Filed under: Fraud, Consumer Ally

A real estate investor and ringleader of an operation responsible for nearly $50 million of mortgage fraud pleaded guilty on June 20 in a federal court, the Justice Department announced.

Brett Matheson, 46, president and CEO of Maricopa Property Investment Solutions Inc. of Phoenix, Ariz., admitted recruiting “straw buyers” during real estate seminars to submit false mortgage applications as part of a conspiracy to commit wire fraud.

Continue reading Businessman Pleads Guilty to $50 Million Mortgage Fraud Scheme

Businessman Pleads Guilty to $50 Million Mortgage Fraud Scheme originally appeared on WalletPop on Wed, 29 Jun 2011 11:00:00 EST. Please see our terms for use of feeds.

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