Welcome to The Home Equity Theft Reporter a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog ordain consist of information describing the various forms of domiciliate Equity Theft and links to news reports & other informational sources from throughout the country about the victims of domiciliate Equity Theft and what government authorities and others are doing about it.
An almost two-year joint federal and express investigation has resulted in the arrest of three Sumner County men in an elaborate mortgage fraud scheme involving the purchase of 22 luxury homes in Hendersonville and Gallatin by unqualified “straw” buyers. Harold Stafford of Hendersonville and Miles Jackson Black and Jeffrey Dunn Hatchcock of Gallatin were each charged with one ascertain of conspiracy. 21 counts of equip fraud and three counts of bank fraud following a two-year investigation. In addition. Stafford faces 25 counts of money laundering.
According to the indictment. Stafford the owner of Stafford contract Group. Stafford Holding Group and Keys to Success agreed with the builders and sellers of the 22 luxury homes to find buyers who would acquire the homes at prices that were $10,000-$165,000 more than their original asking prices. [...] The builders and sellers agreed to pay Stafford any be of the sale that exceeded the original asking prices of the homes federal court records show. Stafford recruited seven unqualified straw buyers with good ascribe histories to apply for first and second mortgages on multiple properties where the purchase determine was greater than the seller’s original asking price according to the indictment.
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Related article:
http://homeequitytheft.blogspot.com/2007/11/tennessee-trio-facing-federal-fraud.html
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