ABINGDON, Va. — A Wise couple who owned and operated a local real estate agency has been indicted by a federal grand jury on charges of defrauding multiple advance commission companies and aggravated identity theft.
On Thursday, prosecutors said Jessee Allen Deloach, 40, and Natasha Ashley Miller Deloach, 38, who are married, owned and operated Koltown Properties, a real estate agency with locations in Wise and Abingdon.
From March 1, 2016, through Nov. 30, 2019, the Deloaches created at least 19 fraudulent residential sales contracts and submitted them to multiple advance commission companies to fraudulently obtain money, prosecutors said in a news release. Advance commission companies provide a financial service to real estate agents by assisting them with cash flow. Agents sell portions of their pending commissions to legitimate residential sales contracts in exchange for access to cash before the closing date.
Affidavits also said the couple created fake title companies to “verify” the sales contracts were legitimate.
The couple has been charged with wire fraud, aggravated identity theft and conspiracy to commit wire fraud. They are scheduled to make their first court appearance Nov. 9.
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