« Middle class by tax bracket in Westchester County, NY: $300k | Main | Dennis the dentist, 3 »

Mortgage fraud rings

Federal prosecutors indicted 24 people in a massive mortgage fraud scheme that they said was led in part by a gang member from San Diego and netted participants $11 million in profits.

In an indictment unsealed yesterday, prosecutors laid out a wide-ranging racketeering conspiracy that ran from 2005 to 2008 and targeted homes across the county. Among the identified leaders was Darnell 'Stringer' Bell, a documented member of the Lincoln Park street gang.

Bell, 38, used his status in the gang to recruit other members for the scheme and "maintain discipline," according to the indictment.

TrackBack

TrackBack URL for this entry:
http://www.stylizedfacts.com/cgi-sys/cgiwrap/fotohof/managed-mt/mt-tb.cgi/4567

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)