| FBI mortgage fraud cases involve drug gangs and organized crime and nets hundreds |
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| Written by Michael Webster | |
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by Michael Webster Sharon Ormsby, section chief in charge of financial crimes for the FBI, said: .... ....“some cases, gang, drug and organized crime investigations have resulted in mortgage fraud cases because such schemes enable criminals to launder money. Hundreds of people across the country have been arrested by law enforcement officials today and yesterday targeting crooked mortgage brokers, real estate agents, industry officials, and drug gangs a top FBI official claims.
More than 400 people are believed targets of the far reaching criminal FBI investigations in the mortgage fraud probe. 300 plus suspects have been arrested, including 60 in a coordinated sweep Wednesday, the Justice Department said: The losses in the mortgage fraud cases cost consumers more than $1 billion,
"We will, as appropriate, seek prison terms," Filip said. "It is a very, very serious matter." "Operation Malicious Mortgage," the investigation by the FBI and Justice Department, began March 1, government officials said. It resulted in 144 fraud cases in which 406 defendants were charged. The FBI is investigating about 1,400 more cases of potential fraud, Mueller said, calling it "a substantial number of investigations, unfortunately." The agency has 42 mortgage fraud task forces in operation, employing 180 agents, Mueller said: Many agencies were credited as contributing to the investigation, including the Internal Revenue Service, the Secret Service, the Department of Housing and Urban Development, immigration and customs agencies, postal inspectors and the Federal Deposit Insurance Corporation. Most of the arrests came Wednesday, federal law enforcement officials said, in
Investigative Reporter
[1] http://www.lagunajournal.com:80/fbi_mortgage_fraud_cases_involve.htm [2] VIDEO : SOURCE = CNN.COM http://www.cnn.com/video/#/video/crime/2008/06/19/bts.mortgage.flip.mueller.cnn          |
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