Industry News

Football star’s former mansion involved in alleged real estate scam

Texas man arrested on fraud charges

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A Texas man wanted in connection with an alleged mortgage fraud scheme involving the mansion once owned by a well-known ex-Dallas Cowboy has been arrested, Dallas CBS 11 News reported Monday. Oltha Austin was arrested following a high-speed chase with the Irving, Texas, police, reports said. Police told CBS 11 they had been looking for Oltha Austin Jr. for some time. Austin has been on the run since last August, according to prosecutors, when he was indicted in a mortgage fraud scheme that allegedly got him a more than $2 million Plano, Texas, mansion. The mansion used to belong to former Dallas Cowboy Deion Sanders, according to reports. "I think Mr. Austin has some explaining to do on the charges he faces," Shamoil Shipchandler, assistant U.S. Attorney for Plano, told CBS 11. Austin was indicted in August 2005 on one count of mail fraud and one count of wire fraud. According to the indictment, Austin completed a mortgage application on behalf of his mother to purchase a property in...