Lawyer Who Fought Foreclosure Fraud Takes Federal Plea in Straw-Buyer Money-Laundering Conspiracy

A Florida title attorney who is playing a prominent role in the fight against mortgage foreclosure fraud by lenders has taken a plea in a federal case over an alleged mortgage fraud conspiracy. Carol Asbury, 59, could get as much as 20 years in prison and a $250,000 fine when she is sentenced next month, the Palm Beach Post reported. The alleged scheme involved payments to straw buyers to pretend they were purchasing high-priced homes in Wellington. Using fraudulent loan documents, participants obtained loans for more than the purchase price and pocketed the difference, according to prosecutors. In a telephone interview with the ABA Journal, Asbury…