3 Found Guilty Of $100M Las Vegas Mortgage Fraud

Law360, New York (December 16, 2011, 4:43 PM EST) -- A federal jury Thursday convicted a former Las Vegas real estate broker, her husband and another woman of buying more than 200 properties for more than $100 million in an elaborate mortgage fraud that cost federally insured banks more than $24 million.

Following a 37-day trial, Eve Mazzarella, her husband Steven Grimm and Melissa Beecroft were found guilty of multiple counts of conspiracy and fraud. Prosecutors alleged that the schemers obtained properties by having straw buyers take out mortgage loans using bogus information.

“Today's verdict should...
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