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Loan Modification

: Mortgage Lender Implode-o-Meter

25 charged in $100 million mortgage fraud in NY

By Implode-Explode Heavy Industries

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"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."

Full post as published by Mortgage Lender Implode-o-Meter on July 08, 2009 (boomark / email).

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