A federal grand jury indicted two real‑estate entrepreneurs, their company and title/closing employees in Cincinnati over an alleged scheme that fraudulently obtained more than $50 million in loans. Prosecutors say the defendants double‑pledged properties and used false closings and loan applications to defraud lenders and investors.

A federal grand jury in the Southern District of Ohio returned indictments charging two real‑estate operators, their investment company and employees of a closing and title service in connection with an alleged multi‑year bank‑fraud conspiracy exceeding $50 million. According to prosecutors, the defendants orchestrated schemes that double‑pledged properties, concealed existing liens and fabricated documents during closings to secure loans and investor capital. The indictment details purported use of false loan applications, sham closings and misstatements to lenders and investors that enabled the illicit transfer of mortgage proceeds. Authorities are pursuing asset forfeiture and civil remedies alongside criminal charges, and investigators say the case reflects the sophisticated blending of conventional real‑estate transactions with deceptive practices to monetize property portfolios. Prosecutors emphasized coordination with financial institutions and title insurance carriers to unwind fraudulently obtained loans and to identify victims. The indictment is part of broader enforcement attention on mortgage and real‑estate fraud that can undermine market integrity and lender confidence.