Industry News

Georgia attorney pleads guilty in real estate fraud scheme

Faces up to three years in prison

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  A Georgia attorney has pleaded guilty in U.S. District federal court to charges related to a mortgage fraud scheme.   Swain Alvin Lewis, an attorney in Dublin, Ga., entered a guilty plea to a charge of misprision (concealment) of a felony in connection with a scheme to defraud a mortgage lender, according to the U.S. Attorney's Office in Savannah.   Lewis pled to a charge that, from August 2003 to September 2003, he knowingly concealed a scheme by a mortgage broker and others to defraud a mortgage lender, the U.S. Attorney's Office said in a statement. Those involved in the scheme falsely represented that the people applying for loans with the lender were seeking to refinance rather than obtain original purchase loans.   By characterizing the loans this way, the U.S. Attorney's Office said, the mortgage broker and others involved in the scheme were able to conceal the actual purchase price of the properties and persuade the lender that the properties were more v...