Former Bearcat, girlfriend sentenced to prison

CINCINNATI - Former University of Cincinnati basketball player and broadcaster Anthony Buford will spend the next several years behind bars.

Buford, 42, and his former girlfriend, Jolie Neal, 47, were each sentenced Thursday to 41 months in federal prison for mortgage fraud conspiracy. The pair was also ordered to pay $2,779,609 in restitution to lending institutions they defrauded.

Buford and Neal each pleaded guilty on June 8, 2011 to one count of conspiracy to commit mail, wire and bank fraud.

In their plea agreements, the two admitted defrauding Fifth Third Bank and Lehman Brothers Bank out of $2,779,500 by taking out loans on three Mason properties they owned. The two brokered and applied for loans nine times on the properties. Instead of using the money to pay off the existing mortgages, Buford and Neal used the money for personal expenses, according to court documents.

When the two met, Buford worked for Dynus Financial as a mortgage broker. Neal owned Tri-State Title Company. As part of the scheme, they would process loans for each other. Neal asked Buford to broker a loan for an additional mortgage on her house. She closed the loan herself and kept the money rather than paying off the existing mortgage. She and Buford conspired to repeat the scheme in order to defraud approximately nine lending institutions beginning from in or about September 2004 until in or about July 2007 for an approximate loss of $2,779,500, according to court documents.

“Buford and his co-conspirator Jolie Neal were insiders in the mortgage business and therefore, were able to manipulate the system to their benefit,” Assistant U.S. Attorney Jennifer Barry wrote in a sentencing memorandum filed with the court.

Buford helped lead the Bearcats to the Final Four in 1992 and played professional basketball from 1993-1996. He also worked as an analyst for Fox Sports Ohio.