((HT: Dallas Morning News/Noll, MyFoxDFW))
Former Dallas Cowboys linebacker Eugene "The Hitting Machine" Lockhart ((pictured, thanks Mark Woo/Dallas Morning News)) was arrested by FBI agents at his Carrollton home Thursday morning after being indicted on mortgage fraud charges, the U.S. Attorney's office said.
Lockhart, 48, and eight others were indicted by a federal grand jury on various charges, including conspiracy, bank fraud and wire fraud. The alleged scheme involved approximately 54 fraudulent residential property loan closings resulting in the funding of $20.5 million in fraudulent loans.
Here is a copy of the indictment...
The scheme started in February 2001 and involved obtaining loans to buy distressed or pre-forclosure properties sold at inflated prices. The defendants kept the surplus loan proceeds, according to the federal indictment.
Authorities allege the group recruited "straw" buyers and purchasers and doctored financial statements so the lender would approve the loans.
"The people involved are escrow officers, appraisers, title companies ... the gamut of real estate," said FBI spokesman Mark White. "That's usually how these things work. It takes somebody in every single area to get this thing to work."
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