Woman Accused Of Running $50M Mortgage Fraud, Rent-To-Own Racket Extradited Back To Virginia After Fleeing To Turkey; Most Homes Ended In Foreclosure

In Loudon County, Virginia, the Washington Examiner reports:

• An Ashburn woman who fled the United States amid accusations of running a $50 million mortgage fraud scheme has been extradited back to Virginia to face charges of money laundering and making false statements. Diane Atari, 43, is accused of inflating her clients' credit scores and incomes in order to qualify them for homes they could not afford, causing them to go into foreclosure, according to the Loudoun County Sheriff's Office.

• The Virginia Attorney General's Office and Loudoun authorities say Atari pocketed more than $1 million from the scheme, and the total loss on the fraudulent mortgages is estimated at $50 million.

• Authorities say Atari fled the country after she was indicted in July 2009. She was apprehended in Turkey in October 2009 and had been awaiting extradition in a Turkish prison until she was flown back to the United States on Friday night. Atari made an initial court appearance Tuesday.

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• According to Loudoun authorities, Atari owned and operated two businesses in the county, ACR Consulting Co. and Atari Management Co. Through those, she offered rent-to-own services for people who wanted to buy a home but didn't have enough income or strong enough credit scores to qualify for a mortgage. [...] Atari received commissions when properties sold and fees for the credit repair services, the sheriff's office said. The office said most of the homes ended up in foreclosure.

For the story, see Va. woman accused in $50m mortgage fraud scheme extradited.