Federal prosecutors in Sacramento said 40-year-old Charles Head of Pittsburgh and 17 other defendants obtained more than $90 million in fraudulent loans and caused more than $50 million in losses between January 2004 and June 2006.
Head and his brother, Jeremy Michael Head, 34, of Huntington Beach, were convicted in May 2013 of mail fraud and other charges. Charles Head was convicted of additional mail fraud charges in a second trial in December.
Jeremy Head is awaiting sentencing. Their attorneys did not immediately return telephone messages after Wednesday’s sentencing.