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by CareyBot

A former southern California mortgage broker sentenced this week to prison for a mortgage fraud scheme that ended in 2001 continued to work in the mortgage lending business after his license was revoked, prosecutors said. Kenneth C. Ketner, 58, was sentenced Monday to four years, 9 months in prison and ordered to repay $9.27 million his former company, Mortgage Capital Resource, fraudulently obtained from banks, the Orange County Register reported. Mortgage Capital, which offered second mortgages for debt consolidation, had a $20 million line of credit from an Illinois bank, Household Commercial Finance, the Register reported. Ketner settled a 2001 civil suit by the bank for $5 million, and the California Department of Real Estate revoked Mortgage Capital Resource's license in when it was...