Like we’re not suffering enough from defaulted mortgages by well intentioned but in the end over-their-head barrowers, we get asses who are taking advantage of the very frail banking systems. Guys like former Kentucky basketball star Dirk Minniefield who was recently charged with one count of conspiracy to commit wire fraud and eight counts of wire fraud as a part of a $10 million scheme in the Houston area.The indictment alleges Minniefield was a real estate agent in fraudulent home loans designed to secure payments for expensive upgrades that were never performed. The indictment says he represented buyers even though he never met them and they never visited the properties they were supposedly buying.
Minniefield also is accused of contacting the sellers' agents to propose language that would increase the sales prices of homes by including a substantial payment for the renovations.
If found guilty, he faces up to 20 years in jail and a fine of up to $250,000. Plus the government would like that $10 million he and three other illegally obtained.
Hmm...maybe congressmen from Texas need to be more concerned about schemes like these and less about the BCS.
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