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An Ashburn man was convicted by a federal jury Monday for his role in fraudulent mortgage loans that involved more than 25 homes in Northern Virginia, resulting in the loss of more than $7 million to lenders.

Nadin Samnang, 29, a D.C. real estate developer and former real estate agent with Monorom Realty and Fairfax Realty was convicted on Friday. Those convictions included nine counts of wire fraud and two counts of mail fraud.

Samnang faces up to 20 years in prison on each count. He will be sentenced in the U.S. Eastern District Court of Virginia on July 20.

According to court records, he used his position as a real estate agent and owner of a title mortgage company to defraud mortgage lenders and profit from loan proceeds, commissions and bonus payments.

Samnang and other people recruited unqualified buyers, usually those with good credit but insufficient assets or income to qualify for particular loans and used them as nominal purchasers in residential real estate transactions, according to court records.

As part of the fraud scheme, Samnang and others falsified mortgage loan applications, created fake documents and added the unqualified buyers as signatories on their bank accounts to make it appear to lenders as though they were qualified for loans.

He would often profit by flipping properties owned by himself and his family members to unqualified buyers using fraudulent loan documents.

According to court documents, when Samnangís promise of flipping the properties failed and kickbacks were given to the buyers to fund mortgage payments were exhausted, the unqualified buyers would default on their loans and the properties would go into foreclosure.

He would also profit by arranging for cash-out refinances for borrowers, retaining most of the loan proceeds for himself and paying kickbacks to the loan officer who processed the fraudulent loans.

An investigation into this case is ongoing by the U.S. Postal Inspection Service and FBIís Washington Field Office.

Assistant U.S. Attorneys Paul J. Nathanson and Kosta Stojilkovic are prosecuting the case on behalf of the United States.