Six indicted in latest loan fraud case
December 23, 2009
Total Loss:
$12.5 million
Adding to a growing roster of mortgage fraud charges in the Boston area, three real estate investors, two mortgage brokers, and a former lawyer were indicted in an alleged scheme involving $12.5 million in loans and at least 26 distressed properties, the state attorney general's office said yesterday. In indictments returned by a Suffolk County grand jury, the six defendants face multiple counts of larceny and other charges related to a scheme that prosecutors allege gained them about $2 million in profits. They say the group used false documents to defraud homeowners and more than a dozen lenders.
Source:
Boston Globe
Posted in:
Internal Fraud