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A grand jury announced the indictment today of six real estate investors and mortgage brokers in what the state attorney general's office described as an "elaborate mortgage fraud scheme."
The Suffolk County grand jury returned indictments accusing three real estate investors, two mortgage brokers, and a former local attorney, according a press release issued by the attorney general. The alleged $12.5 million scheme involved using bogus documents to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed multi-family homes in Greater Boston. The accused allegedly made $2 million in profits.
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