United States v. Brodie

MEMORANDUM OPINION

HUVELLE, District Judge.

Defendants face criminal charges arising from their alleged participation in schemes to defraud various financial institutions by submitting fraudulent documents in order to receive inflated mortgage proceeds. According to the indictment, while there are differences between the two conspiracies charged, the basic modus operandi is the same. In the case of all properties, the property was flipped, ie., purchased and resold on the same day. In particular, a dilapidated property was initially bought by a buyer who did no repairs to the property, but then…