Second Mortgage Lead
California $9M Lender Fraud Plea
An Orange County man who ran Mortgage Capital Resource Corporation (MCR) has pleaded guilty to federal wire fraud and money laundering charges related to a scheme that cost lenders more than $9 million.
Kenneth Christopher Ketner, 57, of Newport Beach, pleaded guilty to the two felony counts late Tuesday in federal court in Santa Ana.
The second defendant in the case, attorney Allen Johnson, 59, also of Newport Beach, pleaded guilty last year to wire fraud and money laundering for participating in Ketners scheme.
Drawing on lines of credit from commercial lenders, Ketner and MCR purported to fund home loans for borrowers throughout the country.
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Women's business group provides networking, advice
Giggling and chatting, the women who pulled their chairs into a circle Tuesday morning could have been brought together for any of a million reasons. But with laps filled with plates of fresh fruit and purses full of photocopies, this particular group had only one purpose in mind. These ladies meant business. The Pittsboro Business Women's Group meets twice a month, and its members come from all over Chatham County and surrounding areas to make contacts with their fellow businesswomen. At Tuesday morning's meeting at the Chatham Mortgage office in downtown, more than a dozen women showed up, and each had a chance to promote her business and ask questions about others'. "All right ladies, time for your 20-second commercial," group leader Mary Foster announced. "This is good practice to get what we call your 'elevator commercial.' We want to know what you are looking for and what your business is all about." Each member of the group stood up and explained her company.