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NY to Indict 13 in $100 Million Mortgage Fraud Case

Thirteen people and an unspecified mortgage origination company are under indictment for a $100 million mortgage fraud scheme, Manhattan District Attorney Robert Morgenthau's office said Wednesday.

Another dozen defendants who also participated in the purported scheme have already waived indictment and pleaded guilty, Morgenthau's office said. The defendants include lawyers, bankers, appraisers and mortgage brokers, according to his office.

Additional details are set to be announced at a news conference later Wednesday.

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  • Diana Olick serves as CNBC's real estate correspondent as well as the editor of the Realty Check section on CNBC.com.

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