Fairborn Man Sentenced In Mortgage Fraud Scam
POSTED: 7:54 am EDT March 27,
2008
FAIRBORN, Ohio -- A Fairborn business man will spend the next decade in prison for his role in a mortgage fraud scam.Randall Davidson, 58, was sentenced in federal court on Wednesday. Prosecutors said Davidson ran a $20 million property-flipping scheme involving more than 300 southwest Ohio homes over a seven year span.Investigators said Davidson and his collaborators defrauded federally insured banks by borrowing more money against properties than they were worth.Davidson pleaded guilty last year to several charges.
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