UPDATE: Mr. Penrod was acquitted of all charges by a federal jury in March 2017. http://www.mortgagefraudblog.com/31172-2/
Gary Bryan Penrod, 52, home builder, Greenwood, Missouri, was charged in a 22-count indictment returned by a federal grand jury in Kansas City, Missouri, in connection with a multi-million dollar mortgage fraud scheme.
The federal indictment alleges that Penrod, doing business as Penrod Homes, Inc., engaged in a scheme to defraud mortgage lenders from May 2005 to June 2007. Penrod and others allegedly recruited buyers to apply for mortgage loans to purchase dozens of homes in Greenwood, Missouri and Peculiar, Missouri. Continue Reading…