FBI: Ten Defendants Indicted in Alleged $14.5 Million Mortgage Fraud Scheme That Resulted in $8 Million Loss to Lenders

Chicago, IL-(ENEWSPF)- Ten defendants, including five licensed loan originators, were indicted September 25 for allegedly participating in a scheme to fraudulently obtain approximately 52 residential mortgage loans totaling at least $14.5 million from various lenders. The indictment alleges that the mortgages were obtained to finance the purchase of various properties, primarily on the west and south sides of Chicago, by straw buyers who were fraudulently qualified for loans while the defendants allegedly profited. As a…