Former Lincoln resident sentenced to more than four years in prison regarding $22-million fraud scheme
SACRAMENTO — On Friday, U.S. District Judge Garland E. Burrell Jr. sentenced Mary Sue Weaver, 65, currently of Scottsdale, Arizona and formerly of Lincoln, to four years and two months in prison. She was also ordered to pay $15,387,945 in restitution for participating in a $22-million fraud scheme, according to U.S. Attorney McGregor W. Scott.
On Dec. 15, 2017, Weaver pleaded guilty to one count of wire fraud and one count of bank fraud. On June 1, 2018, co-defendant Abolghasseni “Abe” Alizadeh, 59, of Granite Bay, was sentenced to four years and eight months in prison and ordered to pay $15,879,945 in restitution to his victims.
According to court documents, Weaver was employed at a local title company and assisted Alizadeh, a Sacramento-area commercial real estate developer, restauranteur and Kobra Properties owner, in a scheme to fraudulently purchase land that he planned to develop.
According to court documents, Alizadeh would write checks for the down payment on a commercial property, but lacking funds to cover the checks, he would ask Weaver to delay depositing the checks until after escrow closed. When escrow closed, Weaver disbursed funds from the title company’s escrow trust account to Kobra Properties. Kobra Properties then used those funds to cover its down payment and other costs. In this way, it appeared as though Alizadeh was making a substantial down payment when he was not. Alizadeh’s entire scheme, involving no fewer than six properties in the Sacramento area, resulted in a loss to various financial institutions of more than $22 million, according to the U.S. Attorney’s office.
This case was investigated by the Federal Bureau of Investigation, the IRS Criminal Investigation and the Federal Deposit Insurance Corporation, Office of Inspector General.