Two Convicted in Mortgage Fraud
A federal jury convicted two New Jersey men who were involved in a mortgage fraud scheme. The two were convicted following a six-week trial. Prosecutors say they conspired with others to obtain millions of dollars of mortgage loans for unqualified borrowers from 2002 to 2005. They were convicted on charges including wire fraud and money [...]
Petters Blamed for $3.5 Billion Fraud
A federal prosecutor has asked a jury to hold Minnesota businessman Tom Petters responsible for a gigantic fraud at his company. During closing arguments, which were held on Monday, prosecutor Jon Marti said that Petters lied on the stand when he attempted to blame the fraud on several of his associates. Marti says the fraud [...]