7 in Chicago indicted on alleged mortgage fraud charges

CBS News on May 4, 2012 released the following:

“CHICAGO — Federal authorities say seven people have been indicted in a mortgage loan fraud scheme worth more than $8.8 million.

Federal prosecutors allege the group fraudulently obtained about 35 mortgage loans from various lenders to buy condominium units in a building on Chicago’s Michigan Avenue. Prosecutors say the defendants disbursed the money among themselves and companies that they owned or controlled.

The defendants are charged with multiple counts of wire fraud. A federal grand jury handed down the indictment Wednesday. Federal authorities say the charges are part of continuing efforts to investigate mortgage fraud in northern Illinois.

The seven defendants will be arraigned later.”

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Douglas McNabb – McNabb Associates, P.C.’s
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Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition Defense, OFAC SDN Sanctions Removal, International Criminal Court Defense, and US Seizure of Non-Resident, Foreign-Owned Assets. Because we have experience dealing with INTERPOL, our firm understands the inter-relationship that INTERPOL’s “Red Notice” brings to this equation.

The author of this blog is Douglas C. McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.

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