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Arrest Made in Straw Buying Scheme
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April 23, 2009
A 37-year-old man was arrested yesterday for his alleged participation in a straw-buying mortgage fraud scheme that defrauded banks of almost $2 million.
Patrick Parker of Williamstown, N. J., has been charged with mail fraud, bank fraud, money laundering and interstate transportation of stolen property. Officials said Parker obtained fraudulent mortgage loans for straw buyers and then diverted the funds for his personal use.
Read story at Courier Post Online
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