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Hundreds indicted in mortgage fraud probe

Posted on June 19, 2008 - 6:18pm at A Disgruntled Republican
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WASHINGTON - Federal authorities announced Thursday that more than 400 real estate industry players have been indicted since March — including dozens over the past two days — in nationwide crackdown on mortgage fraud that has contributed to the country’s housing crisis.
The FBI put the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion.

Since March 1, 406 people have been arrested in the sting dubbed “Operation Malicious Mortgage”