Mortgage fraud suspect caught with $1.07M stuffed in boots crossing border

[Ichingcarpenter]

SACRAMENTO, Calif. – A suspect in a nationwide mortgage fraud scheme who fled the country was caught at the Canadian border with $1 million in Swiss bank certificates and $70,000 stuffed in his cowboy boots, authorities said Wednesday.

Christopher J. Warren, 27, also was carrying four ounces of platinum valued at $1,420 an ounce when he was arrested early Wednesday while entering the United States at Buffalo, N.Y.
After he disappeared Feb. 3, Warren was charged with conspiracy, fraud and conducting a continuing financial crime. If convicted, he faces life in prison.

Warren is the second of three fugitives to be caught in the ongoing fraud investigation of Loomis Wealth Solutions, a Roseville, Calif.-based investment company, and several related companies.

Court documents alleged they defrauded investors and mortgage companies of $100 million since 2006. The fraudulent deals involved 500 homes and condominiums in California, Florida, Nevada, Illinois, Colorado and Arizona, according to Internal Revenue Service affidavits.

http://news.yahoo.com/s/ap/20090211/ap_on_re_us/mortgage_scheme

[rcrush]

1. Theres got to be a better way to cross the border if you are a fugitive.

People do it all the time but a guy with a million bucks in his boots cant do it?

[Greyhound]

2. Just one of many. I'm glad they caught this one, but there are thousands of these fuckers

on the loose.

Any mortgage broker affiliated with New Century out of SoCal, is another example.

[DJ13]

3. $100m.. life in prison

Madoff's $50b...... stays in his penthouse.