A case out of New Jersey illustrates not only the seriousness of mortgage fraud but a commitment by law enforcement to eliminate the criminal element from the real estate marketplace.

Elevn individuals from seven states have been charged with a $15 million dollar mortgage fraud scam – and one of the seven for attempted murder of a witness. Five of the group charged face charges for conspiracy to commit wire fraud and money laundering. The scam involved use of phony documents and straw buyers to obtain $15 million illegal profits on overvalued condos.

Read the full news article at DSNews.com.

View AAR’s scams & frauds page (requires member login).