U.S. Magistrate Paul Warner set trial for Bradley G. Kitchen, David R. Bolick, Steve W. Cloward, Ron K. Clarke, Jeffery D. Garrett and Rebecca A. Hadlock for March 10 before U.S. District Judge Ted Stewart.
Prosecutors allege the six made millions of dollars by overstating the value of homes in the upscale Provo River Bottoms neighborhood, paying straw buyers to take out loans for more than double the worth of properties and pocketing the difference.
In an earlier indictment, the six also were accused of falsely entering sales prices in the Multiple Listing Service, then using the exaggerated figures to support inflated appraisals of other properties in the affluent River Bottoms area.
In all, prosecutors say, the defendants used straw buyers to flip five residences in the neighborhood and kept the difference between the home loan and the actual value of the properties.
The scheme - which pulled in KUTV Channel 2 sports anchor Dave Fox, who has admitted he made a misrepresentation to obtain a loan for one of the homes - eventually caused two mortgage companies to lose $18 million, prosecutors claim.
- Bob Mims
