Is mortgage fraud still afoot in Englewood?

Back in early August the Feds announced (PDF) the indictment of fourteen individuals charged with engaging in mortgage fraud in the Englewood neighborhood.

The charges were part of Operation Madhouse, an undercover investigation conducted by the FBI, Housing and Urban Development’s Office of Inspector General and the IRS Criminal Investigation Division.

If you look at property listings in the MLS in Englewood in the mid-$300s and sales in the low $300s – and then go look at the properties – you may be left hoping, as I am, that the undercover investigation is ongoing and that further indictments will be forthcoming.

It’s worth noting that an earlier round of Operation Madhouse indictments apparently didn’t deter the individuals involved in the most recent indictments. And that mortgage fraud has been a major factor in Englewood for the past 50 years.

(Visited 391 times, 1 visits today)