25 charged in $100 million mortgage fraud
July 9, 2009
Total Loss:
$100 Million
The Manhattan district attorney indicted 13 suspects and a mortgage company on Wednesday for running a $100 million mortgage fraud, in which they allegedly fooled banks into financing sham sales. District Attorney Robert Morgenthau said that 25 people were involved in the scheme including 12 who have already pleaded guilty.
Source:
CNN Money
Posted in:
Internal Fraud