June 18, 2010

485 Mortgage Scams Busted!

The FBI this week announced that they have blown up 485 cases of mortgage fraud, with arrests around the country. The sting was named Operation Stolen Dreams.

Speaking on the investigation Attorney General Holder said "Mortgage fraud ruins lives, destroys families and devastates whole communities, so attacking the problem from every possible direction is vital," said Holder. "We will use every tool available to investigate, prosecute and prevent mortgage fraud, and we will not rest until anyone preying on vulnerable American homeowners is brought to justice."

According to the government mortgage fraud has caused $2 billion to be lost by the public. The FBI still has 3,000 cases of mortgage fraud cases on their plate, and more arrests may come down the road.

485 Mortgage Scams Busted!

The Justice Department on Thursday trumpeted its efforts to crack down on mortgage fraud, saying it launched an interagency plan to detect costly scams Attorney General Eric Holder, FBI Director Robert Mueller and Housing and Urban Development Inspector General Kenneth Donohue held a news conference in Washington to introduce "Operation Stolen Dreams," a three-month-long "takedown" of mortgage fraud schemes throughout the nation. The operation has already netted the arrests of 485 fraud artists. There are 21 agencies involved in the efforts.

485 Mortgage Scams Busted!

Posted at June 18, 2010 6:20 AM