ATLANTA (AP) - Federal prosecutors in Atlanta say a Georgia man has admitted scheming to acquire millions of dollars in fraudulent mortgages and other loans while he was between prison sentences for other crimes.
Officials say 43-year-old Mark Anthony McBride of East Point pleaded guilty Friday to conspiracy and to a bankruptcy fraud designed to stay foreclosures on dozens of fraudulently obtained properties.
U.S. Attorney David E. Nahmias said the case is disturbing because dozens of banks were damaged, including Omni National Bank, which was closed March 29 by federal regulators.
McBride could receive up to 35 years in prison and a fine of $1.25 million when he is sentenced July 9.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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