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: The Home Equity Theft Reporter

S. California Duo To Get Hard Time In Mortgage Scam That Duped Homeowners Into Investing Proceeds From 'Cash-Out' Refinancings In Bogus R/E Program

By r morris

In Southern California, The Press Enterprise reports:The accused ringleader of a $142 million mortgage and securites fraud centered in Southwest Riverside County agreed Monday to spend nearly 20 years in state prison rather than go to trial. James B. Duncan, who prosecutors say masterminded the scheme, and Maurice McLeod, his alleged second in command, both agreed in court to negotiated guilty

Full post as published by The Home Equity Theft Reporter on January 27, 2011 (boomark / email).