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March 10, 2009
One state said it has hit an 11-year high for mortgage fraud prosecutions in 2008. In 2006, the Federal Trade Commission ranked it No. 1 in per capita fraud complaints.
The U.S. Attorney for Utah recently added white-collar crime prosecutors to combat the swell of mortgage fraud in the state. State and federal officials formed a mortgage-fraud task force, and the U.S. Securities and Exchange Commission keeps an office in Salt Lake City.
Officials said they are investigating mortgage fraud cases with losses exceeding $150 million in Utah County alone.
Read story at ABC News 4
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