Sun, Jul 05, 2009

Business

Man guilty of fraud in mortgage scam

Arizona Daily Star
Tucson, Arizona | Published: 11.22.2008
A Phoenix man has been found guilty by a Maricopa County Superior Court jury on three counts of felony fraud and one count of theft in a mortgage scheme, Attorney General Terry Goddard said Friday.
According to court documents, Delanie Belfield Ross, 39, his wife and his brother fraudulently obtained mortgage loans for the purchase of a $3.2 million Paradise Valley home in 1994. To get the loans, they created shell corporations and used fraudulent corporate tax returns.
Because of prior fraud convictions, Ross faces up to 28 years in prison on each count when he is sentenced Dec. 19.
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