| |
|
|
|
|
Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
|
|
| |
Mobile Homes, Vacant Land Used in Fraud
|
| |
December 15, 2008
A North Carolina man set up a fraud scheme by purchasing vacant land, dividing it into four parcels and placing mobile homes on the lots. Five people have been charged for participating in the $6 million scheme that involved more than 100 loans.
Over a six-year period Daniel Adam Rooks, 31; his father, Alford Eugene Rooks, 63; Stanley Garfield Williams, Jr., 37; Henry Clay Blake, Jr., 69; and Cynthia Tilley Greer, 50, defrauded homebuyers, banks and other lenders.
The group sold to low-income buyers or straw buyers the properties and once they went into foreclosure would buy them and sell them again. Each defendant is charged with conspiring to commit wire fraud and mail fraud and conspiring to money launder. They face a maximum of up to 30 years imprisonment and a fine of up to $1 million or both, followed by supervised release of up to five years.
Read story at The Fayetteville Observer
|
|
|
