CHARLESTON, W.Va. -- A South Weber man was arrested Monday for his suspected involvement in a multimillion-dollar mortgage fraud scheme linked to properties at a West Virginia subdivision.
Raymond Paul Morris, 51, was arrested on an 18-count indictment filed last week containing wire fraud, bank fraud and conspiracy charges. According to the indictment, Morris was involved in a mortgage fraud scheme along with Michael Hurd, 37, of Utah, and Deborah Joyce, 38, of Hurricane, W.Va.
The scheme involved illegal "flipping" of properties in a West Virginia subdivision to out-of-state borrowers at inflated prices. Morris, Hurd and others closed loans on six properties as part of the fraud scheme, according to the U.S. Attorney's Office.
If convicted, Morris faces up to 540 years in prison and a $1 million fine, and Hurd faces up to 60 years in prison and a $2 million fine.