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Broker Could Face 180 Years Imprisonment
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January 9, 2009
A Georgia man is accused of fraudulently issuing “seller’s second mortgages” to convince lenders to approve loans. He is also charged with making it appear that borrowers more assets than they truthfully did.
Walter Edward Stuckey, Jr., 52, has been charged with nine counts of mail fraud and one count of wire fraud. Stuckey who managed All-Star Lending in Augusta, Ga. allegedly devised a scheme to defraud lenders by manipulating loan application data in order to get applicants qualified.
If convicted, Stuckey faces up to 20 years imprisonment on each count, a $250,000 fine and three years supervised release.
Read story at WRDW News
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