Industry News

Inflated real estate appraisals at center of fraud ring

Five individuals charged in multimillion-dollar mortgage fraud scheme

Five individuals in Georgia and Pennsylvania were recently indicted on charges relating to a multimillion-dollar mortgage fraud scheme, according to the U.S. Attorney for the Northern District of Georgia. Nathan Parker, 48, a/k/a "Nathan Pasha," and his brother Danny Parker, 54, both of Philadelphia, and Carla Kinsey, 40, David Pinnix, 42, and London Bolden, 55, a/k/a "Larry Bolton," all of Atlanta, were indicted on charges of conspiracy, wire fraud, bank fraud and the use of false Social Security numbers. The indictment charges that from January 1999 until October 2001, Nathan Parker and his co-defendants, who were then based in Atlanta, defrauded financial institutions and other mortgage lenders by submitting false qualifying information and false documentation to obtain mortgage loans. Defendants allegedly used the U.S. Mail and various wire transfers as their means of relaying qualifying information and the proceeds of the mortgage fraud scheme. According to the indictment, t...

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