Feds Charge Drug Ring Suspect With Mortgage Fraud

The FBI has arrested a St. Louis County man and his mortgage broker wife for allegedly falsifying tax forms, pay stubs and other documents to assist "recruited unsophisticated home buyers" in qualifying for mortgage loans, according to a report on STLtoday.com (the Internet home of the St. Louis Post-Dispatch). Reportedly, these "unsophisticated recruits" also had either a low credit score or a high ratio of debt to income.

According to the article, the husband "[w]as already due in court for a pretrial hearing that afternoon, as one of six men allegedly involved in a drug ring that brought more than 120 kilograms of cocaine to the St. Louis area. As part of that scheme, a Hillsdale police officer has been accused of helping set up the gang's drug suppliers to be robbed by other members."

To read more, see Couple accused of mortgage fraud
.