A federal jury on Wednesday found Phillip E. Hill Sr., the ringleader of the largest mortgage fraud scheme ever prosecuted in Georgia, guilty of 168 counts of fraud and money laundering. Nine accomplices were also convicted. Prosecutors argued that Hill and the others were involved in three interlocking mortgage fraud schemes based on Atlanta real estate sales that bilked lenders out of over $40 million. Judge Thomas W. Thrash Jr. said Hill “is looking at spending the rest of his life in prison.”
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Posted on Friday, March 16th, 2007. Filed under: Business Law, Law Misc
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