Georgia is well represented within a nationwide federal operation targeting mortgage fraud.
Underway since March, federal justice officials call “Operation Stolen Dreams” the largest ever combined enforcement effort to attack mortgage fraud.
Thus-far, officials say the operation has tied more than 1,200 criminal defendants to over $2 billion in financial losses nationwide.
In Georgia, the cases span the state—from Atlanta to Cumming, to Hoschton, to the coast.
Assistant U.S. Attorney James Durham with the Southern District of Georgia says one of their recent cases involved a former University of Georgia football player—Arthur Marshall.
“The total loss amount involved was $3.6 million dollars and it involved attempts to get loans based on falsified and fabricated records.”
Durham says investigations led by federal agencies have been bolstered in many cases by help from state and local enforcement.
The U.S. attorney for Georgia’s Northern District says they’ve uncovered mortgage fraud in many different forms—involving closing attorneys, brokers, appraisers, and others.