North Florida Feds Get Guilty Pleas in Cash Back Mortgage Scam, Involved $17.7 Million In Fraudulently Obtained Mortgages

WJXT-TV Channel 4 in Jacksonville, Florida reports:

• Two men accused of obtaining about $17.7 million in fraudulent mortgage loans have pleaded guilty to federal charges of conspiracy to commit wire and bank fraud, according to the U.S. Attorney's Office. Justin D. Barker, 31, and Robert W. Hulbert, Jr., 45, both of Jacksonville, could face up to 30 years in prison and a fine of $1 million.

[...]

• Hulbert, as the manager of the Jacksonville branch of Nations Title Agency of Florida, operated as the closing agent for the transactions. At the closings, Hulbert would disburse funds from the lenders, providing the sellers with checks in the amount of the original sales prices, and providing the remainder of the loan funds -- the proceeds of the fraud -- to one or more of the conspirators.

For more, see 2 Plead Guilty To $17.7 Million In Mortgage Fraud.