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Nine indicted in $11 million mortgage fraud scheme

A federal grand jury in Kansas City has indicted nine people in an $11 million mortgage fraud scheme that touched properties in half a dozen area communities. Prosecutors alleged Monday that the conspiracy ran from early 2005 to August 2006 and involved more than $11 million in loans on 16 homes in Lee’s Summit, Liberty, Blue Springs, Parkville, Independence and Oak Grove. The lenders did not know that home buyers received more than $2 million from the loan proceeds, the indictment alleged.

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