Woman pleads guilty to taking out $2M in fake mortgage loans
BOSTON (AP) — A Hingham woman has pleaded guilty to taking out five fraudulent mortgage loans for a single home.
Federal prosecutors say Denise Bruce entered the plea to five counts of bank fraud Wednesday.
Prosecutors say Bruce was able to secure loans for amounts ranging from $325,000 to $487,000 by lying about her income, employment history, assets and debt.
Prosecutors say none of the loans had been paid off, but Bruce filed falsified documents to make it look like they were. They say she collected $2,129,000 through the scheme.
Sentencing is scheduled for Aug. 18.