Industry NewsMortgage

24 indicted in mortgage fraud ring

Real estate broker, agent, appraiser among those charged
Published on Apr 9, 2009

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by CareyBot

Federal prosecutors have indicted 24 people in an alleged mortgage fraud scheme based in San Diego involving 220 properties and more than $100 million in mortgage loans.

The indictment charges that the leader of the mortgage fraud ring, alleged gang member Darnell Bell, reaped at least $9 million in proceeds.

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