3 p.m., April 24
Six Charged in Alleged $20.8 Million Mortgage Scam
Six individuals from the San Diego area have been charged by the U.S. attorney's office with wire fraud in an alleged attempt to submit fraudulent mortgage loan applications to lending institutions to induce them to make 36 loans of a total of $20.8 million. According to the indictment, the defendants, beginning in May of 2008, recruited so-called straw buyers, who would not have qualified to buy homes, to submit false loan applications to lenders. The defendants then diverted the funds provided by the lenders to themselves and others. Charged are Brian La Porte, Daniel John Schuetz, Darryl Wallace and Terrence Smith of San Diego; Michael Wickware of Temecula and Roxanne Hempstead of Chula Vista.