Federal prosecutors charge Iowa attorney, 4 businessmen with bank fraud in housing scheme

  • by: RYAN J. FOLEY , Associated Press
  • Updated: August 11, 2014 - 12:55 PM

IOWA CITY, Iowa — A Des Moines attorney and four area businessmen deceived banks into selling homes to them at below market rates, then immediately resold the properties for profit without the lenders' knowledge, federal prosecutors say.

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