A mortgage broker from Sun Prairie will spend 51 months in prison for defrauding banks and lenders.
From an FBI news release:
(Brian K.) Bowling pled guilty to engaging in a mortgage fraud scheme using his mortgage brokerage company called Platinum Concepts. Bowling defrauded banks and other mortgage lenders by submitting false loan applications to obtain home loans. The loan applications included inflated income amounts, exaggerated assets, falsified employment information, bogus downpayments, and silent second mortgages. To date, five individuals have pleaded guilty to participating in this scheme.
Tue, Aug 17, 2010
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