Authorities are investigating what is believed to be the first case of mortgage fraud in Dawson County, Ga., the Gainesville, Ga., Times reported.

Imran Siddiqui was arrested March 28 while attempting to close on a loan involving a Dawson County home, reports said.

Siddiqui is being held in the Dawson County Detention Center on one count of residential mortgage fraud, Sgt. Tony Wooten of the Dawson County Sheriff’s Office told the Times.

Georgia’s new Residential Mortgage Fraud Act makes it possible for alleged fraudsters to be charged with mortgage fraud, which was not previously the case. The Act, aimed at curbing mortgage fraud, was signed into law May 5, 2005 by Georgia Gov. Sonny Perdue. It defines the criminal offense of residential mortgage fraud.

Anyone convicted of engaging in residential mortgage fraud with one property faces one to 10 years in prison and up to a $1,000 fine. Offenders convicted of mortgage flipping two or more properties could receive a sentence from three to 20 years in prison and up to a $100,000 fine for each property.

Wooten said the state Attorney General’s Office and Atlanta police also were involved in the incident, according to reports.

“The combined work of these organizations led to this arrest, and it could possibly involve other similar actions,” Wooten told the Times.

Authorities said they knew in advance about the possible fraud, which involves at least one confirmed case of identity theft, reports said.

“The evidence uncovered so far indicates that at least one identity was stolen and was used to fraudulently obtain a loan,” Wooten said, according to reports.

Reports said the person who took the identity might have arranged a series of documents subsequently used as a basis for obtaining the mortgage. Authorities also believe the case may involve other people.

“According to the information so far, a mortgage company in Atlanta began to suspect that something was wrong, and they contacted the state Attorney General’s Office, who then contacted the local law enforcement authorities in each county involved,” Wooten told the Times.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 140.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Don’t miss out! Inman Connect Las Vegas is this week and you can catch all the excitement with a virtual ticket.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription