Monday, September 6, 2010

Ex-bank manager, recruiter charged in Boston loan case - The Boston Globe

Ex-bank manager, recruiter charged in Boston loan case - The Boston Globe:
A former Bank of America Corp. branch manager and a Virginia-based real estate recruiter were charged with wire fraud in federal court in an unfolding case of an alleged long-running mortgage fraud scheme that led to foreclosures and abandoned buildings in Dorchester and Roxbury, the US attorney’s office confirmed yesterday.

"Arthur Samuels, a former manager at Bank of America’s Fields Corner branch in Dorchester, was charged in the case involving Michael David Scott, a Mansfield developer indicted last week on 62 counts of wire fraud, bank fraud, and money laundering in connection with the sale of about three dozen condominiums between 2006 and 2008.

Jerrold Fowler of Norfolk, Va., also was charged with wire fraud for his alleged role as a recruiter for investors — many of them out of state — who participated in the alleged scheme to defraud lenders. In Scott’s indictment, prosecutors said he worked with “associates,’’ but they were not identified. The federal charges against Samuels and Fowler were filed separately in US District Court and made public this week."

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