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"Dream Homes" Program A Ponzi Scheme, Say Maryland Feds As Five Charged In Alleged Theft Of $70M+ From 1000+ People; One Def't Positioned To Cop Plea

By r morris

In Greenbelt, Maryland, The Washington Post reports:It was a mortgage fraud and a Ponzi scheme, and it was, prosecutors say, a moneymaker. In just a couple of years, the Dream Homes Program stole at least $70 million from more than 1,000 people, many of them in Prince George's County, by promising to pay off their mortgages in exchange for investments of at least $50,000, prosecutors said.After

Full post as published by The Home Equity Theft Reporter on April 28, 2009 (boomark / email).