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WAMU Loses to Straw Buyer
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December 22, 2008
A straw buyer, with the help of others, rapidly bought 20 properties in Pennsylvania with false information on her loan applications, bilking $400,000 from Washington Mutual and other lenders.
Nancy Barlet, 51, pleaded guilty to mail fraud, admitting she knew what she did was wrong. Barlet bought the 20 properties in a matter of just six months. She faces up to 30 years in prison and $1 million in fines.
Read story at The Scranton Times Tribune
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