A Philadelphia real estate agent has pleaded guilty to one count of wire fraud and one count of making an illegal monetary transaction, in connection with a fraudulent loan scheme.
Jonathan Barach was a licensed residential real estate agent who served as co-founder and principal agent for The Barach Group LLC and TBG Real Estate LLC, both based in Philadelphia.
Between July 2017 and April 2021, Barach raised over $3 million from lenders through a series of material misrepresentations, including by falsely stating the raised funds would be used to provide bridge loans to builders and contractors looking to purchase and flip distressed real estate properties or to complete renovation projects. However, Barach never had any projects that required funding and planned to use the lenders’ funds to cover personal expenses.
Although Barach paid back some of his earlier lenders with a portion of the funding secured from later lenders, over $1.4 million of the fraudulently obtained loan proceeds remain unpaid.
Barach is scheduled to be sentenced on Feb. 2, 2026, and faces a maximum possible term of 30 years’ imprisonment. His case was investigated by the FDIC Office of Inspector General, IRS Criminal Investigation, and the FBI, with assistance from the US Secret Service.
I know what he did was wrong, but 30 years??? I think that kind of term should be reserved for hardened criminals who are violent in every respect.
If this is a federal prison time, there is no parole allowed. Sad in so many ways.
Agreed the excessive time given non violent crime is oppressive nationwide and is not justice but a corrupt legal system.
The penalty for mortgage fraud is one million dollars plus 30 years in prison.
Okay 30 years is a lot however, he knew the rule of law. He is licensed and has an obligation to be trustworthy. Agents like him give honest agents a bad name and diminishes the trust that the public has for our industry. Lock his butt up!!!
We’ll see if Leticia James gets 30 years….
When will they learn? These cases are all too similar.
Sad that a person who held themselves out to the public as a fiduciary trust worthy person has scammed Lenders and caused major fraud, as well as economic hardship. Sorry but the penalties must be large enough to stop these types of scams.
Manslaughter is only 11 years
Clearly one of these hot shot lenders know people in the right places. We sent written complaint to many of the same gov. organizations and we do not even get a reply.
Latitia James ought to be going to prison for the same then, hadn’t she? Wow, I’ve seen murderers and rapists that get less time.
He has not been sentenced yet
Latitia James is being framed by Grandpa Trmp.
Lt is guilty as sin but even that liar does not deserve 30 years
O One thing to keep in mind is that when someone is caught doing something like this, it’s not the first time they’ve done it… It’s just the first time they’ve been caught. I have run across this gentleman‘s name before. He is not a trustworthy person… Sure when he is sentenced it will not be 30 years… That’s just the maximum sentence… Hopefully the judge delivers in appropriate sentence…