When things get tough, those who want to make money illegally find new schemes. Mortgage fraud is on the upswing.<\/p>\n
\u201cJust recently, the Colorado Attorney General indicated that three local Denver residents were indicted for running an intricate mortgage fraud scheme through their property management company. The indictment is not exactly short either; there are 23 counts listed. The three conspirators were evidently diverting funds from home sellers or funding companies through their property management company from April 2006 to September 2008,\u201d said Miller Leonard, a Denver federal criminal defense lawyer and State criminal defense lawyer.<\/p>\n
The management company was actually a shell corporation. This is a \u201cshell\u201d business that operates to route money etc. without the company having any assets or operations. Shell companies are not illegal on their own and some have legitimate purposes. They are also commonly called front companies or mailbox companies.<\/p>\n
\u201cDuring any deals that the three were (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" When things get tough, those who want to make money illegally find new schemes. Mortgage fraud is on the upswing. \u201cJust recently, the Colorado Attorney General indicated that three local Denver residents were indicted for running an intricate mortgage fraud…<\/span><\/p>\n