Greenville, N.C. — A former UNC accounting technician and her husband are headed to federal prison for their roles in a mortgage scam, the U.S. Attorney's office says.
Isaac Lee Woods, 48, will spend seven years in prison. Regina Bailey Woods, 46, was sentenced to two years.
A year ago, a federal jury convicted Regina Woods and her husband of conspiracy and mortgage fraud while running a company that did business as Unlimited Financial Resources.
Prosecutors said the Durham couple stole more than $1 million in the scheme that arranged government guarantees for phony mortgages. As part of their sentences, they also must pay $1 million in restitution.
Despite the conviction, Regina Woods continued working at UNC-Chapel Hill as an accounting technician.
After WRAL asked questions about Woods' employment, Chancellor James Moeser ordered she be fired immediately.
Couple Draws Federal Prison Time for Mortgage Scam
Copyright 2009 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News Alerts to your Email & Cell Phone4 Comments
-
- Fireworks explosion ruled accidental; victims identified
Updated Jul. 5 11:32 p.m. |
- N.C. tax overhaul still alive in budget talks
Updated Jul. 5 7:39 p.m. - Man dies in Lillington house fire
Updated Jul. 5 7:42 p.m. | - Teacher's aide facing new charges
Updated Jul. 5 8:18 p.m. | - N.C. State student drowns in Jordan Lake
Updated Jul. 5 3:34 p.m.
- Fireworks explosion ruled accidental; victims identified
- Most Viewed Slideshows
- Ocracoke Island fireworks truck explosion
Updated Jul. 5 3:05 p.m. - Summer Fun 2009
Updated Jul. 5 10:50 a.m. - Your photos: Fourth of July celebrations
Updated Jul. 5 12:41 p.m.
- Ocracoke Island fireworks truck explosion
top-voted stories
(2 votes) teacher's aide facing new charges
-
Cityscapes of the TriangleTake a tour through the urban landscapes of the Triangle's cities and towns.
-
Michael Jackson (1958-2009)The life and death of Michael Jackson in video and photos.
-
A year of N.C. Drought MapsView a time lapse animation of drought conditions during the last year.
-
'Antiques Roadshow' in RaleighThe "Antiques Roadshow" taped Saturday, June 27, 2009, at the Raleigh Convention Center, where over 5,000 ticket holders lined up to learn what…
-
The week in entertainmentA look at the top entertainment stories this week through the lenses of Associated Press photographers.
advertisement
Welcome to GOLO, where WRAL.com visitors can comment on stories and create profile pages, blogs and photo galleries.
You must be a registered WRAL.com user to use these tools. Click here to register or log in.