KING5-TV Investigative Report On Seattle Mortgage Fraud

In Seattle, Washington, KING5-TV reports of two brothers who trusted friend/mortgage broker/realtor Andrew Vaughey, on whose advice they bought three properties. Now, the brothers are going broke trying to keep up with the mortgage payments.

According to the report, the KING 5 Investigators have uncovered that Andrew Vaughey lied to the banks to get the brothers into loans they couldn't afford. They took loan documents to a forensic document examiner, who reported that the evidence is overwhelming that the brothers' signatures were forgeries. A KING 5 background check on Vaughey revealed that he was a former stockbroker who got "kicked out of the industry two years ago for allegedly "defrauding customers" and trying to "harass and intimidate" a securities investigator."

One more discovery made by KING 5 was that Vaughey was reportedly the true owner of the properties that the brothers purchased. The brothers are now suing Vaughey and his associates.

For more, see Investigators: Mortgage Scheme Traps Buyers.

Go here to watch the KING 5 TV report, by investigative reporter Susannah Frame.
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