Michigan Feds Get Guilty Plea In Mortgage Fraud

HomeTownLife.com reports that Scott Edward Ashley has been sentenced to more than four years in prison after pleading guilty to defrauding three banks of nearly $4 million in a mortgage scheme. Ashley, of Canton, Michigan and who is deaf, living off of disability benefits, and who, with his wife, reported a joint income of less than $25,000 per year from 1998 to 2001, obtained $3.8 million in home financing in 2002 by claiming he earned more than $1 million annually and that he had made a $1.3 million down payment on a Bloomfield Hills home. For more, see Man headed to prison for $4m mortgage scam.