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Dublin Man Pleads Guilty In Million Dollar Fraud Scheme
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A Dublin man has pleaded guilty to charges of running a million dollar mortgage fraud scheme.
The FBI say 34-year-old Andrew Hill ran an elaborate scheme where he lied to get mortgage loans to buy several southern Ohio properties. Then, investigators say, he attracted otherwise-unqualified buyers by promising to lie about their income and down payment. All four buyers eventually defaulted on their loans.
All in all, Hill is accused of securing more than $1.2 million in fraudulent loans, which led to more than $600,000 in losses for lenders.
Hill has pleaded guilty to bank fraud and money laundering. The charges carry a combined maximum sentence of 40 years in prison.