| |
|
|
|
|
Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
|
|
| |
Mortgage Company President Sentenced
|
| |
March 3, 2009
Distressed properties in Indianapolis, bought at low prices and sold with inflated values, set the stage for a $1 million mortgage fraud scheme that duped investors and lenders alike.
Frederic I. Bowles, 45, was sentenced to 27 months in prison after pleading guilty to wire fraud and money laundering. Bowles bought and sold 18 properties with more than $1.14 million in loans he fraudulently obtained. Prosecutors said he made an estimated $800,000 from the scheme.
Three years supervised release after prison was tacked onto Bowles sentence and he was also ordered to pay almost $167,000 in restitution.
Read story at Indy Star
|
|
|
