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Charges Dropped in Multimillion-Dollar Fraud
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April 23, 2009
Ignorance really is bliss in the case of a man who said he didn't know he was participating in a mortgage fraud scheme. Charges were dropped after his attorney proved to the jury that he had no idea what he was pitching to investors involved fraud.
Eric Whiteside, 43, was fully vindicated of all charges relating to an alleged $15 million mortgage fraud scheme. Whiteside was initially indicted with 10 others charged with participating in a three-year scam that involved multiple properties in Brooklyn, Queens and the Bronx.
Buyers were allegedly told that rental income on the properties would surpass the mortgage payment so that they would never have to make the payments or take possession of the property. The jury, which deliberated for 30 hours, cleared Whiteside and another defendant, Mark Matthews, but convicted three others: David Burks, Venecia Dasilva and David Cho. Six others have pleaded guilty and await sentencing.
Read story at LOHud.com
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