Missouri FBI Active In Mortgage Fraud Investigations

Receipt of numerous allegations about mortgage fraud schemes in the Springfield area has resulted in active investigations by the FBI, according to an article in the Springfield Business Journal Online Edition, reported at sbj.net.

Disproportionately high list prices for homes in some subdivisions and an upsurge in foreclosures has the local real estate community buzzing with speculation about possible widespread fraud.

Reference to one incident is made where, subsequent to a 2005 civil lawsuit against Realtor Charles Walker filed by a former business partner in which possible fraud-related allegations were made, authorities (local, state and federal) seized computers and documents from Walker's office pursuant to a search warrant.

To date, Walker has not been arrested, no charges have been filed against him, and officials will not comment on any possible criminal investigation of Walker himself, although reportedly, a joint FBI and IRS investigation into his business dealings is active.

To read the entire article, see:

FBI investigating alleged mortgage fraud in Springfield
(Abnormally high sale prices and foreclosures cause concern in real estate circles)
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