Home / Industry / Banking & Finance / Feds: Integrity of mortgage lending system at stake in Morgan case (access required)

Feds: Integrity of mortgage lending system at stake in Morgan case (access required)

BUFFALO — Federal authorities accused two Morgan Management executives and two business associates of fraudulently obtaining $167.5 million in mortgage loans which, the special agent-in-charge of the FBI's Buffalo Division said, is akin to stealing money. "Fraud for profit aims to misuse the mortgage lending process to steal cash," Gary Loeffert of the FBI said. Kevin Morgan, 42 ...

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