Ex-Mayor Admits To Mortgage Crisis Corruption

Law360, New York (November 19, 2012, 5:37 PM EST) -- The former mayor of a financially distressed Rhode Island city admitted to federal corruption charges Monday after prosecutors said he and and a crony schemed to reap profits from city coffers by skipping competitive bids and surreptitiously boarding up foreclosed homes.

Charles D. Moreau, who stepped down as mayor of Central Falls in September, and his friend, political donor and business associate Michael G. Bouthillette, both admitted to corruption in Providence, R.I.

As the foreclosure crisis gripped the country in early 2008, Moreau told city staff...
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