Six are indicted in mortgage scam A Katy real estate broker remained at large Thursday after his indictment in connection with what federal prosecutors said was a multimillion-dollar mortgage fraud scheme... Arrested Wednesday and freed on $50,000 bail were James Turner, 51; Michael McKelvey, 52; Gerald Scott, 54; and Johnny Hill, 58, all of Houston. In custody pending a Tuesday detention hearing was Cynthia Eneanya, 33, of Katy.
Six are indicted in mortgage scam Copyright 2005 Houston Chronicle A Katy real estate broker remained at large Thursday after his indictment in connection with what federal prosecutors said was a multimillion-dollar mortgage fraud scheme. Peter Gibson Kolo, 49, was among six people named Tuesday in a 24-count indictment accusing them of obtaining mortgages for amounts greater than those received by the seller and pocketing the difference. Arrested Wednesday and freed on $50,000 bail were James Turner, 51; Michael McKelvey, 52; Gerald Scott, 54; and Johnny Hill, 58, all of Houston. In custody pending a Tuesday detention hearing was Cynthia Eneanya, 33, of Katy. The indictment accuses them of paying $5,000 each to home buyers who then defaulted on the mortgages for 12 houses. They are accused of illegally wiring $6.9 million to title companies to close on the purchases. The U.S. Attorney's Office is asking the six to forfeit about $1 million in proceeds from the alleged scheme. |