A Marietta, Ga., closing attorney, who has admitted he was a member of a mortgage fraud ring that federal prosecutors say included more than a dozen people, is cooperating with the government in a trial that began this week in U.S. District Court.
On Tuesday, federal prosecutors identified real estate closing attorney James F. Stovall III — formerly a partner in the now-defunct law firm, King, Taylor & Stovall — as the lawyer who finalized as many as 50 fraudulent home sales. The sales were part of a scheme that bilked banks out of at least $20 million in 2000 and 2001, prosecutors said.
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