Gang Member Ran $100M Mortgage Scheme
April 7, 2009
Total Loss:
$100 Million
Dozens of people -- including a documented gang member -- were involved in a sophisticated mortgage fraud scheme involving 220 local properties, according to federal prosecutors.
U.S. Attorney Karen Hewitt's office said 24 people would be prosecuted in a RICO conspiracy in connection with the case. Prosecutors are alleging the Darnell Bell, a 38-year-old documented member of the Lincoln Park street gang, ran the scam, pocketing at least $9 million in criminal proceeds in a conspiracy that eventually netted more than $100 million.
Source:
NBC San Diego
Posted in:
Internal Fraud