CONCORD, N.H. -- Eight people have been indicted in a mortgage fraud scheme that allegedly defrauded the Dime Savings Bank of New York out of more than $13 million, state and federal officials said Wednesday.
The eight, all principals in a New Hampshire construction company or licensed real estate agents, allegedly conspired to defraud the bank by using falsified applications to get mortgage loans for purchasers of homes at a new development.
Ninety of the 190 homes at the development, in Milford, N.H., have hidden second mortgages as a result of the scheme, officials said.
