1.0 link 228457 <![CDATA[N.Y. Mortgage Fraud Ring Stole $102 Million From Banks: DA]]> http://www.huffingtonpost.com/2009/07/09/ny-mortgage-fraud-ring-st_n_228457.html NEW YORK (AP) -- Twenty-five people, including lawyers, bankers, mortgage brokers and appraisers, and a mortgage company have been charged with committing mortgage frauds involving at least $102 million, New York City prosecutors said.

AFG Financial Group Inc. ran the scheme, said Manhattan District Attorney Robert Morgenthau. He said AFG and its accomplices stole millions of dollars from banks that had loaned money to buy real estate.

The banks in some cases later sold the mortgage debts as investments, but because the...

]]> 2009-07-09T08:59:00-04:00