Percorso:ANSA.it > ANSA English > News

22 probed for mortgage fraud

Novara scam 'earned millions'

12 June, 12:10
22 probed for mortgage fraud (ANSA) - Novara, June 12 - Italian police on Wednesday opened a probe into 22 people suspected of defrauding banks of millions of euros in mortgage loans.

Police in the northwestern city of Novara said the suspects obtained big mortgages for poor people pretending to be better-off thanks to counterfeit salary slips.

They allegedly got experts to supply inflated assessments of properties' values.

The fake buyers soon became insolvent and the banks were left with nothing, police said.

ALL RIGHTS RESERVED © Copyright ANSA