Bryan "Bo" Barry, 38, Brandon, Mississippi, was indicted on a two count indictment in August 2007 by a federal grand jury. The first count charged him with violating Title 18, United States Code, Section 1343 (wire fraud) and the second count charged him with violating Title 18, United States Code, Section 371 (conspiracy). Barry worked as a mortgage broker with Raintree County Marketing Company, B.M.B. Mortgage Consultants, Inc., and/or B.M.B Financial Services, Inc., who obtained loans and refinanced mortgages for borrowers from various lenders.

The indictment alleges that beginning in 1999, Barry created false and fictitious documents, including false W-2 forms with inflated income, to ensure that mortgage loans would be granted to borrowers, which allowed him to convert some of the proceeds for his own use and benefit.

"Mortgage fraud is not a victimless crime", said Stephen F. Gomez, Assistant Special Agent in Charge of the FBI in Mississippi. "The fraud affects property values, causes property tax increases and makes it harder for legitimate homeowners to sell their property."

Barry had his initial appearance before Magistrate Judge Linda R. Anderson in U.S. District Court in Jackson, Mississippi, on Monday, September 17, 2007.

The case was a joint investigation by FBI Agents, the IRS-Criminal Investigation Division and the United States Postal Inspection Service, assisted by several other local, state and other federal agencies which comprise the Major Financial Crimes Task Force. The Task Force was created in conjunction with the Untied States Attorney's Office in the Southern District of Mississippi to combat complex financial crimes.

Mr. Gomez stressed that the charges upon which the indictment/arrest of Barry are premised are accusations only and there is a presumption of innocence prior to any judicial proceeding.