Eight Cop Guilty Pleas In Cleveland-Area Mortgage Scam

From Cuyahoga County, Ohio Prosecutor Bill Mason's office:

• Cuyahoga County Prosecutor Bill Mason announced that eight of ten defendants pled guilty in the first case brought to trial investigated by the Cuyahoga County Mortgage Fraud-Predatory Lending Task Force. On July 31, 2007, ten defendants—seven individuals and three corporations—were indicted on racketeering and theft-related charges for fraudulently obtaining $560,000 in financing to purchase seven Cleveland properties priced at $594,000. Five of the seven properties are either in foreclosure or have been sold through the foreclosure process.

• "These thieves, lying and deceiving to make a quick buck, are leaving entire neighborhoods blighted and abandoned. Communities are being robbed of tax revenue used for schools, roads, and police," said Prosecutor Bill Mason. "They deserve to go to jail."

For the whole story, see 8 Defendants Plea Guilty to Cleveland Mortgage Fraud Case (Eight of Ten Defendants Pled Guilty in $560,000 Mortgage Fraud Case Involving 7 Cleveland Houses).