"A south suburban attorney and national radio host who bills himself as the "people's attorney" has been charged in a $10 million mortgage fraud scheme, federal officials announced today. Warren Ballentine was indicted last week by a federal grand jury for defrauding lenders by scheming with others to obtain nearly 30 bogus mortgage loans, according to the U.S. Attorney's office in Chicago."
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This sort of thing was rampant in Chicago during the housing boom years. The US Attorney claims he did this between 2004 and 2006. These days, the scams involve many of the same old mortgage fraudsters (the ones who didn't get caught) doing "mortgage foreclosure rescue" scams. They get an up-front payment from somebody facing foreclosure and then do nothing.
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