Raymond Foakes, former president of the Hells Angels Chapter 48 in Sonoma, Calif., was sentenced to 70 months in prison and ordered to pay $1,085,000 in restitution for his role in a multimillion-dollar mortgage fraud scheme.
According to the Federal Bureau of Investigation, Foakes pleaded guilty on Oct. 25, 2011, to wire fraud, money laundering and conspiracy to commit bank and wire fraud. According to the plea agreement, Foakes admitted that from 2006 until early 2007, he was involved in a scheme to fraudulently obtain mortgage loans for parcels of property located in Northern California, including for a property located in Santa Rosa, Calif.
As part of this conspiracy, Foakes submitted a series of false statements on mortgage loan applications and altered bank statements. Rather than occupy the property as a primary residence, as he stated on his applications, he allowed it to be used as a marijuana grow house.
The sentence was handed down by U.S. District Court Judge William Alsup. Judge Alsup also sentenced the defendant to a three-year period of supervised release, during which time he will face an expanded search condition and his ability to associate with other members of the Hells Angels Motorcycle Club will be limited. The defendant will begin serving the sentence immediately, having been in continuous federal custody since his arrest.
(Photo courtesy of the Federal Bureau of Investigation)