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Real estate agent, loan officer get jail sentence

San Diego real estate agent Eric Elegado and his loan officer wife Charmagne were each sentenced to three years and five months in prison on Thursday because of their role in a mortgage fraud scheme that resulted in more than $10 million in bank losses and led to dozens of foreclosures.

The couple, which pleaded guilty last October to conspiring to commit wire fraud, had a relatively high profile locally because of their billboard and bus bench advertising as well as seminars that touted real estate as a key to getting rich quick.

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