You Can Run, But You Can't Hide (from the Long Arm of the Law)

Well, here we are again.

Add another dozen or so Phoenix real estate agents, loan officers and escrow officers who have been indicted by the US Attorney's office.

Conspiracy, bank and wire fraud, false statements, and for good measure: money laundering.

Companies involved were sometimes just the place the people worked at and committed the scams, and some companies were probably set up just for that purpose. We will stay tuned to the events as they play out.

Overstate borrowers income, assets and credit scores, false escrows created to reflect downpayments never made, overstated real estate appraisals, straw buyers, kickbacks.

The payoff? Over $2.4 million.

Old Ben Franklin does not look happy on this bill. He actually looks perturbed. As well he should be!

http://www.azcentral.com/members/Blog/CatherineReagor/88501

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Bryan Watkins sells real estate in Mesa, Gilbert, Chandler and other cities next door. Want to SEARCH the official MLS for FREE just like and agent? Jump over now: www.LRARealEstate.com. Some info courtesy of AZ Central.

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