Guilty Pleas in House Flipping Scam

[flip_it_fast]

Five people involved in the Craig Adams flipping scam plan to plead guilty to charges of conspiracy to commit bank fraud and for making false statements on mortgage loans.

A total of fourteen have been indicted on the case. These are the first to formerly plead guilty.

George Bobka Sr., the father of two other alleged co-conspirators, and Heather Kabobel, who is married to another alleged co-conspirator, already have worked out plea deals with the government that are subject to court approval.
Three more defendants, Lisa Rotolo, Jonathan Glucker and Thomas Brustad, who initially pleaded "not guilty," have scheduled hearings next week before Federal Magistrate Judge Mark Pizzo to change their pleas.

They had a whole system going on. inflated sales, false documents and so on. It was a pretty big scheme. Well, to the tune of about $47 mil!

[homealone]

This is just a shame. No wonder this country is falling apart. It is all because of jerks like these people.

The plea bargins that they recieve sure as hell don't help the situation any either. They should be forced to pay back every single penny that they scammed people out of.

Maybe if the laws were like that there would be less crimes like these committed.

[luv2flip]

This is a shame, there is some type of scam in everything anymore, it makes it hard to trust.