Industry News

Broker faces real estate fraud charges

Feds claim mortgage applications were falsified

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A Kansas business owner faces court charges on allegations of a bank fraud scheme that forced several low-income homeowners into bankruptcy. Harris Poulikidis, 56, of Overland Park, Kan., was indicted last week by a federal grand jury in Kansas City. He allegedly saddled victims with more debt than they could repay, causing several of them to lose their homes to foreclosure, according to a news release from U.S. Attorney Todd Graves. Poulikidis owned and operated a number of home improvement businesses, including U.S. Home Services, Roofing and Siding Plus and A+ Siding, which provided a variety of home repairs and remodeling. He also operated a number of mortgage companies, including Olympic Mortgage, C&T Enterprizes of Kansas and FP Holdings. According to the indictment, Poulikidis, through the mortgage companies he operated, allegedly arranged financing of home repairs and remodeling projects for clients of his home improvement businesses. Allegedly, he sometimes arranged not o...