2009-04-08prnewswire.com

U.S. Attorney Karen P. Hewitt announced today the unsealing of an indictment charging 24 individuals with conspiracy to conduct enterprise affairs through a pattern of racketeering activity under the Racketeer Influenced and Corrupt Organizations Act (RICO). Specifically, the defendants are charged with using a corrupt enterprise to conduct a pattern of racketeering activity, namely, wire fraud, bank fraud, and money laundering. The charged racketeering activity all stems from an extensive mortgage fraud scheme based in San Diego, that involved 220 properties with a total sales price of more than $100 million dollars.


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Comments:

SteveP at 16:43 2009-04-08 said:
Anybody know if these fraud loans submitted to the funding lenders by a broker or did these fraudsters submit their fraud loans directly to lenders? Permalink

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