26 Individuals & Companies Indicted In Cleveland Area Mortgage Fraud

In Cuyahoga County, Ohio, four more cases of mortgage fraud were indicted today, involving 26 individuals and entities and four houses in Solon, totaling over $2.6 million in fraudulent loans. Cuyahoga County Prosecutor Bill Mason announced the indictments Thursday from a lectern in front of one of the properties, a currently vacant, 4,400-square-foot house with a four-car garage, which at one point sold for $725,000. According to one report:

• Prosecutors say in the cases announced Thursday, mortgage brokers, loan officers and building contractors conspired to inflate prices, forge papers and lie about buyers' incomes to get loans and pocket cash. Straw buyers never saw or lived in the homes.

For the specific details of each of the four separate cases, see the Cuyahoga County Prosecutor's Press Release - Four Mortgage Fraud Cases Indicted 4 Houses in Solon, Over $2.6 Million in Fraudulent Loans.

See also, The Cleveland Plain Dealer - Prosecutor presses mortgage fraud cases in Solon.

For TV coverage from WKYC-TV Channel 3, see Mortgage Fraud - Solon.