Thursday, May 27, 2010
Pity we dont see charges brought on people in uk
Las Vegas Sun: Grand jury indicts 5 on mortgage fraud charges
The indictment alleges that from 2005 to April 2007, the defendants devised a mortgage fraud scheme that involved the use of straw buyers and the submission of false information to financial institutions in order to obtain mortgage loans. The defendants solicited persons to act as straw buyers to purchase real estate, and in some instances, the defendants had the straw buyers purchase multiple houses at or about the same time. The defendants caused to be submitted to the financial institutions mortgage loan applications containing fraudulent information about the straw buyers’ employment, income, assets, liabilities, rental history, value of the property, intent to occupy the homes, Social Security number, and source of earnest money deposits and costs.
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