Under a deal with prosecutors, Monique Brady, owner of MNB LLC, pleaded guilty in Providence federal court to one count each of wire fraud, aggravated identity theft and obstructing an IRS investigation.
According to prosecutors, she promised her investors they would share in the profits from the sales of foreclosed homes she claimed to be renovating under agreements with lenders like Freddie Mac. Assistant U.S. Attorney Lee H. Vilker told the court that Brady scammed a total of 22 investors out $4.7 million.
