June 13--NORFOLK -- A federal court jury convicted a local doctor Thursday of all counts in a scheme to swindle millions of dollars from local banks in a real estate scam.
The jury convicted Irfan Jameel of wire fraud, using a false Social Security number and financial institution fraud.
The jury found that Jameel overinflated his income to obtain $4 million in loans to purchase four homes, each more expensive than the last.
He claimed he was part owner of a company called Biocer and invented a fabricated wood that would resist fire and insect damage. His lawyer told the jury his invention never took off.
In mortgage applications, Jameel reported earning $4 million from Biocer in 2005 and $4.5 million in 2006. He revised his 2006 return to show he earned just under $54 million that year. Prosecutors said those numbers were all false.
Prosecutors showed he also used a fake Social Security number on the 2006 return. Jameel said it was his father's.
Jameel had been out on bond, but U.S. District Judge Henry Coke Morgan Jr. ordered him jailed Friday pending sentencing Oct. 16.
He faces up to 30 years on each of the first three counts and up to five years on the fourth count.
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