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Las Vegas Woman Gets Jailtime For Mortgage Fraud

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54-year-old Gail Bilyeu, who pleaded guilty to submitting six fraudlent mortgage loan applications during 2004 and 2005, was sentenced to 27 months in prison for her crimes. 

According to U.S. Attorney Daniel G. Bogden, Bilyeu will be on five years of supervised release following her prison time, and will also have to pay approximately $1M in restitution to five federally-insured financial institutions.

Bilyeu was indicted in November 2009, along with co-defendent Malcolm Childress will also spend 15 months in prison, and pay nearly $1M in restitution.

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