MANHATTAN (CN) – A federal judge sentenced a man to 10 years in prison for running a “foreclosure rescue” scam that defrauded homeowners, banks and mortgage lenders. Maurice McDowell, 50, ran the scam in Brooklyn and the Bronx from 2003 until 2005. Using straw buyers and forgery, he drained $20 million in equity from more than 80 homes, according to the U.S. Attorney’s Office.
Three of five other defendants in the case have pleaded guilty. Aleksander Lipkin, Marina Dubin and Kerri Clarke await sentencing. Andrea Moore and Michael Irving are scheduled to go to trial Oct. 20.