Mortgage fraud case update - the St. Louis basketball coach, the straw buyers and a case of obvious mortgage fraud

Back in December of 2006, we came across this innocent little article in the St. Louis Post Dispatch about an obvious case of mortgage fraud by a popular high school basketball coach Floyd Irons. Obvious to us, but not to the St. Louis Post Dispatch.

So we emailed the reporter with how the scam works, and HP'ers also sent it in to the FBI. But then time went by, nothing happened, the reporter didn't understand mortgage fraud and wouldn't follow up, and just like Casey Serin and the other million mortgage fraudsters, we figured this would just be another case where crime did pay.

Well, for the first time in the history of this blog, we've got some good news on that front - we got our man, and the guilty are on their way to federal prison, with some hefty fines too. And the FBI in St. Louis should be commended for DOING THEIR F*CKING JOB.

Glad we could help.

One down. Millions to go.

St. Louis Post Dispatch reporter stumbles onto classic mortgage fraud and doesn't realize it

Floyd Irons sentenced to year in prison in mortgage scheme