Who: Albert V. Innarelli, 46, closing attorney, 21 B Castle Hill Road, Agawam, MA; Michael Bergdoll, 39, Property Seller/Real Estate Broker, 10 Beechwood Drive, Wilbraham, MA; Anthony Matos, 31, Property Seller/Real Estate Broker, 27 Quail Hollow Road, Feeding Hills, MA; Pasquale A. Romeo, 65, Property Seller/Real Estate Broker, 89 Hall Street, Springfield, MA; Wilfred Changasie, 50, Borrower Recruiter, formerly of Springfield, MA; Theodore C. Jarrett Jr., 47, mortgage broker, 37 George Street, Springfield, MA; James E. Smith, 37,mortgage broker, 713 Woodbine Street, Baltimore, MD; Jonathan Frederick, 42, appraiser, 88 Jennie Circle, Agawam, MA; Joseph Sullivan, 27, appraiser, 49 Gillette Circle, Springfield, MA; Mark L. McCarthy, 40, mortgage broker, 19 Westwood Drive, Wilbraham, MA.

What: 63-count indictment charging wire fraud, aiding and abetting, and conspiracy to launder money

Where: Springfield, Massachusetts

When: Indictment unsealed September 23, 2004

How: The indictment alleges that the Real Estate Brokers/Property Sellers purchased distressed properties at low prices and do quick flips at vastly inflated prices to poor, unsophisticated buyers. The appraisals and mortgage applications were falsified and the closing attorney signed off on falsified paperwork at closings.

Recruiters, appraisers and others were given kickbacks for their participation. The scheme involved at least 63 properties, primarily in the city's poorest neighborhoods.

The Real Estate Brokers/Property Sellers often churned the properties, purchasing and reflipping them after foreclosure. Innarelli, the closing attorney, was disbarred earlier this year after pleading guilty to stealing money from real estate clients with respect to second-mortgage transactions. The indictment also alleges that he stole the money slated to pay for the buyers real estate and utility taxes. The scheme involved approximately 200 properties and losses to lenders are estimated at $15,000,000