Friday, June 18, 2010

Federal Task Force Arrests 485 for Mortgage Fraud

The U.S. Department of Justice on Thursday announced the results of the largest mortgage fraud sweep in history.


Since the nationwide crackdown began in March, Feds have gone after 1,215 criminal defendants, who are allegedly responsible for more than $2.3 billion in losses, and made 485 arrests.
In addition to the arrests made, the Justice Department says to date, the operation has resulted in 191 civil enforcement actions and the recovery of more than $147 million.


The FBI currently has over 3,000 pending mortgage fraud cases, almost double the figure for all of 2008.