Two Plead Guilty to Mortgage Fraud
August 29, 2009
Total Loss:
$3 million
A Missouri man and an Iowa woman have pleaded guilty to a scheme to defraud mortgage lenders for $3 million. The U.S. Attorney's Office in Kansas said Thursday that 31-year-old Anthony E. Carollo of Raytown, Mo., and 25-year-old Rebecca Gelwix of Des Moines each pleaded guilty to one count of conspiracy to commit bank fraud, money laundering and wire fraud. They admitted participating in a scheme where straw buyers would seek to buy homes that were for sale by owners and then obtain financing through falsified loan applications.
Source:
Chicago Tribune
Posted in:
Internal Fraud