The jury in a mortgage case finally strikes back at fraudulent bankers

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The jury in a mortgage case finally strikes back at fraudulent bankers

The jury in a mortgage case finally strikes back at fraudulent bankers

LA Times-

Given the government’s failure to bring criminal cases against bankers and other Wall Street figures for collapsing the U.S. economy in 2008, it’s been left to the little guy to strike back.

To be precise, one federal jury in Sacramento, which acquitted four allegedly fraudulent mortgage borrowers of criminal charges after hearing testimony that the executives at their banks pulled out all the stops to make fraudulent loans for their personal profit.

We’re a bit late to this story–the verdict was handed up at the end of August, Salon’s Thomas Frank had a good analysis of the case a few weeks ago. But because of its potential significance for mortgage fraud prosecutions going forward, and because it happened in the federal district known for its aggressiveness in pursuing borrowers for mortgage fraud, the case is worth a closer look.

[LA TIMES]

Image: Rich Pedroncelli / AP

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