Five indicted in southwest Idaho mortgage fraud case

POSTED: 08:35 MDT Friday, May 16, 2008

by Associated Press

Article Tools
Printer friendly edition
E-mail this to a friend
RSS Feed
Digg this story
Add to Del.icio.us
Tags - Construction, housing market, mortgage , Zions Bank

Five people have been indicted by a federal grand jury in what prosecutors say is a construction loan and kickback scheme that defrauded a southwestern Idaho bank of $1 million.

Federal prosecutors say Zions First National Bank in Eagle, which employed 2 of the people who were indicted, was defrauded of $1 million between 2004 and 2006, according to the Associated Press.

Prosecutors released the 32-count indictment yesterday, the Idaho Statesman reported.

Prosecutors say the five people conspired to use "straw borrowers" to obtain 49 residential construction loans from the bank totaling $20 million.

Christopher A. Upchurch, a Nampa building contractor, has been charged with bank fraud and payment of commissions for procuring loans.

Baraba L. Cobos, a loan officer at the bank, has been charged with bank fraud.

All five are scheduled to appear in federal court on Wednesday.

1 Comments

Chris is a snake. He always has been. He has such great parents it is a sad thing. I feel sorry for his parents and his children.
Comment By Tammy
Thursday, May 22, 2008 @ 9:32 AM

Leave a comment

Leave this field empty

Name:

Email:

You have characters left.

Commenters, let's maintain a civil discussion here. Please observe the following guidelines:

Do not use profanity or euphemisms for profanity.
Do not personally attack or bait other commenters.
Express your own views; don't just argue for argument's sake.
Sarcasm doesn't work on the Web. Either avoid it or clearly label it so you aren't misinterpreted.
Don't make the same point repetitively.
No spam. Link to a commercial site only if it's relevant to the discussion.
Putting your name on your comments increases their value and credibility. However, if you must conceal your identity, please choose one pseudonym and stick to it. No "sock puppets."