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3 charged with taking part in $12.2 million mortgage scam

Two mortgage brokers and a loan officer surrendered Tuesday in Riverhead to face charges that they were part of a $12.2 million mortgage fraud involving more than three dozen homes, the Suffolk district attorney's office said.

The three defendants were arrested as part of a continuing probe of an alleged scam in which straw buyers used phony pay stubs to obtain bank loans for the purchase...

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