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Wire Fraud

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Florida man pleads guilty to $3 million mortgage scheme 

Jan 18, 2012By

A Florida real estate agent faces jail time after admitting he played a role in a multimillion-dollar mortgage scheme that shook up the Versailles development in Wellington, Fla.

David Lam, 42, is one of nine people charged in the highly publicized case.

Lam pleaded guilty this week to four counts of conspiracy to commit mail and wire fraud, as well as three counts of conspiracy to commit money laundering.