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Four plead guilty in mortgage fraud case
Parish Marketing and Development Corporation (PMDC) and its owners pleaded guilty in U.S. District Court last week to conspiring to commit mortgage fraud and money laundering charges arising from the scheme involving approximately 200 residences and approximately $100 million in loan proceeds. Most of the loans were for houses Parish built in New Prague, Elko New Market and Lonsdale.
PMDC and its owners acknowledged obtaining more than $25 million for the company through the scheme.