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The second Solon case announced today by Cuyahoga County (OH) Prosecutor Bill Mason (pictured left) involves Karl Whittingham, 30, of Cleveland. He bought a new house at 6749 Winston Lane for $725,000 in September 2005 by submitting false loan applications for a $500,000 first mortgage loan from Argent Mortgage Company, LLC, and a $188.750 second mortgage loan from GB Home Equity, LLC. He overstated his income by $100,000 and his bank accounts by $16,000 to these lenders. Whittingham also engaged in a scheme regarding the $36,400 down payment.

No down payment was actually made because third parties engineered a scheme to deceive the lenders. Whittingham and the following were each indicted on ten or more theft and forgery related charges: Stephen Holman of Buckeye Lending, a licensed mortgage broker; Buckeye Lending, Inc.; and Theodore Caulkins, owner of and licensed broker at Buckeye Lending. Each of these felonies range in prison time from one to five years. The house is now in foreclosure and is now vacant.

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