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Guilty Plea in $11 Million Fraud
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December 23, 2008
A California man pleaded guilty to defrauding mortgage lenders by helping unqualified borrowers obtain loans.
Derek Davis, a.k.a Terry McCullough, was indicted with Dino Rosetti for a mortgage fraud scheme involving more than $11 million of homes purchased in 2005 and 2006 in the Sacramento area.
Davis pleaded guilty and awaits sentencing on Feb. 27. Charges are still pending against Rosetti.
Read story at The Sacramento Bee
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