The Columbus office of the Federal Bureau of Investigation announced Thursday that they arrested a Newnan resident on "Wire Fraud and Mail Fraud" charges, stemming from a possible subprime mortgage scheme.
Robert S. Ligon, 45, was taken into custody at the federal courthouse in Columbus, according to a statement released by the bureau. A warrant for his arrest had been issued on a 27-count indictment by a Macon grand jury.
Ligon and others allegedly provided "false, fraudulent and misleading information in residential loan applications," for over $2,000,000 in loans handled by the Mortgage America Corporation in 2002 and 2003, the statement said.The indictment alleges that many of these loans foreclosed, losing about $300,000.
Ligon was released on $25,000 bond, and faces a maximum 30-year sentence per count.
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