Aug 12, 2009 3:22 pm US/Mountain
3rd Man Accused In Alleged Mortgage Fraud
PUEBLO, Colo. (AP) ―
Federal charges have been filed against a third man in an alleged scheme to buy 22 Pueblo homes using inflated appraisals and phony mortgage applications.
Appraiser James L. Esters was indicted Monday on charges of lying to law-enforcement officers who were investigating the allegations.
Danny DeGrande and John Scherling were indicted in June on charges of defrauding lending companies when they bought 22 homes. The indictment alleged they got loans based in part on inflated appraisals and phony applications.
Esters didn't immediately return a phone message Wednesday. No phone listing could be found for DeGrande or Scherling.
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