Two people just plead guilty of being involved in a house flipping scam. Zack Dyab, 46, of Golden Valley, and Julia Rozhansky, 46, of Minnetonka plead guilty in court to having gotten lenders to give loans to their family members using false information such as inflated wages and so on. There are at least twenty-four houses involved. The loans were defaulted on.
Quote:
Between 2003 and 2006, Dyab and Rozhansky persuaded lenders to make loans to relatives of Rozhansky by submitting applications with exaggerated income and other false information, according to Dyab's plea agreement. Those homes were sold to buyers who defaulted on their loans.
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They essentially defrauded lenders of $2.5 million dollars. Sentencing has yet to take place.
10-31-2010, 01:42 AM
Two Plead Guilty to House Flipping Scam
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