CHARLESTON, S.C. (AP) - A North Charleston man who owned a real estate company has agreed to plead guilty to charges stemming from a $45 million mortgage fraud scheme.
The Post and Courier of Charleston reports that documents filed in federal court show losses from the scheme orchestrated by Scott Wickersham and others totaled more than $20 million.
Prosecutors say there were 86 fraudulent sales in South Carolina and Georgia between April 2006 and November 2007. They say the scheme involved inflated appraisal values, forged signatures, inflated income and bank account levels for buyers and vacant lots misrepresented as homes.
The agreement says Wickersham will plead to a count each of mail fraud, wire fraud and bank fraud. He faces up to 36 years in prison and a $1.5 million fine.