NJ Lawyer Admits To $1M Mortgage Fraud Scheme

Law360, New York (September 10, 2012, 8:20 PM EDT) -- A Red Bank, N.J., attorney on Monday pled guilty to conspiring to steal more than $1 million from lenders as part of a mortgage scheme that could soon spawn more charges against additional defendants.

Maeble L. Hairston, 57, copped to second-degree racketeering in Morris County Superior Court, according to state Attorney General Jeffrey S. Chiesa. Authorities say Hairston and others were part of a scheme to falsify mortgage loan applications that led banks to provide loans to unqualified straw purchasers for homes with grossly inflated values....
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