Seven defendants indicted in $49.6M mortgage fraud scam

 · Washington Trio Charged With Mortgage Fraud. Jeanette R. Salsi, Alice Lorraine Barneyand and Sonja Lightfoot, each of whom played important roles in a mortgage fraud scheme that crippled now defunct Pierce Commercial Bank were sentenced in U.S. District Court in Tacoma, Wash. All three of the women worked for years with scheme leader shawn portmann,

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A mortgage scam that resulted in the origination of $49.6 million in fraudulent loans led to the indictment of seven defendants in North Carolina.

Seven people accused of being involved in a massive real estate fraud scheme that bilked victims – including some in Tucson – out of $140 million were charged Thursday with numerous felonies in.

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All seven defendants were charged with one or more counts of mail fraud and/or wire fraud in a 12-count indictment that was returned by a federal grand jury. The indictment also seeks forfeiture of at least $8.5 million.

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Five Defendants Indicted in Alleged $15.7 Million Mortgage Fraud Scheme to Help Finance Failed North Shore Development. The arrests and charges were announced today by Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois; Thomas A. Kelly, Special Agent in Charge of the U.S. Secret Service in Chicago; and Robert D. Grant, Special Agent in Charge of the Chicago Office of the Federal Bureau of Investigation.

 · The charges of loan fraud and attempted identity theft, felonies with sentences of four to 15 years, and attempted theft, with a potential sentence of four to seven years, were added for both men.

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A federal indictment unsealed Friday charged seven people with running a multistate Ponzi scheme and related mortgage fraud scams that prosecutors said cost investors and lenders a combined $17.

SACRAMENTO – A federal indictment unsealed Friday charged seven people with running a multistate Ponzi scheme and related mortgage fraud scams that prosecutors said. Loomis and five other.

Seven Tucsonans are facing charges they siphoned $2.9 million dollars from residential loans through a mortgage-fraud scheme. Three of the seven were arrested Friday, the U.S. attorney’s office.