Inflating Sales Prices & Home Values Gets Pennsylvania Mortgage Broker 37 Months

In Pittsburgh, Pennsylvania, The Associated Press reports:

• A mortgage broker who prosecutors say cost lenders between $400,000 and $1 million was sentenced to more than three years in federal prison. William D. Edgar, 49, of Verona, operated America's Mortgage Outlet in Monroeville. Besides serving 37 months in prison, U.S. District Judge Gary Lancaster ordered Edgar to pay $174,000 in restitution. He pleaded guilty to conspiracy and bank and wire fraud last year and has already repaid $90,000.

For more, see W. Pa. mortgage broker sentenced in scam.