FBI Alleges Homes Obtained by Fraud
A Tustin-area man was arrested on a federal indictment accusing him of making false statements on loan applications to obtain $2.5 million in mortgages to buy four luxury Orange County homes, the FBI said Wednesday.
Frank O. Eckard, 42, formerly of San Clemente, will be arraigned on 10 counts Tuesday in U.S. District Court in Santa Ana, the Federal Bureau of Investigation said.
The indictment, issued May 17, accuses Eckard of using false tax returns significantly overstating his income and false claims of investment accounts to obtain the loans from four banks between 1991 and 1994.
The loans were secured by two houses in Santa Ana and one each in San Clemente and Tustin.
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