Mortgage Fraudster Sees Sentence Reduced By 2 Years

Law360 (November 21, 2019, 4:28 PM EST) -- An Illinois federal judge cut a mortgage fraud scheme leader's prison sentence from 12 years to 10 years on Thursday after the Seventh Circuit ordered that he be resentenced in light of miscalculations over how much money he should repay lenders.

U.S. District Judge Charles Norgle ordered Keith Austin to serve 97 concurrent months on bank fraud and justice obstruction charges followed by 24 months on an identity theft charge. The judge also ordered Austin to repay $7.1 million to 12 financial institution lenders that had been affected by the fraud he and nine others carried out at his direction....

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