Seven Arraigned in Alleged Mortgage Fraud Scheme

CHICAGO—(ENEWSPF)—June 9, 2011. Seven individuals from the suburbs and Chicago are facing mortgage fraud related charges for their participation in an elaborate mortgage fraud scheme that centered around three different residential properties in Chicago’s Englewood and Back of the Yards neighborhoods, according to the Office of Cook County State’s Attorney Anita Alvarez. 

According to prosecutors, the defendants are alleged to have devised a scheme to induce lenders into providing funding for real estate transactions. The…