Mortgage Lowdown

Frauds do pay, but only until the law catches up with you; then you’ll have to pay the price for all the misdemeanors you committed. Husband and wife, Anna and Mark Bonds of St. Louis County, have been indicted on multiple charges of mortgage fraud and conspiracy to commit mail fraud.
Anna has been accused of using her position as a mortgage broker for the firms of A Mortgage Solutions and C.D. Adams, to falsify documents and information about her clients in order to secure mortgages for them — the catch here being the fat commissions she pocketed from the deals. She also allegedly bought and sold personal property with loans brokered using false financial and employment data.

[via Biz Journals]

If convicted, each mortgage fraud charge carries a maximum penalty of 30 years in prison and/or fines up to $1 million; the conspiracy charge carries a maximum of five years and/or fines up to $250,000.