Wednesday, August 26, 2009

Ohio State AG Takes on Mortgage Fraud

A press release of Ohio Attorney General Richard Cordray "announced details of an 18-month investigation that led to indictments against 41 people and four companies."  The release states that "[t]he defendants are alleged to have engaged in real estate transactions to purchase 453 homes with fraudulent loans totaling $44 million."  Although the FBI, US Attorney's Office and Postal Inspector were involved in this investigation, it is interesting to see that the mortgage fraud indictments are being brought at the state level. The press release notes that:

"With funding from the Ohio Attorney General's Office and the Ohio Organized Crime Investigations Commission, the Cuyahoga County Mortgage Fraud Task Force was formed in December 2007. To date, 289 defendants have been indicted for approximately $111 million in fraudulent loans for 812 houses. Of the 812 houses, 616 fell into foreclosure."

(esp) 

http://lawprofessors.typepad.com/whitecollarcrime_blog/2009/08/ohio-state-ag-takes-on-mortgage-fraud.html

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Comments

Good. With the position the banks have been in recently I think this is a good thing.

Posted by: DWI Attorney | Aug 27, 2009 10:18:45 AM

No action anywhere on the fraud perpetrated by the ratings agencies and banks for the swiss cheese derivatives products they sold as AAA though.

Lets get the mortgage people and applicants though.

No federal agency wants anything to do with this, their agencies didn't do their jobs so they would be at fault also.

When the Fed printing presses break down and we can't afford new ones because dollars are worthless someone will write a book.

Posted by: Jim Donahue | Aug 28, 2009 8:04:22 PM

Thank you, you answered the question I have been searching for which was whether or not to place keywords when blog commenting.

Posted by: cinsel sohbet | Sep 2, 2009 5:33:13 AM

WOW! That's alot of money and people! I wonder if my home was involved in some kind of Fraud ring? Would I even know it if it was?

Posted by: Mike's Mortgage Guide | Sep 7, 2009 5:58:35 AM

This tutorial should be put in a place of honor. The best!!!

Posted by: club penguin cheats | Dec 28, 2009 12:31:17 AM

I just witnessed a similar case in Arizona

Posted by: criminal defense attorney scottsdale | Oct 25, 2010 7:37:46 PM

What a helpful post really will be coming back to this time and time again. Thanks ..

Posted by: omegle | Dec 4, 2011 2:28:50 AM

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