Mortgage Fraudster Pleads Guilty In $100M Scheme

Law360, New York (July 5, 2012, 7:24 PM EDT) -- Michigan resident Ronnie Edward Duke pled guilty Thursday to a charge connected with his participation in a $100 million mortgage fraud scheme, prosecutors said.

Duke, 45, of Fenton, Mich., was charged with a single count of conspiracy to defraud mortgage lenders using straw purchasers and faked documents. His scheme, which lasted for close to four years, ended in July 2007 when the FBI executed search warrants on properties in metropolitan Detroit and Florida, according to prosecutors.

The scheme involved more than 500 fraudulent loans, over 100...
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