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Loan Modification

: Flipping Frenzy

REAL ESTATE DEVELOPER SENTENCED TO 14 YEARS IN $50 MILLION REAL ESTATE MORTGAGE FRAUD SCAM

By Ralph Roberts

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A former Los Angeles-based real estate developer who admitted playing a key role in a $50 million mortgage fraud scheme was sentenced today to 14 years in federal prison for masterminding a scheme that defrauded banks by deceiving them into funding inflated mortgages. Charles Elliott Fitzgerald, 48, formerly of Newbury Park and Beverly Hills, was [...]

Full post as published by Flipping Frenzy on December 10, 2010 (boomark / email).

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