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January 15, 2009
A married couple who allegedly acted as buyers in several fraudulent mortgage transactions pleaded not guilty in court. Prosecutors said the loan applications included fraudulent income information, intent to occupy and the appraised value was artificially inflated.
Frank and Maureen Blake are accused of helping two mortgage brokers with about a half-dozen fraudulent home purchases on homes with inflated values. The mortgage brokers, Thomas Ryder and brother, Paul Ryder operate M & M Mortgage. All four have pleaded not guilty to defrauding lenders, including Countrywide Home Loans.
The Blakes were released on bail and scheduled to go on trial March 17.
Read story at The Eagle Tribune
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