Massachusetts Mortgage Fraudster Pleads Guilty To $4.3 Million Scam

Massachusetts Mortgage Fraudster Joseph Bates Pleads Guilty To Operating A $4.3 Million Scam For Almost A Decade

massachusetts mortgage fraudsterA Massachusetts mortgage fraudster admitted in court that he took part in a nearly decade-long mortgage fraud scheme. He also admitted that he defrauded financial institutions of millions of dollars.
Joseph Bates pleaded guilty last week in federal court to one count of conspiracy and three counts of wire fraud. He also confessed to two counts of bank fraud. 
Bates and his cohorts took part in a mortgage fraud scheme that stretched from 2006 through 2015. The scam involved at least two dozen fraudulent loan transactions that caused $4.3 million in losses to lenders.
The Massachusetts Mortgage Fraudster and his cohorts aided in the submission of false borrower information to a number of lenders for properties in Massachusetts.

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