Thursday, October 23, 2008

Florida man sentenced for conspiring to commit fraud

Graham Kligerman, a resident of Clearwater, Florida, received a jail sentence of 10 years for conspiracy to commit bank, mail and wire fraud. In January of 2004, he began involvement in mortgage forclosure rescue fraud.

In the scheme, more than 50 homeowners facing foreclosure sold their homes to straw purchasers with the expectation that they would lease the homes back to the original homeowners, a release from the Department of Justice said.

These straw purchasers received loans under the pretense that they would purchase the homes from the original homeowners. Instead, they borrowed more money than the first mortgage and delivered the homes’ equity to others involved in the conspiracy, the release said.

Read more here.

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1 comment:

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