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Wednesday, October 24, 2007

Floyd Irons' Alleged Co-Conspirator Expected to Plead Guilty

Posted By on Wed, Oct 24, 2007 at 5:10 PM

Michael Noll, once a close confidant of former Vashon basketball coach Floyd Irons, is expected to waive an indictment and enter a guilty plea before U.S. District Court Judge E. Richard Webber in federal court Thursday morning in connection with a million-dollar mortgage scam.

Noll is expected to plead guilty to the same counts of wire and mail fraud that Irons admitted to last month. Another co-defendant in the case, mortgage broker John Mineo Jr., also cooperated.

Noll was identified as "John Doe" in the court papers for Irons' case. According to those documents, Irons and "Doe" devised a scheme to purchase residential real estate at inflated prices. In order to make initial payments on the properties, Irons and "Doe" obtained loans by submitting false paperwork in Irons' name. With mortgage broker Mineo's assistance, an additional $120,000 was kicked back to Irons and "Doe." Soon after buying the homes, Irons and "Doe" put them up for sale. All the properties -- in Tower Grove East, DeMun and Wildwood -- were eventually foreclosed upon when Irons and "Doe" failed to make mortgage payments.

At the time of Irons' plea, the former coach said he did not receive any money from the scam. Noll did not return a phone call for comment at that time.

Irons, who faces up to 30 years in prison and a fine no more than $1 million, is scheduled to be sentenced November 29. It is unclear whether Noll will be sentenced on the same date.

-Kristen Hinman

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