According to the grand jury indictment, a network of people conspired to bilk millions from Zions Bank through an elaborate mortgage scheme beginning in March of 2005. According to the Indictment, five players were involved:

- Christopher Upchurch, a general contractor who owned Inline Construction.

- Barbara Cobos, a loan officer with Zions Bank.

- Nicholas Coats, a real estate agent.

- Max Reich, whose profession is not listed.

- Nicholas Gossi, a loan officer at Best Mortgage Company.

The scheme, allegedly, worked like this:

Upchurch -- the supposed ringleader -- got help securing fraudulent residential construction loans from bank employee Cobos. In turn, she allegedly got $125,000 in kickbacks.

Meanwhile, Coats, Reich and Gossi are accused of getting finder fees from Upchurch for locating straw borrowers.

Court documents say Upchurch racked up $20 million in loans from Zions Bank, under the guise of building 49 new homes.

According to the grand jury, the straw borrowers used to obtain that money were never told they could be liable for paying it back.

In the end, Zions was able to recover much of the money earmarked for the fraudulent loans, but still lost more than a million dollars.

Meanwhile, those named in the indictment face the following charges:

Among other things, Upchurch and Cobos are charged with bank fraud.

Coats and Reich are charged with theft from a financial institution, but the amount listed is less than a thousand dollars each.

Gossi is charged with bank fraud and mail fraud.