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Everyone is Innocent (Until Proven Guilty)
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February 25, 2009
A 35-year-old Pennsylvania man, who has reported ties to a prominent Pittsburgh developer whose actions are under scrutiny, has pleaded not guilty to participating in a mortgage fraud scheme.
Michael Dokmanovich, 35, has been accused of inflating sales prices, appraisal values and income data on loan applications in conjunction with Bernardo Katz. Katz is a native Brazilian who fled to Brazil after a federal investigation began of his receiving nearly $700,000 in mortgages and loans from the Urban Redevelopment Authority.
Another alleged conspirator, Daniel Smithblower, agreed to cooperate with investigators after pleading guilty earlier this month.
Four others pleaded innocent before the same judge in separate mortgage fraud cases. They include: Robert Jones, 53; Kenneth Fox, 42; each charged with one count of wire fraud conspiracy and money laundering conspiracy; Constantino Papastergou, 37; charged with one count of wire fraud conspiracy; and Lacy Tilley, 44, who faces five counts of wire fraud.
Read story at Pittsburgh Tribune
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