A Clearwater Beach man is accused of bilking lending institutions out of more than $2 million through a mortgage fraud scheme in 2007.
Christopher Alan Stapleton has been indicted on federal charges of conspiracy and two counts of making a false statement on a loan application.
According to the indictment, Stapleton, 40, and unnamed conspirators bilked banks by lying on loan applications, inflating the value of the properties and Stapleton's income.
The properties involved were:
• 547 Lillian Drive, Madiera Beach, which was sold for $520,000, but listed on loan documents as being sold for $700,000.
• 12270 Fourth St. East, Treasure Island, which was sold for $540,000, but represented as $735,000.
• 635 34th Ave. North East, St. Petersburg, which was sold for $1.4 million, but represented as being sold for $2.35 million.
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