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MIDVALE -- One of two Midvale residents accused of running a multi-million dollar mortgage fraud is out of jail.
Brendan and Olivia Cassity had their first court appearance Tuesday. It was a brief appearance and a quick decision from the judge.
Brendan's bail was reduced from $500,000 to $200,000; his wife was released.
Both are charged with 15 counts of communications fraud, one count of racketeering and two counts of money laundering.
Creighton Horton with the Utah Attorney General's Office didn't have much else to say, but the prosecution says Brendan and Olivia Cassity used their company, Utah Financial, to skim millions off the top of inflated loans.
Attorneys for the couple say they have a hard time understanding the state's case because they claim all the mortgages in question are still current.
The case will return to court on April 28.
E-mail: pmchardy@ksl.com
