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Man In Prison After Million Dollar Fraud Scheme

Last updated on Saturday, February 28, 2009

(MCCORDSVILLE) - A mortgage fraud scheme lands a McCordsville man in prison for two years.

45-year-old Frederic bowels helped investors obtain fraudulent loans by submitting false financial documents and loan applications.

The loans boat distressed properties in and around Indianapolis at low prices.

Over a two year period, Bowles bought 18 properties with fake loans totaling more than $1 million.

Besides his prison sentence, Bowles was ordered to pay $166,000 in restitution.

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