An 11-member ring of Boston lawyers, mortgage brokers and others stole identities, inflated home prices and more to swindle lenders out of nearly $2 million, prosecutors say.
[...] Prosecutors allege that between May 2005 and June 2006, the ring bought 21 houses in Boston, Cohasset, Quincy and elsewhere with no money down. All of the homes have since fallen into mortgage default or foreclosure.
The properties include 67 Milton Ave., a Dorchester home that came to authorities’ attention in 2006 after a three-day house party there ended with one teen shot dead. That murder and the home’s questionable ownership led Boston Police to launch “Operation Straw,” a multistate mortgage-fraud probe.
The murder that initiated the mortgage fraud investigation was that of Jonathon Calvin "40-Cal" Jacques, who was shot after a four-day party at one of the fraud houses:
“From Wednesday through Saturday nights, they were partying with lots of loud music and drinking,” said [neighbor] Jerome.
Both Jerome and the direct abutter said that partying had been a problem at the house for several weeks, since a group of three to four unfamiliar teenage males began regularly dropping by the home, which has a cloudy ownership and resident history. But Wednesday’s gathering, which was promoted on the Internet, marked a new level of intensity at the house.
It's not clear whether the the fraudsters or straw buyers themselves threw the party, or whether they just left the house obviously vacant so that the neighborhood guys took advantage of it. Either way, Alan Greenspan, this kill's for you.
Greenspan's Body Count now stands at thirty-one:
Jonathon Calvin "40-Cal" Jacques
Little Boy X
Little Girl X
Rufus Shaw Jr.
Lynn Flint Shaw