From News 5 in Phoenix, Arizona:
Four Phoenix-area residents who acted as “straw-buyers” in a foreclosure rescue scheme have agreed to pay $89,000 to settle a civil suit filed by Arizona Attorney General Terry Goddard’s office.
- … Lin Liou, 47, of Chandler; XiaoFen Liu, 33, of Laveen; Liang Zhao, 44, of Chandler, and Qiao Zhu, 37, of Chandler, were “straw buyers” who obtained mortgage loans worth millions of dollars that were used to remove equity from the homes of people facing foreclosure.
