A Cleveland-area grand jury indicted nine former employees of defunct subprime lender Argent Mortgage alleging the workers, which included managers and supervisors, played a role in approving fraudulent subprime home loans, according to the Cuyahoga County prosecutor's office.
The felony charges claim Argent employees and four others, including real estate appraisers, engaged in a pattern of corrupt activity, theft and tampering with records, according to the indictment.
Argent — formerly the wholesale lending arm of now defunct Ameriquest — was one of the biggest subprime lenders in the Cleveland area from 2003 to 2005, according to the Cleveland Plain-Dealer. No one connected with Argent could be located for comment.
Inner-city neighborhoods in Ohio's Cuyahoga
Read on.
No comments:
Post a Comment