WINSTON-SALEM, N.C. — Nine of 13 people indicted in a mortgagefraud scheme are pleading guilty in U.S. District Court inWinston-Salem.
The nine pleaded guilty Wednesday to charges of conspiracy tocommit loan, mail, wire and bank fraud. That's punishable by up tofive years in federal prison and a $250,000 fine.
Federal indictments charge that High Point-based Oasis Mortgageroutinely provided lenders with false information to get loansapproved that would otherwise be rejected. That allowed the companyto collect fees and commissions.
The remaining four people indicted have upcoming court dates.
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