Tuesday, March 30, 2010

Keep up to date on the U.S. Attorney's Mortgage Fraud task force

The phrase "tip of the iceberg" comes to mind as I read the press releases on the U.S. Attorney's website. His collection of prosecutions and pleas are significant, surely, but my own experience is that dozens of settlement companies and their owners have simply melted away into the mist with their ill-gotten gains.

We have brought prosecutors iron clad cases of fraud, with deposition transcripts and documented transactions, only to be told that sums in the range of $300,000 are not big enough for prosecution. Worse, we are told that "its a business matter," and we should continue to pursue our civil remedies.