The suspects are charged with conspiracy to commit bank fraud and wire fraud.
Federal investigators believe one of the suspects created fake mortgage brokerages.
Loans were then made for up to 120 properties.
More arrests are expected.
The suspects are charged with conspiracy to commit bank fraud and wire fraud.
Federal investigators believe one of the suspects created fake mortgage brokerages.
Loans were then made for up to 120 properties.
More arrests are expected.