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Cuyahoga County Auditor's Home For Sale

POSTED: 12:21 pm EDT September 5, 2008
UPDATED: 2:13 pm EDT September 10, 2008

One of the homes raided in the Cuyahoga County corruption probe is now up for sale.

County Auditor Frank Russo put his Mayfield Village home on the market recently.

Investigators searched county offices and some officials' homes, including Russo's, during raids in July.

A search warrant showed that federal agents were looking into the investments and real estate of Cuyahoga County Auditor Frank Russo.

NewsChannel5 chief investigator Duane Pohlman dug into the real estate records provided by a licensed appraiser, which reveals the home's history.

In May 2006, the home was bought in a sheriff's sale for $355,000 by FSLA Cleveland. Then, less than a year later in April 2007, Russo bought it for $275,000.

An expert in short sales told Pohlman that the lower price Russo paid is not unusual.

At the same time, records show Russo received a conventional loan from Parkview Federal Savings and Loan for $175,000. Three months, later he had another loan from Parkview for $100,000; three months after that, a loan for $200,000.




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