Abe Karn, 50, has surrendered to Special Agents in Chicago. Karn had been the subject of an international manhunt, coordinated by the Chicago FBI since March of this year, when he was charged by a Federal Grand Jury in Chicago with violation of the Federal Wire Fraud statute. Karn voluntarily returned to Chicago from Dubai after learning from Internet media accounts that he was wanted by the FBI.
As previously reported by Mortgage Fraud Blog, and according to the indictment, Karn was the owner of Interforest Mortgage Company, located in Palos Heights, Illinois. Karn and three co-defendants are alleged to have knowingly assisted a nominee buyer of a property located in Joliet, in obtaining a fraudulent mortgage on the property.
Karn appeared in U.S. District Court in Chicago late Friday morning, at which time he was formally charged. Karn was released on bond, pending his next scheduled court appearance. If convicted of the charge pending against him, Karn faces a possible sentence of ten (10) years incarceration.
The public is reminded that an indictment is not evidence of guilt and that all defendants in a criminal case are presumed innocent until proven guilty in a court of law.