CLEVELAND, Ohio– Just as Cleveland became the legal proceeding capital of the country, government official say a sharp man with an eye for real estate determined a way to deprive of by deceit and benefit, Uri Gofman the 36-year-old from Beachwood, Ohio has been charged on Tuesday to mastermind the biggest mortgage scam in United States history.
“Uri Gofman, the drawing card of this enterprise, masterminded United States largest mortgage fraud case by signing up family, friends and others to invest in his real estate company,” said Cuyahoga County Prosecutor Bill Mason.
Federal Buru of Investigation’s representatives, Cuyahoga County prosecuting attorney’s and Ohio Attorney General’s Office took over 30 minutes to explain the details that how Uri Gofman took advantage of the crisis.
Prosecuting officers say he would muster in “straw buyers” to acquire foreclosed homes, few other buyers referred as second set of buyers would then use fake documents to get bank loans that authorized them to purchase the home at two times the original purchasing price.
Uri Gofman and his acquaintances then pocket the difference, leaving the loaners holding the bag, he and his acquaintances masterminded the fraud over 453 homes with $44 million in fallacious loans.
Over 200 of 435 homes are located in Ohio State, out of which 74 homes are in Cleveland Heights, according to authorities the investigation are still underway.
Uri Gofman
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