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March 9, 2009
Two men involved in an alleged mortgage fraud flipping scheme have decided to change their not-guilty pleas to guilty.
Francis R. Conti, 42, and Keith A. Rice, 41, have filed notice that they intend to plead guilty in the case involving as many as 200 homes. Officials said victims collectively lost about $1 million in the scam.
A total of five people have been charged so far. Three have pleaded guilty and two others are currently serving federal prison sentences. The defendants were accused of purchasing run-down homes and re-selling them at artificially inflated prices.
Read story at The Erie Times
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