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03/10/07
5 indicted in real estate fraud case
Filed under: General, Mortgages
Posted by: Lillian Wong @ 10:50 am

A group of former housing counselors, loan officers and an escrow agent has been indicted on fraud and conspiracy charges in one of the biggest real estate fraud cases in Arizona since the housing crash of the late 1980s. The group is accused of defrauding the Department of Housing and Urban Development of $1.9 million through a pre-foreclosure scam that targeted dozens of first-time homeowners across the Valley from 2001 to 2003, according to a grand-jury indictment filed in federal court late Wednesday.   More…

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