Mortgage Fraud Takes a Deadly Turn!

by Jan Steward on July 24, 2012

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

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

Enjoy this post? Get the latest posts sent to you by subscribing via email or RSS.

Jan Steward

Jan Steward brings a wealth of experience to the Arizona Association of REALTORS® as the manager, risk management. She is a former title company manager and escrow officer with paralegal training. As a REALTOR® and broker, Jan served the Northern Arizona Association of REALTORS® (NAAR) as board president, vice-president, director, MLS chair, delegate to NAR’s national convention and a member of the Professional Standards and Grievance Committees. Jan was honored as REALTOR® of the Year by NAAR. She also has served on AAR's Professional Standards Committee and a variety of ad hoc committees.

To see more posts by this author, click here.

Leave a Comment

Previous post:

Next post: