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Posted: Monday, 14 July 2008 7:35AM

Five Guilty Pleas In Mortgage Fraud Scheme

Five people have entered guilty pleas in connection with a federal crackdown of mortgage fraud across the country. Prosecutors say the five have admitted to various counts in the case. Las Vegas mortgage broker Eva Mazzarella, her husband Steven Grimm and four other loan officers are awaiting trial on conspiracy and fraud charges. Authorities say the six suspects allegedly took part in a scheme where so-called "straw buyers" were paid to let the defendants use their names to purchase homes and other properties. Nevada U.S. Attorney Greg Brower says the alleged Vegas scheme caused over 17-million dollars in losses to federally-insured banks. The investigation, known as "Operation Malicious Mortgage," is ongoing.


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