Twenty-four people face charges in an identity theft ring where some participants, including a mortgage company owner, were involved in a mortgage fraud scheme on 180 properties.
Philadelphia prosecutors allege that of the group of 24 involved, 10 people led by Allen Smith were charged with aggravated identity theft and bank fraud for using the personal information of hundreds of Commerce Bank, M&T Bank, PNC Bank, and Wachovia Bank customers.
The group used social security numbers and bank account numbers to cash bogus checks and withdraw money from bank customers' accounts. 10 people were also charged with identity fraud and wire fraud for their part in a mortgage scheme.
A group led by real estate investor Mahn Huu Doan, who used the name Bruce Doan, bought 180 properties in Philadelphia by using stolen identities and bogus documents to secure loans. Most of the loans were originated through Encore Mortgage Services.
The owner of Encore Mortgage Services, Vincent Sirolli, is also charged in the case.
By M. Sese
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