Lawyer convicted in $50M Las Vegas mortgage scheme
Posted Apr 15, 2013 4:01 PM CST
By Martha Neil
A lawyer working as a real estate agent has been convicted in a $50 million Las Vegas mortgage fraud and faces as much as 30 years or more in prison when he is sentenced this summer.
David Mark, 37, of New Orleans, La., was convicted of bank fraud, mail fraud and conspiracy to commit bank, wire and mail fraud, KLAS reports. He plans to appeal the verdict.
Lenders suffered some $50 million in losses in the scheme, which allegedly involved straw buyers "purchasing" properties on which they did not intend to make payments.