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by CareyBot

A South Florida pair was arrested and charged Tuesday on an 18-count real estate loan and bankruptcy fraud indictment, officials said. Edward Garnett, 62, and Shirley Akey, 69, both of Fort Lauderdale, were each charged with conspiracy, loan application fraud, mail fraud, wire fraud and money laundering, according to the U.S. Attorney's office. Garnett was also charged with bankruptcy fraud. According to the indictment, Garnett fraudulently obtained 12 mortgage loans totaling almost $6 million, using luxury properties in which he lived as collateral. To obtain the mortgage loans, Garnett submitted loan applications containing false financial information in both his name and in the names of certain nominees. The false financial information included overstated income, overvalued assets, ...