<img src="http://valdosta.sgaonline.com/headlines/noon.gif"/> Ex-broker pleads guilty in mortgage case

Local News

November 6, 2009

ASSOCIATED PRESS Associated Press Fri Nov 06, 2009, 11:51 AM EST

ATLANTA — A former real estate broker has pleaded guilty to charges that he committed mortgage fraud, operated a real estate investment scam and was involved in a check-kiting scheme and bankruptcy fraud.

Edward William Farley of Hoschton entered the plea in federal court on Thursday.

Acting U.S. Attorney Sally Quillian Yates said the 47-year-old Farley defrauded Atlanta-area mortgage lenders through same-day “flips” of properties.

Prosecutors say Farley paid an appraiser to fraudulently inflate the value of each property by $50,000 to $100,000, and recruited often unqualified investor-borrowers to buy them from one of his companies.

Authorities say Farley would buy the properties for substantially less than the amount of the loans after he obtained the loan proceeds.

Text Only

Local News

Eighth Street Middle mixes science with Disney
A grant from Lowe's home improvement stores and a Disney corporation science project competition could put Tift County’s Eighth Street Middle School on the map and in the money.

February 3, 2012 1 Photo
Restrictions on political signs lifted
As of now, Tifton citizens are no longer restricted from putting up campaign signs on their property within a specified time frame, says Tifton Mayor Jamie Cater.
According to the city ordinance on political signs, “Unless specifically allowed pursuant to state law, the sign shall not be displayed earlier than 30 days prior to the commencement of the qualifying period immediately prior to the election it concerns nor shall the sign be displayed earlier than 30 days prior to the call for election immediately prior to the referendum it concerns.”

February 3, 2012
Big yellow school bus stolen in Columbus
February 3, 2012
Ga. House approves revised $18.6B budget
Metro Atlanta would get hundreds of millions dollars in transportation funding while Georgia farmers would get help finding workers they say were driven away by a crackdown on illegal immigrants under an $18.6 billion budget adopted Friday by House lawmakers.

February 3, 2012
Rabid 900-pound cow attacks Georgia farmer
February 3, 2012
A lifelong memory: annual Father- Daughter Dance set for Feb. 9
Fathers who are looking to take their daughters out for a night of fun and a memory that will last a lifetime are invited to attend the Tiftarea YMCA’s 10th annual Father-Daughter Dance.

February 2, 2012 1 Photo
Rural communities balk at public broadband bill
Representatives of rural cities and counties across Georgia told a panel of state senators on Thursday that they had to create the broadband networks private providers refused to bring to their communities.

February 2, 2012
Area author releases new inspirational book
A local author, who now resides in Barney, is inviting the community to attend her book signing event from 11 a.m. to 1 p.m. Saturday at Lion Chasers Christian Bookstore, located at 118 Second St. East, for the release of her religious and inspirational novel, “Lady in Waiting: For the Promises of God.”

February 2, 2012
House expects vote on $18.6B state budget
February 2, 2012
Georgia's groundhog predicts early spring
February 2, 2012
More Local News Headlines