I need to add a section just for this type of fraud (another thing for my to do list)
CHICAGO —Six Chicago area defendants were indicted on federal charges for allegedly fraudulently obtaining more than $10 million in mortgage loan proceeds from various lenders by submitting false loan applications and supporting documents, federal law enforcement officials announced today. The defendants, who include loan officers, processors, a contractor and an unlicensed appraiser, were each charged with one or more counts of mail, wire or bank fraud in an eight-count indictment that was returned by a federal grand jury yesterday. As part of the alleged scheme, the indictment specifies eight residential properties—seven of them on the south side of Chicago—upon which mortgage loans were fraudulently obtained between 2002 and 2007.
Two of the defendants, Deangelo McMahan, 36, of Hazel Crest, and Fred Haywood, 37, of Chicago, both of whom were loan officers for various mortgage lenders, were initially indicted in December. Four new defendants are Rita McKenzie, 39, of Round Lake Beach, a loan processor; Steve Young, 51, of Flossmoor, a loan officer; Carl McMahan, 42, of Round Lake Beach, Deangelo McMahan’s brother who operated a purported home re-construction business; and Sumira Persaud, 32, of Blue Island, an unlicensed appraiser. Arrest warrants have been issued for McKenzie and Carl McMahan, while the others will be ordered to appear for arraignment at a later date in U.S. District Court, including Deangelo McMahan and Haywood, who were previously released on bond.
To read the rest of the story, go to
http://chicago.fbi.gov/dojpressrel/pres ... b19_09.htm
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