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Accused of "Cut and Paste" Fraud
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May 7, 2009
The trial begins for a mortgage broker who is accused of cutting and pasting borrower signatures to documents in order to fraudulently secure mortgage loans.
Richard N. Garries, a former mortgage broker for Security First Funding Corp., was charged in May 2008 as part of the Operation Malicious Mortgage crackdown. Garries allegedly falsified income and assets and employment information to obtain approval for borrowers that otherwise would not qualify.
Garries's associate, Terrance K. Boothe, pleaded guilty last year to conspiracy to commit mail and wire fraud and is scheduled to be sentenced in June.
Read story at The Daily Press
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