Detroit Police Officer Faces Federal Wire Fraud Charges
A Detroit police officer faces federal wire and bank fraud charges stemming from a mortgage lending scheme.
The U.S. Attorney's office says in a release that Keith McCloud has been arraigned in federal court in Detroit.
Defense attorney Steven Scharg told The Associated Press Saturday that his client maintains his innocence. McCloud is free on bond and suspended without pay from the police department.
Authorities say other people took part in the scheme which involved loan applications with overstated rental income and bank account funds. The applications were submitted for several houses in Detroit between March 2005 and April 2006. Loan packages totaling more than $300,000 were paid out by lenders.
The fraud originally was investigated by Detroit police internal affairs, which worked with the FBI on the case.
