The newest twist in a long-running federal mortgage fraud case was revealed Thursday as a "Bank Bribery Scheme," in which prosecutors said three Bank of America or Wachovia employees pulled in bribes of as much as $55,000.
Federal prosecutors announced the scheme as they unsealed indictments against 10 more defendants in the serpentine case, part of a broader federal crackdown on mortgage fraud.
The nationwide "Operation Stolen Dreams" has involved 1,215 criminal defendants, including 485 arrests, officials said Thursday in Washington. Losses are estimated at more than $2.3 billion.
The FBI is working more than 3,000 mortgage fraud cases, almost twice as many as two years ago. Fraud helped fuel the nation's foreclosure crisis.
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