson, developer Arthur Barnes, real estate broker Mark Tkac, and attorney James Taggart in a real estate flipping scheme that defrauded various banks and lenders.
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