Three Plead Guilty in Kansas City-area Mortgage Scam

By: AP
By: AP

KANSAS CITY, Mo. (AP) _ Three Kansas City-area men have pleaded
guilty in a $12.6 million mortgage scam.

Stefan M. Guerra of Lee's Summit, Mo., and Olathe, Kan., residents Daryle Edwards and Leon T. Jones admitted to the scheme Tuesday. The scam involved 25 residential properties in Kansas City suburbs.

Prosecutors say the trio were among more than a dozen conspirators involved in defrauding mortgage lenders from June 2005 to May 2007.

The homes were bought at inflated prices with loans obtained by providing false information to lenders. Prosecutors say buyers got
about $2.3 million without the lenders' knowledge.

Guerra was a mortgage loan officer at Midwest Equity Mortgage who was involved in at least 12 deals. Jones and Edwards both bought homes.


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