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Loan Officer and Title Agent Conspired
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January 19, 2009
A St. Paul, Minn. loan officer worked with a title agent to steal the proceeds of $4 million in mortgage loans.
Daniel Michael Doocy pleaded guilty to conspiring to file false loan applications and participating in about 10 fraudulent real estate transactions using straw buyers. Doocy said funds were then diverted to a title company and a closing agent helped Doocy receive the funds.
Doocy faces up to 30 years in prison for both wire fraud and money laundering.
Read story at The Star Tribune
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