Source: ABA Journal
A Florida title attorney who is playing a prominent role in the fight against mortgage foreclosure fraud by lenders has taken a plea in a federal case over an alleged mortgage fraud conspiracy.
Carol Asbury, 59, could get as much as 20 years in prison and a $250,000 fine when she is sentenced next month, the Palm Beach Post reported.
The alleged scheme involved payments to straw buyers to pretend they were purchasing high-priced homes in Wellington. Using fraudulent loan documents, participants obtained loans for more than the purchase price and pocketed the difference, according to prosecutors.
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