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Fraud Prompts Task Force Creation
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February 3, 2009
A Pennsylvania man pleaded guilty to a multimillion-dollar mortgage fraud scheme that was responsible for motivating the local law enforcement to create a special task force.
Michael M. Pope, 44, of Pope Financial Services and Tiffany Sprouts of Sprouts Mortgage conspired to falsify mortgage documents. The pair used straw buyers, including Sprouts’ father, a Uniontown councilman, in the fraud scheme. They inflated borrower’s income and assets in order to help them qualify, costing banks and lenders between $1 million and $2.5 million in losses.
Pope’s sentencing hearing is set for May 7.
Read story at Pittsburgh Tribune
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