Feds charge broker with trying to flip Neponset Avenue condos

Elizabeth Reed, a real-estate broker in Norwood, was indicted this week on 40 counts of wire fraud and 15 counts of money laundering for her role in allegedly flipping an apartment building converted to condos at 135 Neponset Ave.

According to a federal "information" announced today, Reed and others used straw buyers and phony financial information to fleece lenders of nearly $5 million after they bought purchased the building in 2005.