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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (123591)	5/16/2008 6:58:51 PM
From: Jim McMannis	Respond to of 306849

11 indicted in Mass. mortgage fraud scheme boston.com BOSTON—Eleven people have been indicted in a mortgage fraud scheme that netted at least $1.7 million in profits, federal authorities said Friday. The suspects include the manager of a real estate firm, mortgage brokers and two attorneys, Eric Levine, 55, of Brookline, whose license to practice law had been suspended by the Supreme Judicial Court in 2003 and 2004, and J. Daniel Lindley, 59, a practicing attorney from Boston. They face various charges, including conspiracy, wire fraud, money laundering and identity theft. The participants allegedly submitted false information on mortgage loan applications from May 2005 to December 2006 and obtained $10.6 million in fraudulent mortgage loans. The indictment claims they made at least $1.7 million through the scheme.