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Two Indy Residents Indicted By Federal Grand Jury

Last updated on Tuesday, August 18, 2009

(INDIANAPOLIS, IN) - Two former Indianapolis residents have been indicted by a federal grand jury on wire fraud and conspiracy charges.

44-year-old Robert Penn of Naples, Florida and 45-year-old Kevin Lafavers of Lagrange, Kentucky are accused of a mortgage fraud scheme tied to real estate they bought in Indianapolis.

They're accused of using inflated prices to obtain at least 112 loans totaling more than $12 million.

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