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Habitual Con Man Pleads Guilty
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March 3, 2009
A 40-year-old man pleaded guilty to three counts of engaging in a pattern of corrupt activity and five counts of money laundering in connection to a multimillion-dollar mortgage flipping scheme that involved several Ohio properties.
Scott McCann, 45, a former Realtor who had his license revoked, was indicted February 2008 with Gihan Zalat, 41. Zalat is scheduled to go to trial March 17 where McCann will be a witness for the prosecution.
The pair and others found straw buyers to apply for loans to cover home improvements and then laundered the proceeds. All the properties fell into foreclosure.
McCann is to be sentenced April 17.
Read story at BizJournals
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