The one-count indictment, returned on April 29, named Richard Stromberg, 49, of Wells Drive, Bethel Park, Pennsylvania, as the sole defendant.
According to the indictment, from in and around August of 2002 and continuing until in and around June of 2008, Stromberg knowingly conspired with other individuals known to the grand jury to defraud lenders. Stromberg operated a mortgage broker firm, Great American Home Equity.
The law provides for a maximum total sentence of 30 years in prison, a fine of $1,000,000, or both.
Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.
The Mortgage Fraud Task Force (MFTF) conducted the investigation leading to the indictment in this case.
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