Thursday, October 17, 2013
Feds Bring Additional Charges Against Perps In Indy Land Bank Scheme
A former member of the Ballard administration responsible for administering Indianapolis' Land Bank program, along with one of his co-conspirators, is facing additional wire fraud charges. The IBJ reports that Reginald Walton, who formerly ran the Land Bank, and David Johnson, executive director of the Indiana Minority AIDS Coalition, face additional charges for allegedly lining their own pockets by requiring qualified buyers of homes held by the Land Bank to pay $5,000 per home instead of the $1,000 price that was supposed to be charged to them. Walton and Johnson allegedly pocketed the $4,000 difference for themselves. Ironically, the victims of their scheme were people the Marion Co. Prosecutor's Office had identified as being the victims of a previous mortgage fraud scheme. U.S. Attorney Joe Hogsett's office previously announced 8 charges of wire fraud, bribery and conspiracy charges against five defendants involved in a series of fraudulent transactions undertaken by the city's Land Bank under Walton's leadership.