#commercial-mortgage-fraud

#commercial-mortgage-fraud

The Carmel, Indiana-based regional bank, which became a go-to lender for multifamily landlords across the U.S., announced last quarter that some of its borrowers were under investigation for mortgage fraud, leading to $46.1 million in write-downs. New court filings reveal the bank's exposure to Moshe Silber, who was sentenced to 30 months in prison. In Silber and his co-conspirators scheme, they allegedly used a stolen identity to obtain an inflated $74 million loan on a Cincinnati apartment complex.