NICEVILLE -- A former builder has been sentenced to six years and three months in prison for fraud and theft of his ex-wife’s identity, according to the U.S. Attorney’s office.
Lawrence Allen Wright, 46, of Niceville, was sentenced by Senior Federal District Court Judge Lacey A. Collier and ordered to pay more than $3.7 million in restitution.
Wright’s sentence came after his guilty plea in October to one count of conspiracy to commit bank fraud, one count of conspiracy to commit money laundering, two counts of bank fraud, one count of mail fraud, one count of aggravated identity theft, and one count of making a false statement to federally insured financial institution, according to a news release from the U.S. Attorney’s office.
Wright admitted to conspiring with others to commit bank fraud and money laundering. As a part of that scheme, Wright solicited people to act as straw buyers to purchase unimproved lots in Walton County so he could use loans from Countrywide to build homes on the lots. While soliciting the straw buyers, Wright promised to make payments on the fraudulent loans and pay the earnest money deposit and closing costs, the U.S. Attorney’s office said.
Wright told the straw buyers he could sell the properties for a profit after he built the homes and that he would then share a portion of the proceeds with them.
Three of the counts concerned Wright causing another person to sign his ex-wife’s name on legal documents without his ex-wife’s permission. They included mortgage loan documents, promissory notes and tax returns.
In addition to the conspiracy charges, Wright pleaded guilty to defrauding Regions Bank, Beach Community Bank and GulfSouth Private Bank.