Mortgage Fraud Case Names Daughter of Accused as a Victim
Jun 16, 2011, 08:40
New charges filed against a Washington state resident claim that his daughter is one of his fraud victims.
In 2007, Michael Reeder of Snohomish, Wash., allegedly told his
daughter, a college student at the time, that he had cancer and that
buying her a home would provide security for her future.
He then created fraudulent papers to buy the house in her name,
obtained a $370,500 mortgage and lived in the house for a few months
before stopping payments on the loan, Seattlepi.com reported Monday.
"Semi-dependent on her father for her financial security, and scared
for his health, (she) reluctantly agreed to go forward with his plan,"
an investigator said in court.
Reeder has already been charged with real estate fraud related to $2.6 million in investor losses.
Funds handed to Reeder as investments were spent on a variety of
other expenses, including covering huge gambling losses, prosecutors
Reeder is charged with 29 fraud-related acts, including the house
flipping scheme that has ruined his daughter's credit, the newspaper
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