VIRGINIA MAN CONVICTED OF BANK THEFT IN MARYLAND
Baltimore - Attorney General J. Joseph Curran, Jr., announced today that Ahmad J. Alvi, 40, of Fairfax, Virginia, was convicted by a Montgomery County Circuit Court jury of lying on loan documents in order to obtain a $200,000 mortgage. Sentencing is set for January 18, 2001 before the Honorable Judge Paul McGuckian. Alvi faces up to 15 years in jail and/or a fine of up to $1,000.
On July 19, 1996, Alvi and his wife went to settlement to purchase a home. At the settlement, Alvi, under oath, signed loan documents indicating he earned over $70,000 a year as a doctor. Records from his employer showed that he in fact earned only $21,000 per year. Alvi also provided the bank with verified tax returns that he represented to be true copies of his federal tax returns. Those tax returns reflected the $70,000 income. The state introduced the returns Alvi actually filed with the Internal Revenue Service Records on which Alvi reported no income at all for the relevant period. Based on the misrepresentations made by Alvi, the bank issued the $200,000 mortgage. Finally, despite verifying that the home was purchased as his primary residence, testimony was presented that Alvi never intended to either live in the house or pay the debt.
"The testimony established that Alvi was buying the house for two friends who were unemployed," Attorney General Curran said. "In fact, three days after the settlement, unbeknownst to the bank, Alvi conveyed the house to his friends for $10.00." The loan was defaulted on and the house at issue was foreclosed on two years later.
Alvi had been free on $10,000 bail. Due to the potential effects on Alviís immigration status, after the verdict, the judge increased Alviís bail to $25,000 and Mr. Alvi was taken into custody from the courtroom.
This case was prosecuted by the Medicaid Fraud Control Unit of Maryland Attorney Generalís Office. Mr. Alvi is also under indictment in Montgomery County for conspiracy to commit Medicaid Fraud and practicing medicine without a license.