Pair convicted in Phoenix mortgage fraud scam
A Phoenix couple has been convicted for their part in a cash-back,
mortgage fraud scam that resulted in $6.6 million in losses and the
foreclosure of 25 Valley homes.
Samuel T. Dobos, 30, and Georgiana Dobos, 28 were each recently
sentenced to 27 months in prison for their roles in the scheme, which
involved straw buyers. The couple has also been ordered to pay
$220,000 in restitution.
Mortgage fraud during the boom worked to inflate home prices and then
drive up foreclosures during the downturn. Arizona is now among the
top five states nationally for mortgage fraud.
Arizona regulators and prosecutors formed a state mortgage fraud task
force in 2007.
“The Dobos’ …
