A Georgia real estate lawyer was arrested Monday in connection with an alleged $7 million mortgage fraud scheme, media accounts said.

Athens, Ga., attorney C. Michael Rose denied any wrongdoing after being booked into Clarke County Jail late Monday night on a racketeering charge, reports said.

“(Athens-Clarke and state fraud investigators) have a job to do. I’m sure the truth will all come out,” Rose said, according to media reports.

Rose, 45, is the former law partner of Athens-Clarke Solicitor General Mo Wiltshire, according to reports. Wiltshire said Tuesday he doubted that Rose had committed any crimes, reports said.

“I’m shocked and surprised. I can’t imagine that Mike Rose would intentionally do anything criminal. I wish the best for him and his family,” Wiltshire told Athens Online.

Police investigators accuse Rose and about two dozen other people of using phony appraisals and loan applications to systematically and fraudulently pump up property values in Milford Hills, a local subdivision, reports said.

Rose was the 10th person arrested in connection with the fraud, according to reports.

More than a dozen others, mostly people who live in or near Atlanta, have been named in the investigation, but have not yet turned themselves in or been taken into custody, Athens Online said.

The alleged participants, including Rose, are said to have “conspired and endeavored to engage in racketeering” under the state’s Racketeering Influenced and Corrupt Organizations Act, according to the arrest warrant for Rose, reports said.

Show Comments Hide Comments

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.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Prepare for this fall with top agents & brokers at Connect Now this Tuesday.GET YOUR TICKET×
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