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Politician Pleads Innocent
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February 25, 2009
A former mayoral candidate has pleaded not guilty to charges that he defrauded mortgage lenders and others purchase luxury vehicles and an airplane. He has also been accused of arson after fire destroyed the property in question.
Howard Gregory Cordell yesterday waived arraignment and entered his plea of not guilty before a federal judge in Rome, Georgia. He has been accused of inflating his income and assets, concealing his liabilities and convincing the owner to inflate the sales price in order to secure higher financing for a property that he then refinanced after purchasing.
Cordell obtained a $937,000 mortgage from Washington Mutual Bank to purchase the property in March 2003. In August 2004 he refinanced the same property with a $1,000,000 mortgage. The property was subsequently destroyed by arson, in which, Cordell is a suspect.
Pre-trial hearing is set for March 10.
Read story at Rome News-Tribune
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