Issaquah man charged in $47 million fraud case

March 26, 2009

NEW — 6:30 p.m. March 26, 2009

An Issaquah man and six other people were arrested today in a bank, wire and mail fraud scheme that authorities said defrauded banks and mortgage lenders of more than $47 million.

Issaquah real estate agent David Sobol, 40, was charged in a 40-count federal indictment with several counts of bank, mail and wire fraud. Authorities said Sobol and others falsified tax records and employed “straw buyers” — unqualified buyers with falsified loan applications — to purchase homes in Seattle and on the Eastside.

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