THREE ATTORNEYS, TWO REAL ESTATE BROKERS, AND FIVE OTHERS INDICTED IN $10 MILLION MORTGAGE FRAUD SCHEME
Earlier today at the federal courthouse in Brooklyn, New York, an indictment was unsealed charging ten defendants, including three attorneys and two licensed real estate brokers, with conspiracy, bank fraud, and wire fraud arising out of their mortgage fraud scheme. The indictment alleges that the defendants fraudulently obtained over $10 million in loans from American Home Mortgage, Fremont Bank, BNC Mortgage (a subsidiary of Lehman Brothers), and WMC Mortgage (a subsidiary of GE Money Bank). The indictment was announced by Benton J. Campbell, United States Attorney for the Eastern District of New York, Joseph M. Demarest, Jr., Assistant Director-in-Charge of the Federal Bureau of Investigation, New York Field Office, and Jon T. Rymer, Inspector General, Federal Deposit Insurance Corporation. The defendants’ initial appearances and arraignments are scheduled later today before United States Magistrate Judge Roanne L. Mann, at the U. S. Courthouse, 225 Cadman Plaza East, Brooklyn, Ne...