92 Texans charged in 3-month financial crime sweep - Mortgage fraud

[NNN0LHI]

http://www.businessweek.com/ap/financialnews/D9GDMPQG0.htm

The Associated Press June 18, 2010, 8:56AM ET

Federal prosecutors said Thursday that 92 people in Texas have been charged as part of a nationwide effort over the last three months to fight mortgage fraud and other financial crimes.

The Justice Department said investigators have made nearly 500 arrests nationwide since March. snip

In one case in Houston typical of straw purchases, prosecutors say 12 defendants used stolen Social Security numbers to get loans and buy homes at inflated values. Those loans were allowed to default, while the profits were diverted to a company owned by one Craig Curtis, who has been sentenced to 12 years in prison for his role in the scheme, according to court documents.

[SpiralHawk]

1. Republicon Family Values

as usual.

[Angry Dragon]

2. It says nothing about republicans

But I do hear you.

I do not think greed has any party lines.
I wish it would have said that they were all major leaders in the republican party

[SpiralHawk]

4. It didn't have to say anything about Republicons

for people to recognize that this is typical of the values they routinely act upon, all the while pretending to a smug moral superiority. That is why the Republicons are recognized as THE Latter Day Pharisees.

[xchrom]

3. I look forward to seeing much more of this. Nt

[ljm2002]

5. Here you go:

Real estate agents among 123 accused in mortgage fraud probe

A nationwide sweep that targeted mortgage fraud across the country has resulted in 123 people in Southern Nevada being charged, convicted or sentenced in connection with the probe.

The announcement was made Thursday at the Lloyd D. George federal courthouse in downtown Las Vegas. The investigation was dubbed Operation Stolen Dreams.

Authorities said the defendants allegedly engaged in hundreds of “straw buyer” transactions involving hundreds of Las Vegas area properties with a total loss of more than $246 million.

Officials said 73 of the 123 suspects in the case worked in the local real estate industry, including 30 loan officers, 24 real estate agents, six loan processors, five settlement agents, four mortgage brokers, two appraisers and one builder. Charges against 72 of the 123 suspects were filed this week, U.S. Attorney's Office spokeswoman Natalie Collins said.

(...)

http://www.lasvegassun.com/news/2010/jun/17/realtors-loan-officers-among-123-accused-mortgage-/