June 12--NORFOLK -- A federal court jury today convicted a local doctor 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, two counts of financial institution fraud and using a false Social Security number.
The jury found that Jameel, of Virginia Beach, overinflated his income to obtain $4 million in loans to purchase four homes, each more expensive than the previous house.
Jameel claimed to be part owner of a company called Biocer and that he had invented a type of 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 later revised his 2006 return to show that he earned just under $54 million that year. Prosecutors said those numbers were all false.
Prosecutors showed that he used a false Social Security number on that 2006 return as well. 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 in prison on each of the first three counts and up to five years on the fourth count.
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