Originally published Saturday, July 12, 2008 at 12:00 AM
Ex-loan officer, assistant indicted in Bellevue mortgage scam
A former loan officer at a Bellevue mortgage company and his assistant have been indicted on charges of conspiracy and wire fraud in a scheme that prosecutors say involved using straw buyers to purchase dozens of homes at inflated prices and siphoning off the extra cash for their own use.
Seattle Times staff reporter
A former loan officer at a Bellevue mortgage company and his assistant have been indicted on charges of conspiracy and wire fraud in a scheme that prosecutors say involved using straw buyers to purchase dozens of homes at inflated prices and siphoning off the extra cash for their own use.
Christopher Brooks and Amani Moss allegedly obtained more than $27 million in fraudulent loans for the purchase of at least 54 homes beginning in 2005, according to an indictment unsealed Friday.
The charges state that they recruited straw buyers, who would allow Brooks and Moss to falsify loan papers for them. At the same time, Brooks and Moss would use a realtor, who is identified in the indictment by the initials "L.A.," to find home sellers who were willing to overstate the purchase price of their homes. The straw buyers were paid between $7,000 and $10,000 for each transaction, the indictment says.
Brooks, who worked for America Mortgage in Bellevue, would then prepare and submit the false loan papers to several lenders in the area, according to court papers.
The difference between the inflated price and the purchase price of the home ranged from $30,000 to $778,000 per home, and the charges state that money was funneled through a business owned by Moss, Peachtree Development, and into their pockets.
Mike Carter: 206-464-3706 or mcarter@seattletimes.com
Copyright © 2008 The Seattle Times Company
New laws help tenants evicted due to foreclosure
Researchers stunned by inmates' success raising endangered frogs
Seattle may allow homeowners to build backyard cottages
Federal Way group on trail of missing pets
Must Metro commuting at Northgate be so chaotic?

2009 fireworks time lapse
With strict parking rules enforced at this year's July 4th celebration on Wallingford Ave North, less cars and more spectators filled the streets.
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
Tax tips for new independent professionals
Post a comment
nwautos

Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
nwhomes

Find a new home or condo that fits your lifestyle.
Search New Developments
Builder Directory
- Landmark Smith Tower mostly vacant
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Palin links resignation to 'higher calling' and blasts media in Facebook posting
- Former NFL MVP McNair killed
- Hard times for tourist towns means good deals for travelers
- Shooting unveils very different sides of McNair
- Tukwila residents rally against light-rail noise
- Quincy Jones remembers "the biggest entertainer on the planet": Michael Jackson
- Confessions of an Idol Addict | "American Idols" on tour: Live coverage from opening date
- Plasma and LCD beware; OLED screens ready to go mainstream
- Seattle Mariners at Boston Red Sox: 07/05 game thread
247 - Palin links resignation to 'higher calling' and blasts media in Facebook posting
172 - Hatred for the NBA runs deep, but don't take it out on the players
135 - Tukwila residents rally against light-rail noise
125 - Former NFL MVP McNair killed
112 - Property taxes: Appeals shoot up is King, Snohomish Counties
103 - Tent City on campus: UW stalls decision
100 - Anti-tax rally in Olympia attracts about 1,500
68 - Seeking your questions
53 - Mariners did their part, now they need help
44
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Hard times for tourist towns means good deals for travelers
- Landmark Smith Tower mostly vacant
- Plasma and LCD beware; OLED screens ready to go mainstream
- Tent City on campus: UW stalls decision
- The People's Pharmacy | Estrogen mimicker found in sunscreen
- Toyota's Toyoda scolds execs for emulating U.S. car companies' mistakes
- Tukwila residents rally against light-rail noise
- Outdoor-theater season kicks off at Volunteer Park
- Seattle safety project: A snake shelter on Beacon Hill





