A D.C.-area real estate salesman already disciplined for lying about his properties was charged in a conspiracy to commit bank fraud by repeatedly selling properties to unqualified buyers and keeping the proceeds of the sale for himself, then getting the property back and selling it again, according to documents filed in federal court.
From 2004 to 2007, Mark D. Blunt “churned through” at least six properties, including his own million-dollar home, by “tricking” banks into loaning hundreds of thousands of dollars to people who could not afford them, prosecutors said. Blunt and his co-conspirators created forged documents, lied on applications and employed an appraiser to falsely inflate the value of the properties, prosecutors said.
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