Oklahoma Jury Convicts 6 In Cash Back Real Estate Scam

A jury in an Oklahoma Federal Court convicted six people in a cash back mortgage fraud scam involving artificially inflated home sale prices and submitted false loan applications, reports The Edmond Sun. Those convicted include Brandon L. Baum, of Joplin, Mo.; Joseph Conrad Therrien, of Oklahoma City; and Gayle L. Caldwell, Charles E. Caldwell Jr., Teresa M. Therrien, and Rusty Real Therrien, all from Edmond, Oklahoma.

It was alleged "that each of the defendants intended to personally profit by funneling substantial sums of money back to themselves and others from the excess sales proceeds under the guise of remodeling, repair costs or marketing service fees." For more, see 6 guilty in Oak Tree home fraud.
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