Victims or accomplices?
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Re “How a bank fell victim to loan fraud,” Dec. 31
This fraud would not have been possible had Lehman Bros. Bank observed proper checks and balances and hired its own appraisers before funding loans for the properties. According to the article, Lehman Bros. also was contacted by two local real estate agents reporting questionable valuations of area homes, yet it chose to ignore the concerns raised.
Ditto for the straw buyer, Kathy Moore of Utah. She sold the use of her identity and credit to help make one of the deals happen; she was no more a victim than Lehman Bros. and was just as greedy as the other players.
Monique Bryher
Tarzana
The writer is a real estate broker.
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