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SALT LAKE CITY -- The Utah Attorney General's Office says a Utah company was running a lucrative mortgage fraud scheme.
Police raided Utah Financial Inc. in December of last year. CEO Brendan Tyler Cassity and his wife, Olivia, now face 15 counts of communications fraud, one count of racketeering and two counts of money laundering.
The Cassitys are accused of preparing their own highly-inflated appraisals of properties using the name of a licensed appraiser.
The attorney general's office claims the Cassitys used straw buyers to obtain loans at the inflated values and skimmed several million dollars in equity from the properties. [Click here to read more from the attorney general's office]
