Former Virginia Beach attorney Stephen Gunther has been sentenced to 20 months in prison and ordered to pay $231,000 in restitution after pleading guilty to fraud in connection with a series of real estate closings, according to a release from the U.S. Attorney’s Office.
Gunther, 40, a resident of Hertford, N.C., allegedly used straw purchasers in four real estate loan transactions to defraud lenders. Gunther pleaded guilty and consented to revocation of his Virginia law license in March.
Gunther was sentenced by U.S. District Judge Raymond Jackson.
UPDATE: Gunther may have been spared additional time by his acts of contrition after he was caught, according to The Virginian-Pilot. They include his mea culpa posted on his website and a series of seminars he taught on how to avoid real estate fraud schemes.
By Peter Vieth