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Mortgage Fraud from All Angles
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February 16, 2009
A million-dollar fraud scheme in Alaska that involved all types of real estate professionals is taking some twists and turns as charges are dropped on one defendant and another changes his plea to not guilty.
Seven people and one mortgage company, Alaska State Mortgage have agreed to plead guilty to conspiracy and fraud charges in a $1.7 million mortgage fraud scheme. The fraudsters flipped dozens of homes at inflated values using fake information.
Those named in the scam include Lance Lockard, a real estate broker and investor; Holli Stroud, an escrow agent; Gary Paterna, a real estate investor and Lockard's father-in-law; Cerise Sanders, former loan officer at Alaska State Mortgage; Keith Facer, a real estate agent and investor; Jonathan Ruf, a builder and real estate investor; Alaska State Mortgage; and Charles Carson, a real estate appraiser who recently changed his plea from guilty to not guilty.
Charges were dropped against Susan McCready, the chief executive of Alaska State Mortgage.
Read story at Anchorage Daily News
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