https://www.fraudswatch.com/financial-fraud-two-brokers-charged-for-scheme-to-use-simultaneous-loan-applications-to-fraudulently-obtain-home-equity-lines-of-credit/
Real Estate Brokers And Client Charged With Defrauding Banks In ‘Shotgun’ Loan Scheme NEWARK, N.J. – Two real estate brokers and a client were arrested today and charged in connection with a scheme to use bogus information and simultaneous loan applications at multiple banks to fraudulently obtain home equity lines of credit, a practice known as “shotgunning,” U.S. Attorney Paul J. Fishman announced.
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