Authorities say a Glendale woman and Phoenix man have been arrested in connection with a $17 million mortgage fraud scheme.
A federal grand jury in Phoenix indicted 43-year-old Michele Marie Mitchell and 32-year-old Jeremy West Pratt on conspiracy and wire fraud charges.
They both were taken into custody Thursday by the FBI.
Authorities say Mitchell portrayed herself as a mortgage broker, loan officer and real estate investor while Pratt claimed to be president of a company that did construction and remodeling work.
The two allegedly recruited people with good credit scores to act as straw buyers to buy one or more properties as investments.
Between October 2005 and February 2007, Mitchell and Pratt allegedly obtained mortgage financing for 17 properties in the Phoenix metro area and all went into foreclosure.
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