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February 23, 2009
A St. Louis man pleaded guilty to making a false statement to a lender in order to secure mortgage financing without having to make a down payment.
Keith Pittman, 53, was indicted last June as part of the "Operation Malicious Mortgage." He was one of more than 400 people charged in the nationwide crackdown on mortgage fraud.
Pittman faces up to 30 years in prison and a fine of up to $1 million. Sentencing is set for June 5.
Read story at BizJournals
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