Brought to you by WBIW News and Network Indiana
Last updated on Saturday, February 28, 2009
(MCCORDSVILLE) - A mortgage fraud scheme lands a McCordsville man in prison for two years.
45-year-old Frederic bowels helped investors obtain fraudulent loans by submitting false financial documents and loan applications.
The loans boat distressed properties in and around Indianapolis at low prices.
Over a two year period, Bowles bought 18 properties with fake loans totaling more than $1 million.
Besides his prison sentence, Bowles was ordered to pay $166,000 in restitution.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com
© Ad-Venture Media, Inc. All Rights Reserved.