Fryar and McGhee declined a plea deal, as their lawyers argued they too were victims. Fryar indicated he was coerced by con man, William Barksdale. The former financial planner was allowed a plea deal in exchange for testimony against his co-conspirators. In 2014, Barksdale received a lenient sentence of 20 months for his part in defrauding multiple financial institutions of more than $2 million dollars over a three-year period. (Hefler, 2014)
Believing Barksdale didn’t leave them wanting, as they’re said to have made 1.2 million from the scheme. The scheme involved applying for multiple loans in a short amount of time, and using the same property as collateral for each loan. McGhee also exaggerated her earnings as a church event coordinator for Fryar’s Church. After these victims were approved for multiple mortgages, they made a few payments on four of the loans. In the end, the banks wrote off their mortgages as losses. (Nathan, 2015)
The victim card only takes you so far when you’re expected to practice what you preach. The claim would make sense if the two received one loan, and Barksdale obtained the funds from the multiple loans they applied for his benefit. However, the prosecution argued that the financially strapped Fryar paid off tax liens and other debts after receiving the loans. They indicated the funds obtained financially benefitted Fryar, making it difficult to see the victim side of the two being accused of deception and theft.
While you can imagine how easy it would be to take advantage of free bread, they may want to stick to the Lord’s bread to avoid future trouble once their time has been served.
Hefler, J. (2014, 02 23). 20 months for planner in Burlco mortgage scheme. Retrieved 08 15, 2015, from Philly.com: http://articles.philly.com/2014-02-23/news/47584746_1_mortgage-scheme-loans-irving-fryar
Nathan, A. (2015, 08 07). Irving Fryar Convicted in Mortgage Scam: Latest Details, Comments, Reaction. Retrieved 08 15, 2015, from Bleacher Report: http://bleacherreport.com/articles/2542697-irving-fryar-convicted-in-mortgage-scam-latest-details-comments-reaction