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Lawyer gets two years for role in condo-flipping scheme; also has to fork over $17.5 million

Michael Anderson, 46, of Framingham, was sentenced to two years in federal prison for his participation in a scheme to flip condos in Dorchester and Roxbury during the recession, the US Attorney's office reports.

Anderson, who pleaded guilty, will also have to pay more than $11 million in restitution and give up another $7.5 million in ill-gotten gains.

Anderson and others, including speculator Michael David Scott, made money off fees paid by banks for mortgage applications by sham buyers who supplied bogus financial data. When the buyers defaulted, Anderson, Scott and others would repeat the process.

Anderson pleaded guilty to 16 counts of wire fraud, 9 counts of bank fraud and 2 counts of engaging in unlawful monetary transactions.

Federal charges against Anderson.

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computers.

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The file is not there anymore.

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When Michael Scott is your partner in crime, you're bound to succeed:
https://www.youtube.com/watch?v=AZ3v7V2CZu8

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The architects of the scheme are being held accountable. However, once again, the "innocent" buyers who signed phony mortgage applications and loan documents under penalty of perjury, are walking away. The cost of this fraud is borne by you and me.

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