(Source: United States Attorney's Office for the District of Rhode Island) PROVIDENCE, R.I. - An ongoing federal and state law enforcement investigation into alleged mortgage fraud in Rhode Island has resulted to date in a former mortgage originator pleading guilty in federal court to conspiracy to commit bank fraud, and an unlicensed real estate appraiser being charged with allegedly stealing the identity of other appraisers when performing and submitting real estate appraisals to banks as documentation for mortgage loan applications. Franchesco Franco, 34, of Providence, a former mortgage loan originator, pleaded guilty in federal court to conspiracy to commit bank fraud for his...
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