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Scam Left Foster Kids Homeless
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November 26, 2008
A mortgage fraud scheme that led investors to believe they were purchasing rental properties collapsed and left a foster family without a home, sending the foster children back to the state.
Don Jones, Affordable Homes and seven others involved were named in a 49-page indictment. Jones pleaded guilty and was sentenced to 51 months in federal prison, and ordered to pay $2.7 million in restitution. A loan officer, Bob Patterson has also pleaded guilty, was sentenced to almost four years in prison and ordered to pay $2.7 million in restitution.
Jones’ son Matt and business partner Joseph Jackson have both pleaded guilty and are awaiting sentencing on Jan. 5.
Read story at My Fox Dallas-Fort Worth
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