Two plead guilty in mortgage fraud case

Two more have pleaded guilty to fraud charges in a $3 million mortgage fraud case, federal prosecutors said today. Bora Ly, 27, of Raytown, and Deborah Saulmon, 50, of Olathe, each pleaded guilty in federal court in Kansas to one count of conspiracy to commit bank fraud, money laundering and wire fraud. Beginning in 2006, they admitted, they conspired with Eric Rabicoff and others to defraud federally insured mortgage lenders, prosecutors said. In part, prosecutors said, they arranged for straw buyers to buy homes and used false mortgage applications to lenders to get money for the deals. Posted in: Internal Fraud