Utah ranks as one of the biggest hot spots in the country for mortgage fraud and several high-profile cases have brought recent attention to the issues. To help combat the problem, state and federal officials announced a new task force that will target mortgage fraud schemes.
Gov. Jon Huntsman and U.S. Attorney Brett Tolman on Thursday introduced the Utah Mortgage Fraud Task Force at a press conference. The task force will combine the efforts of federal, state and local law enforcement agencies, including the Utah County Attorney's Office.
According to the U.S. Department of Justice, the 2007 Mortgage Asset Research Institute's Ninth Periodic Report ranks Utah as fifth in the nation for mortgage fraud behind Florida, California, Michigan and Georgia, up two spots from the state's 2006 ranking of seventh. A 2006 FBI report ranks Utah as one of the top 10 states for mortgage fraud.
Several high-profile fraud cases with links to Utah County have made headlines in recent months. In September, two men, including KUTV sportscaster Dave Fox, entered pleas in abeyance in Provo's Fourth District Court for mortgage-related fraud charges. Investigators said the case involves dozens of people who conspired to inflate the price of real estate they bought, sold and borrowed money on. Last week, the state Department of Commerce announced that Eagle Mountain mayoral candidate Richard Culbertson's real estate license had been revoked for loan fraud.
Many of the mortgage fraud cases that have occurred in Utah stretch into numerous jurisdictions, the news release said. The mortgage fraud task force, which has been active for several months, divides members into nine teams of federal, state and local representatives that will target specific mortgage fraud networks.
• Jeremy Duda can be reached at 344-2561 or jduda@heraldextra.com.
Posted in News on Thursday, October 25, 2007 11:00 pm
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