Former Officers of American Mortgage Specialists Inc. Plead Guilty in North Dakota to Conspiracy in $27 Million Fraud Against Bnc National Bank

WASHINGTON, DC – October 22, 2012 – (RealEstateRama) — Two former officers of Arizona-based residential mortgage loan originator American Mortgage Specialists Inc. (AMS) pleaded guilty today for their roles in a $27 million scheme to defraud North Dakota-based BNC National Bank, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division; U.S. Attorney Timothy Q. Purdon of the District of North Dakota; Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); and Steve A. Linick, Inspector General of the Federal Housing Finance Agency Office of Inspector General (FHFA-OIG).