The indictment is the third round of indictments in a mortgage fraud investigation conducted by the Mobile Field Office of the FBI. In November of 2010, four defendants were charged in connection with the same investigation and will be tried in April. In January of 2011, three defendants were charged in connection with the same investigation and will also be tried in April. Teeters and Nattier will be tried in May.
The conspiracy count alleges that members of the conspiracy solicited straw buyers to submit offers to purchase real property located in Baldwin County , Alabama . The count also alleges that to secure funding for the purchase and refinancing of the properties, loan applications containing false information, misrepresentations, and omissions were submitted to lending institutions by members of the conspiracy to induce the lenders to make mortgage loans they otherwise would not have funded.
The case will be prosecuted by United States Attorney Deborah Griffin.
No comments:
Post a Comment