Hundreds Arrested in Mortgage Fraud Sweep

More than 400 people have been arrested since March as part of a sweeping Justice Department crackdown on alleged mortgage fraud schemes. The FBI said the schemes — 144 mortgage fraud cases, resulting in 406 arrests between March 1 and June 18 — caused $1 billion in mortgage losses and have contributed to the nation's housing crisis. The arrests, dubbed operation "malicious mortgage," were announced Thursday along with the separate indictments of two Bear Stearns hedge fund managers on...Full Story
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