I was reading this story in IndyStar.com regarding this Mortgage broker being sent to prison. He was sentenced to seven years in prison and ordered to pay $3.4 million restitution. He pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering. It has taken some time for him to go to trial because his mortgage fraud took place primarily in 2002 and involved 99 loans which resulted in losses of $3.4 million. It never fails that whenever people commit mortgage fraud they do not do it by themselves. This does make me wonder what happened with the people that were involved with him.
