Ira Morya Davis, 40, of Irving, has pleaded guilty to conspiracy to commit wire fraud on Oct. 26, before Judge Kimberly Priest Johnson.
According to court records, Davis and at least two other accomplices devised a fraud scheme that targeted financial institutions and those buying real estate.
Davis and his accomplices created shell companies and executed several mortgage and property files that transferred ownership interests of properties from their actual owners to the fraudulent companies.
Once obtained, those documents were filed with county offices while Davis and others falsely claimed that they had mortgage liens on the properties. The conspirators then sold the properties and made the title companies unknowingly fund the shell companies.
Davis also obtained and used fraudulent notary stamps using real people’s identities, which helped the conspirators legitimize their otherwise fraudulent document.
A federal grand jury indicted Davis on Mar. 12, 2020, and he is now facing up to 20 years in federal prison. Davis’ sentencing hearing will be scheduled on completion of the U.S. Probation Office’s presentence investigation.
