State breaks up alleged sub-prime fraud ring
By Marc Lifsher and Andrea Chang
Los Angeles Times Staff Writers
March 19, 2008
State and local prosecutors said Tuesday that they had shut down a mortgage fraud ring that allegedly victimized thousands of seniors and others, some of whom lost their homes.
The San Bernardino County district attorney's office arrested five people and were waiting for two more to surrender to face charges of conspiracy, grand theft and elder abuse as part of a crackdown on alleged sub-prime mortgage lending scams with the California Department of Justice.
Abridged
SOURCE: latimes
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