2 N.C. men sentenced in $6M mortgage fraud scam
WILMINGTON (AP) — A federal judge has sentenced two North Carolina men for their roles in a $6 million mortgage fraud scam.
The Star-News of Wilmington reports Wednesday that Daniel Rooks was sentenced to 7 1/4 years in prison, while Alford Rooks received five years of probation. Both Whiteville men pleaded guilty June 1 to conspiracy charges.
Federal prosecutors say Daniel Rooks put trailers on land he bought and subdivided and sold to poor people, lying about the costs. Stanley Williams Jr., a mortgage broker, then falsified loan applications.
Prosecutors said when buyers foreclosed, Williams bought the properties back, and the scam started anew.
Williams and two others — an appraiser and a paralegal — were sentenced in October for their roles in the six-year scam.
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