Two real estate companies, a title company, an investment company and 37 people have been charged in mortgage fraud cases in the Chicago area that cost lenders $48 million, federal officials announced Tuesday.
Two real estate companies, a title company, an investment company and 37 people have been charged in mortgage fraud cases in the Chicago area that cost lenders $48 million, federal officials announced Tuesday.
It was the third major batch of unrelated mortgage fraud cases unveiled in the last year by federal prosecutors eager to focus attention on the crime.
"There certainly is a wave of mortgage fraud that we’re trying to crack down on," U.S. Attorney Patrick J. Fitzgerald said at a news conference.
Properties in the batch of five unrelated cases ranged from dilapidated houses in Chicago’s blighted Englewood neighborhood to Near North Side condominiums to homes in the affluent suburbs of Glenview and Wheaton.
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