Douglasville Woman, Former Husband Sentenced Today for Tax Evasion

Tracie Wells, formerly known as Tracie Williams, 46, was sentenced today to 6 months of home confinement and an additional 2 years, 6 months of probation. Wells' once husband Rodney Wells, 44, of Atlanta, was sentenced to federal prison on charges of mortgage fraud and tax evasion.

Rodney Wells was sentenced to 2 years, 9 months in prison to be followed by 3 years of supervised release and 40 hours of community service. Both were sentenced by U.S. District Judge Jule E. Carnes today after pleading guilty to the charges on Dec. 17, 2009.

"This mortgage broker represents part of the reason why the housing market is broken-fraud," U.S. Attorney Sally Quillian Yates said in a press release. "Various fraud schemes have cheated legitimate homeowners out of their very own homes, and in many cases the criminals gutted whatever is left.

"This defendant cheated and lied to mortgage lenders by inflating the value of home and making false statements in mortgage applications so he could pull money out of the homes to enrich himself. Whether it be individuals or large institutions, the housing market is not a neighborhood for criminals."

According to Yates, Rodney and Tracie Wells conspired to avoid paying income taxes on the monies earned through a mortgage fraud scheme. Using the mortgage companies Manhattan Group Mortgage and Superior Funding Group, as well as the shell construction company, Tenacity Construction, the couple generated substantial income between 2002 and 2004. Profits from the businesses were funneled to Tracie Wells who used the monies to purchase numerous personal assets, including a new home and luxury vehicles, purchased in her name only.