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Utah Part of Nationwide Crackdown on Mortgage Fraud
More than three dozen Utah cases are part of a nationwide crackdown on mortgage fraud known as Operation Stolen Dreams, officials said Thursday.
Since March 1, the interagency Financial Fraud Enforcement Task Force has identified 1,215 criminal defendants across the country, including 485 arrests. They are responsible for more than $2.3 billion in losses, authorities said. Additionally, the operation has resulted in 191 civil enforcement actions and the recovery of more than $147 million.
The 34 Utah cases include criminal complaints, indictments, convictions or imposition of sentences.
"Mortgage fraud continues to be a significant problem in Utah," acting U.S. Attorney Carlie Christensen said. "While these crimes directly harm the victims of the mortgage fraud, this conduct also takes its toll on communities in our state through foreclosures and other economic hardships that often follow the criminal conduct."
Mortgage fraud cases in Utah continue to be investigated and prosecuted by members of the Utah Mortgage Fraud Task Force.
"The Salt Lake City FBI Field Office is determined to weed out mortgage fraud in Utah. Illegally flipping property, lying on mortgage applications, or participating in other real estate fraud schemes are serious crimes," said FBI Special Agent in Charge Jim McTighe.
The Department of Justice is requesting $178 million to combat mortgage fraud in 2011, which includes $17.2 million for U.S. attorneys' offices.
Source: Deseret News
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