Home › Forums › Financial Markets/Economics › 24 People in S.D. Indicted on Mortgage Fraud.
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April 9, 2009 at 7:18 AM #378954April 9, 2009 at 3:27 PM #378411
aldante
ParticipantConcho-
You are exactly right.Check it out:
http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS
April 9, 2009 at 3:27 PM #378687aldante
ParticipantConcho-
You are exactly right.Check it out:
http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS
April 9, 2009 at 3:27 PM #378870aldante
ParticipantConcho-
You are exactly right.Check it out:
http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS
April 9, 2009 at 3:27 PM #378913aldante
ParticipantConcho-
You are exactly right.Check it out:
http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS
April 9, 2009 at 3:27 PM #379042aldante
ParticipantConcho-
You are exactly right.Check it out:
http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS
April 9, 2009 at 4:26 PM #378539patientrenter
Participant[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]
I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.
April 9, 2009 at 4:26 PM #378817patientrenter
Participant[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]
I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.
April 9, 2009 at 4:26 PM #378999patientrenter
Participant[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]
I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.
April 9, 2009 at 4:26 PM #379043patientrenter
Participant[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]
I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.
April 9, 2009 at 4:26 PM #379170patientrenter
Participant[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]
I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.
April 9, 2009 at 4:54 PM #378554blahblahblah
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
April 9, 2009 at 4:54 PM #378832blahblahblah
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
April 9, 2009 at 4:54 PM #379014blahblahblah
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
April 9, 2009 at 4:54 PM #379058blahblahblah
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
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