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Co-conspirators caught in Colorado fraud scheme
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Wednesday, September 5, 2012
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Three co-conspirators were found guilty of implementing a mortgage fraud scheme through wire fraud, bank fraud and money laundering, the U.S. Attorney’s Office, the Federal Bureau of Investigation, and IRS-Criminal Investigation announced. The co-defendants submitted false appraisals for some of the properties. One defendant supplied the appraiser with inflated values of comparable homes or omitted information concerning the home sales so the appraiser would overvalue the current home.
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