Socialite loses appeal over mortgage fraud sentence

By on November 6, 2017
Socialite loses appeal over mortgage fraud sentence

Socialite Eli Devoy has lost an appeal to the Supreme Court against her prison sentence.

She was sentenced to five years in prison for her role in a multi-million-dollar mortgage fraud.

In 2016, Devoy was found guilty of conducting a series of property sales and purchases between July 2007 and December 2010 which deceived banks into approving mortgage applications that contained false information and supporting documents.

Devoy, who also goes by the name Ellie Stone, Eli Ghorbani and Elaheh Ghorbani Sar Sangi, was the principal defendant the scheme which also included six additional defendants: Mehrdad Ghorbani (also known as Mohammad Ghorbani Sarsangi), Mehrzad Ghorbani (also known as Mehdi Ghorbani), Hassan Salarpour, Nasrin Kardani, Mehran Ghorbani (also known as Massoud Ghorbani and Ken Williams) and Javad Toraby.

Read the full article by Susan Edmunds > Business Day -