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Texas Atty Enters Plea Deal For $5.3M Mortgage Fraud Scheme

Law360 (May 1, 2018, 4:28 PM EDT) -- A Texas attorney entered a guilty plea stemming from a scheme that defrauded Wells Fargo and other lenders out of $5.3 million by using artificial real estate appraisals and false buyers to secure mortgages for properties that were eventually foreclosed.

Lake Jackson-based attorney Kirk Lawrence Brannan, 64, admitted Monday that he had conspired with others to carry out the scheme from 2005 to 2009. The government alleged Brannan sold 10 beach homes in the Texas coastal communities of Surfside Beach and Freeport to straw buyers at...
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