- Associated Press - Thursday, March 6, 2014

PHILADELPHIA (AP) - A suburban Philadelphia man has been sentenced to five years in federal prison for his role in a $14 million mortgage fraud scheme that targeted dozens of homeowners facing foreclosure.

Forty-nine-year-old Edward McCusker of Chesterbrook was sentenced Thursday to five years in prison for wire and mail fraud in connection with the scamming of 35 homeowners during the last decade’s housing bubble.

His wife Jacqueline McCusker was sentenced Thursday to four years of probation. Both were ordered to repay $400,000 in restitution.

Three other people also were charged in the scheme.

Authorities say the group swindled distressed homeowners, falsely promising that they could save their homes. Instead, they obtained fraudulent mortgages and took whatever equity was left in the homes for their personal gain.



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