Man pleads guilty in conspiracy case

April 24, 2003

A Pasadena man pleaded guilty in U.S. District Court in Baltimore yesterday to conspiracy to make false statements, admitting that he used fraudulent documents to get government-backed mortgages for buyers of houses sold by his company.

William E. Dunn Jr., 36, and a partner bought houses, refurbished them and sold them at higher prices that, prosecutors claim, were sometimes inflated. A statement of facts by Assistant U.S. Attorney Bonnie Greenberg listed seven Anne Arundel County properties involved in the deals.

Greenberg said the Federal Housing Administration, which insured the mortgages and paid lenders when buyers defaulted, had lost up to $1.5 million.

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