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Fraud Volume Nears Billions
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January 30, 2009
National and local law enforcement continue to ponder whether earlier intervention may have averted the current mortgage fraud and credit crisis. Fraud volume is now estimated to be in the billions, affecting individuals from all walks of life.
Reports of an emerging mortgage fraud epidemic began as early as 2004, however, with limited resources the FBI could only do so much to slow its pace. Lawrence J. Laurenzi, acting U.S. Attorney for the Western District of Tennessee said his office has recently formed a mortgage fraud task force to help combat local fraud.
The task force is being staffed both by the Memphis Police Department, the Shelby County Sheriff’s Office and the FBI.
Read story at Tri-State Defender Online
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