Jury Selection Begins in Mortgage Fraud Trial

Jury selection began today in the federal criminal trial against eleven men involved an in alleged mortgage fraud scheme.

Eric Farrington and 10 others are charged with wire fraud, bank fraud, money laundering, and other charges. In 2005 Farrington was the focus of a FOX 4 investigation when several homes on Winterwood Lane in north Dallas were purchased at inflated prices. No one moved in to the homes or made mortgage payments and the banks foreclosed.

The U.S. government accuses Farrington of recruiting investors and helping them get inflated mortgage loans, then paying the sellers kickbacks, and pocketing the proceeds.

One of the defendants named in the federal indictment, Marcus Parker has already pleaded guilty.

If convicted, Farrington and the others could face prison sentences of up to 600 years and millions of dollars in fines and restitution.

• Click here to see the federal indictment
• Click here to see the FBI’s press release from 6/18/2008
• Click here to see Marcus Parker’s Plea Agreement and Factual Resume