A Canton real-estate broker was indicted last week on eight counts of wire fraud for alleged fraudulent sales of condos in two buildings he owned in Dorchester, the US Attorney's office reports.
Prince Charles Eweka allegedly converted multi-family buildings at 50 Bradshaw St. and 79 Topliff St., then used a series of seven straw buyers to defraud mortgage firms out of $548,000 between 2003 and 2007, according to an indictment unsealed last week in US District Court in Boston.
Eweka is the latest in a string of brokers indicted for their activity in Dorchester in the middle part of the decade. Earlier this month, several people were sentenced to federal prison for their roles in condo-flipping fraud cases.
In August, another broker, Michael David Scott, was indicted on 62 counts of fraud and money laundering for his role in an alleged property flipping scheme. In September, a Framingham lawywer was also indicted, on charges he worked with Scott.
As in the other cases, the government charges Eweka recruited a series of straw buyers who would submit falsified loan documents to out-of-state mortgage lenders for units allegedly selling at higher prices than they were worth. Eweka allegedly put up the money for their down payments, paid them for their trouble, then pocketed the difference between the loan amount and the actual value of the units. The straw buyers would then default on their loans, leaving the lenders hanging, the feds charge.