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Commercial Property Sham: More Details
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March 5, 2009
One of the alleged leaders in the commercial property fraud scheme has been busy building a reputation for mortgage fraud in another high-profile case out of New York.
Sharmon Wade a/k/a Sharmon Howell was also involved and is currently on trial for a mortgage fraud scheme that involved recruiting ex-convicts and halfway house residents as straw buyers in a $10 million mortgage fraud scheme.
Wade was reportedly running a company called Covenant Equity Group where he allegedly solicited numerous investors with promises to nearly double their investments within two months. Currently, he has been charged in with two different schemes, both surrounding real estate finance.
Read story The New York Times
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