Texas homebuilder sentenced in alleged ‘straw buyer’ fraud scheme

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Prosecutors accused a homebuilder of enlisting "straw buyers" to purchase his houses at padded prices so that he would have enough money to pay back development loans.

March 30, 2016
Texas homebuilder sentenced in alleged ‘straw buyer’ fraud scheme

Photo: Bryan Siders/Creative Commons.

Texas homebuilder Dean Buescher was sentenced to three years’ probation and must pay $436,434 in restitution for a pattern of alleged fraudulent transactions, according to the Dallas Morning News.

Prosecutors accused Buescher of enlisting "straw buyers" to purchase his houses at padded prices so that he would have enough money to pay back development loans. This was as part of a wider scheme in 2007, prosecutors said. At least seven other area builders were sent to prison as a result of the investigation, according to the Morning News.

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