1. 41 Charged With Widespread Mortgage Fraud.
- Author
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Moynihan, Colin
- Subjects
- *
MORTGAGE banks , *CORRUPTION , *REAL obligations , *COLLATERAL security , *BANK fraud - Abstract
Federal prosecutors announced charges on Thursday against 41 lenders, lawyers and others in the real estate industry who they said used fraud to obtain more than $64 million in loans connected to more than 100 residential properties in New York State. An investigation involving the F.B.I., the Secret Service, the New York State Banking Department and other agencies led to the wire fraud, bank fraud and conspiracy charges against the lawyers, mortgage brokers and loan officers, who engaged in complex plots that operated over a period of years, said Preet Bharara, the United States attorney for the Southern District of New York. [ABSTRACT FROM PUBLISHER]
- Published
- 2009