Former leader of fraud scheme sentenced - wave3.com-Louisville News, Weather & Sports

Former leader of fraud scheme sentenced

LOUISVILLE, KY (WAVE) – One of the leaders of a notorious fraud scheme in Louisville was sentenced to 24 months in prison and ordered to pay more than $800,000 in restitution.

Stephen Netherton is one of five people convicted of scamming banks out of millions by submitting fake mortgage loan information to by more than a dozen homes.

Target of federal mortgage indictment is sent to jail on old charges

In addition to the mortgage fraud charges, Netherton has also been implicated in a Derby ticket scheme, that lead to the questioning of former UofL Assistant Basketball Coach Steve Masielle.

Copyright 2012 WAVE News. All rights reserved.

WAVE 3 NEWS

Powered by Frankly