Sunday, October 16, 2011

Mortgage fraud plea involves 40-plus homes

BRIDGEPORT, Conn. - A New York woman has pleaded guilty to multimillion-dollar mortgage fraud charges involving more than 40 homes in Bridgeport.

The Connecticut Post reports that Marleen Shillingford was one of several owners of a company that bought and sold real estate in Bridgeport from 2001 to this past August.

Authorities say the 44-year-old Shillingford and co-conspirators bought homes with false letters from fake employers, false earnings statements and fraudulent bank records to obtain loans. When the loans were approved, Shillingford and others would transfer the money into their bank accounts from the company's account.

U.S. Attorney David Fein said dozens of Bridgeport properties were foreclosed as a result.

The Nesconset, N.Y., resident waived her right to indictment Wednesday and pleaded guilty in U.S. District Court in Hartford to wire fraud and money laundering charges.

by Associated Press Oct 14, 2011

Mortgage fraud plea involves 40-plus homes

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