mortgage broker pleaded guilty in a mortgage fraud case that defrauded financial institutions

2 plead guilty in Phoenix-area mortgage fraud | Wausau Daily Herald | wausaudailyherald.com:

'via Blog this'
Forty-five-year-old Michele Mitchell and 33-year-old Jeremy Pratt of Glendale each pleaded guilty to one count of conspiracy to commit wire fraud.

Prosecutors say Mitchell claimed to be a mortgage broker, loan officer and real estate investor operating a Scottsdale company. Pratt ran a construction and remodeling company.

Both admitted that between May 2005 and February 2007, they recruited straw buyers with good credit scores to buy homes for purported investment purposes.