Mortgage Lending Called a Ponzi Scheme

     SAN DIEGO (CN) – In a federal RICO complaint, homebuyers claim that Washington Mutual’s, and its successor JP Morgan Chase’s reckless lending to unsophisticated borrowers whom they knew could not afford their mortgages was a “nationwide Ponzi scheme.”

     Armando and Josephine Del Carmen are represented by David St. John of Oxnard.

%d bloggers like this: