University of Cincinnati Coach Bob Huggins hugs guard Anthony Buford during the final seconds of a victory over Memphis State on March 29, 1992. Buford, of Mason, pleaded guilty to one one count of conspiracy to commit mail, wire and bank fraud.
Former University of Cincinnati basketball star Anthony Buford pleaded guilty in U.S. District Court this week to charges of mortgage fraud conspiracy.
Buford, 42, and Jolie O. Neal, 47, both of Mason, pleaded guilty to conspiring to defraud lending institutions out of $2,779,500 by cheating the system in order to obtain mortgages on three properties they owned and keeping the money rather than paying off existing loans.
According to court documents, Buford and Jolie O. Neal of Mason conspired to commit felony bank, wire and mail fraud from 2004 through July 2007.
During that time, Buford worked as a mortgage broker for Dynus Financial Services, which had offices in Bond Hill and Fairfield.
Neal owned Tri-State Title Co. in Sharonville, where she was a closing agent.
Together, Buford and Neal brokered fraudulent deals to refinance property they owned individually and together in Mason by making false representations to Fifth Third Bank and Lehman Brothers, according to court papers.
The properties included 5763 Clearwater Drive, which Buford owned; 6492 Hunters Green, which Neal owned; and 7694 Plantation Drive, which the pair owned together.
Buford and Neal applied for and received nine loans totaling $2.77 million for the three properties in Mason.
Rather than using the loan proceeds to pay off existing mortgages, they used the dollars for personal benefit, Brenda Shoemaker, financial crimes chief for the U.S. Attorney’s office for the Southern District of Ohio, alleges in the filing.
As part of the scheme, the U.S. attorney’s office says, the pair committed mail and wire fraud by mailing and using wire transfers to send off their fraudulent mortgage documents.
Buford was a starting guard on the Bearcats’ 1992 Final Four team. He also has been a television announcer for UC basketball games.
Buford and Neal each pleaded guilty to one count of conspiracy to commit mail, wire and bank fraud. They face a maximum penalty of up to 30 years in prison, a fine of $1 million or twice the gain to the defendant or loss to the victim and mandatory restitution. The plea agreement reached includes a recommended restitution of $2,779,500.
Carter M. Stewart, United States attorney for the Southern District of Ohio, and J. Mark Batts, acting special agent in charge, Federal Bureau of Investigation, announced the pleas entered Tuesday before Senior U.S. District Judge Sandra S. Beckwith.
The judge will set dates for sentencing for the defendants.
Lisa Bernard-Kuhn contributed to this story
