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NY says 13 indicted in $100 million mortgage fraud

NEW YORK
Wed Jul 8, 2009 10:06am EDT

NEW YORK (Reuters) - Thirteen people and an unspecified mortgage origination company are under indictment for a $100 million mortgage fraud scheme, Manhattan District Attorney Robert Morgenthau's office said on Wednesday.

Another dozen defendants who also participated in the purported scheme have already waived indictment and pleaded guilty, Morgenthau's office said. The defendants include lawyers, bankers, appraisers and mortgage brokers, according to his office.

Additional details are set to be announced at a news conference later Wednesday.

(Reporting by Martha Graybow, Editing by Maureen Bavdek)


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