Broken Arrow Businessman Pleads Guilty To Fraud Charges

NewsOn6.com

MUSKOGEE, OK -- A Broken Arrow businessman has pled guilty in federal court to five counts of wire fraud. 

The charges against 68-year-old Gerald Snow Sr. arose from an investigation by the FBI. 

A federal grand jury indictment earlier this month alleged Gerald Snow and his son, Jerry Snow, built and sold homes in a Wagoner County subdivision. 

The indictment stated Snow conspired to defraud mortgage lenders to loan money on homes sold by the Snows. 

This plea follows pleas by Ayo Olaniyan, 33, of Tulsa, and 38-year-old Gaile Cates of Coweta, entered earlier this month in federal court in Muskogee.

2/9/2010 Related story: Two Oklahoma Mortgage Brokers Plead Guilty To Fraud