Mortgage fraud investigation targets Cleveland

CLEVELAND - Federal and state prosecutors are poised to announce the results of a national mortgage fraud sweep that led to the arrest of two dozen suspects in Cleveland and Northeast Ohio.

"Operation Stolen Dreams" targeted mortgage fraud in cities across the country over the last three months.

According to sources, the cases involved more than 80 homes in Cleveland, Shaker Heights, Pepper Pike, Warrensville Heights, South Russell, Lorain and Elyria.

"The weapons in these cases are not guns and knives, they are pens and computers. But the destruction and injury caused by mortgage fraud in our neighborhoods and in our communities is just as real," said U.S. Attorney Steven M. Dettelbach.

Also on Thursday, Ohio Attorney General Richard Cordray announced his office was filing a lawsuit against the Brook Park-based JLS & Associates Financial Services.

"It's predatory conduct," said Cordray.

"They want your money up front, they don't deliver on their promises and we think a lot of it is a scam."