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Leader of Michigan mortgage fraud ring sentenced


DETROIT (WKZO) -- A man called the mastermind behind one of the largest mortgage fraud rings in the country is heading to prison.

Monday, 45-year-old Ronnie Duke of Fenton was sentenced to 13 years behind bars and ordered to pay nearly 95-million dollars in restitution and a one-million dollar fine.  Federal prosecutors say Duke and his associates arranged loans for nearly 200 homes and took some of the money for themselves.

Buyers of the homes who were part of the ring would make some monthly payments before defaulting, putting nearly 80-percent of the homes in foreclosure.