Ten people, three of them police officers, were indicted on charges of conspiracy, wire fraud and money laundering in connection with a mortgage fraud scheme involving 43 properties in Indianapolis (34), Marion (8) and Fairmont (1), Indiana.

Those charged were:

Joseph Britton, 45, Indianapolis, Indiana

Robert Carter, 34, Marion, Indiana (Marion Police Officer)

Pamela Martinez, 35, Minneapolis, Minnesota

James McClung, 34, Indianapolis, Indiana (Indianapolis Police Officer - borrower on 13 properties)

Valerie McNair, 43, Marion, Indiana

Kenneth McKinney, 38, Indianapolis, Indiana

Michael C. Smith, 44, Indianapolis, Indiana (Indianapolis Police Officer)

Mark Speckman, 46, Indianapolis, Indiana

Darral Stanley, 40, Marion, Indiana (worked for American Savings Mortgage, Indianapolis, the mortgage brokerage alleged to have originated the loans).

Patricia Wilcox-McClung, 37, Kokomo, Indiana

The participants are alleged to have purchased dilapidated homes at value and flipped them at higher prices based on inflated appraisals. Other defendants acted as purchasers and borrowers and misinformation would be submitted to support the loan decision. The borrower would default on the loan which would be foreclosed. The defendants split the excess loan proceeds.