6 indicted in 15 million mortgage fraud scheme

Six people were indicted on Wednesday on federal charges alleging they participated in a $15 million mortgage fraud scheme that involved more than 40 residential properties in Chicago and the south suburbs. Their actions allegedly caused several financial institutions to lose approximately $4.5 million on mortgage loans that were not repaid by the borrowers or fully recovered through foreclosure sales, a release from the U.S. Attorney's office said.

Posted in: Account Takeover Identity Theft