Nine Straw Buyers Among 11 Suspects Sentenced To Prison In Mortgage Fraud Scam

In Texas, KEYETV Channel 42 reports:

• A federal judge gave hefty prison sentences to 11 Central Texans involved in a mortgage fraud scheme. U.S. Attorney Johnny Sutton said Tuesday 16 people in all were part of the scheme. It involved at least 33 properties, 19 financial institutions and more than $4.5 million in losses. Beginning in September 1999, the defendants were defrauding mortgage lenders in the Austin and San Antonio area.

For more, see Austin Federal Judge Sentences 11 In Housing Fraud Scheme.