7 People Charged with Lansing-Area Mortgage Fraud
Seven people are charged with running a mortgage fraud scheme in the Lansing area for three years.
Eric Williams, Aaron Teachout, Isaac Modert, Mario Giannandrea, Rick Artibee, Dennis Sare and Nicole Burda were arrested Thursday.
Federal prosecutors say they would apply for mortgages, split the money and let the houses go into foreclosure.
Prosecutors believe they stole $1.7 million that way from 2005 through 2007. They could get 30-years in prison if convicted.