Strib - Mr. and Mrs. James Ober of Hudson, Wisconsin
were each given 10-year prison terms for racketeering by Hennepin County
District Judge Joseph Klein. The couple pleaded guilty for getting fraudulent
mortgage loans through their company, Mortgage Planners, Inc., and then
negotiating more than $6 million in "kickbacks" from many such mortgage
loans. They engineered about $23 million in such loans. Three other people were
involved in these transactions, one has pleaded guilty, one will be standing
trial and a third one has apparently flown the coop and is being sought. This
complex equity-plot relied on forged documents such as property
records, college transcripts, pay stubs and even court records to qualify
'straw buyers', according to the news report. It is very unusual to have 5
forgers, 3 of who are unrelated to the other two. The combination of greed and
fraud is most difficult to conceal when more than one person is
involved.
No comments:
Post a Comment