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Change of Heart: More Details
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March 10, 2009
One of the men who decided to admit his guilt in a multimillion-dollar mortgage fraud scheme allegedly doctored bank statements to make it appear that applicants had thousands in the bank when truthfully they only had about $2.
Keith A. Rice and Francis R. Conti worked together at Regal Financial Services, a/k/a Easy Mortgage, where prosecutors said most of the fraud took place. Rice pleaded guilty to conspiracy to commit mail fraud, wire fraud and bank fraud.
Five people have been charged. Rice faces up to five years in prison and a $250,000 fine.
Read story at The Erie Times
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