POSTED: Tuesday, October 9, 2012 - 10:30pm
UPDATED: Tuesday, October 9, 2012 - 10:34pm
NBC NATIONAL NEWS — On a year-long crackdown against crime committed against struggling homeowners, U.S. Attorney General Eric Holder says the Distressed Homeowner Initiative filed 285 federal criminal indictments against more than 500 people.
He says they victimized more than 70,000 homeowners with losses over a billion dollars.
Holder said it's the first-ever nationwide effort to target fraud schemes that prey on distressed homeowners who've fallen behind on their payments, leaving them vulnerable to con artists.