Feds say trio in Ohio scammed lenders out of $6.7M

AP News
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Posted: Oct 15, 2010 8:23 AM
Feds say trio in Ohio scammed lenders out of $6.7M

Federal authorities say three Cleveland-area people conspired to scam mortgage lenders out of about $7 million that was then used to buy items such as a luxury car and a plasma TV.

U.S. Attorney Steven Dettelbach on Thursday announced that a grand jury in Cleveland indicted 36-year-old Louis Amir of Gates Mills; 45-year-old Daphne Stokes of Cleveland; and 46-year-old Deirdre Ferguson of Beachwood.

Investigators say the trio in December 2006 and January 2007 conspired to obtain six loans to finance a Gates Mills home for which Amir paid about $2 million. The government says four mortgage lenders suffered losses after issuing loans for more than the home's market value.

Court records were not available late Thursday, and it was unclear whether the defendants have attorneys.