This former Countrywide loan officer may not be the worst mortgage fraudster to operate in the Phoenix area, but she’s got to be up there. Using straw buyers, she had them purchase a total of 60 properties at inflated prices. This was achieved using bogus appraisals, allowing her to pocket the profits. And that’s just the beginning. Check this out: [Thanks L!]
How likely is it that the victims will ever see any of that $22 million dollars in restitution she is to pay? I suspect that if this woman has to do an honest day’s work to earn her money, victims are unlikely to see even twenty-two dollars.