David Lam Pleads Guilty

David Lam, the last of Carol Asbury’s partners in a mortgage fraud scheme involving fraudulent appraisals and straw buying pled guilty to charges of conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in relation to a home sales scheme in Wellington’s Versailles community. The scheme led to sales worth more than $15 million in mortgage loans on 12 Versailles homes and more than $5 million in fraudulent loan proceeds.

Carol Asbury, former assistant state attorney and former owner of the website, 4closurefraud.org and three co-defendants have already pled guilty guilty and have been sentenced.

 

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