“Is it financial terrorism?”
I would say that is on target.
I think so too.
This is interesting.
24 arrested for mortgage fraud schemes (Chicago)
FBI agents have made 24 arrests today in connection with a mortgage fraud investigation they dubbed “Operation Madhouse,” authorities said.....
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In each of the transactions, the defendants were told that a prospective buyer intended to purchase a property and then default on the mortgage when the deal closed. In reality, undercover agents from the FBI and U.S. Department of Housing and Urban Development posed as the buyers and as paralegals who helped move the transactions along....
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The U.S. Attorney’s office has filed mail and/or wire fraud charges against the following defendants:
Mohammed Ali Moallem, 68, Bahidad Javid, 66, Donna Brooks, 41, Louis L. Javell, 36, Aysha M. Arroyo, 32, and Juan Gil, 45, Hakim A. Jaradat, 65, and Robert Goldberg, 88, Babajan Khoshabe, 68, and Sunil Kaushal, 48, all of Chicago;
Abe Karn, 50, and Khalil Qandil, 45, of Oak Lawn;
Hichem Julani, 40, of Palos Park;
Daniel Lietz, 39, of Channahon;
Marwan Atieh, 35, of Tinley Park;
Ruwaida Dabbouseh, 58, of Glen Ellyn;
Khaja Moinuddin, 64, of Bloomingdale;
Mohammed Nasir, 52, of Glendale Heights;
Michael Salem, 63, and Oscar Paredes, 28, of Park Ridge;
Maryam Khan, 29, of Hickory Hills;
James Kotz, 48, of Munster, Ind.;
Siamak Safavi Fard, 50, of East Dundee;
Sunil Kaushal and Noel Parmar, 39, of Skokie.
http://www.chicagobreakingnews.com/2009/03/fbi-makes-arrests-in-mortgage-fraud-probe.html