Former Nevada Businessman Faces Fraud Charges

LAS VEGAS (AP) — A federal prosecutor says the former owner of a Nevada property firm faces conspiracy and fraud charges in a mortgage fraud scheme involving so-called "straw buyers" and false loan documents.

The U.S. attorney for Nevada, Daniel Bogden, says 38-year-old Brian K. Jackson of Anaheim, Calif., was arrested Tuesday in southern California and is due for arraignment Nov. 20 in U.S. District Court in Las Vegas.

Bogden says a federal grand jury indicted Jackson in October on charges of conspiracy to commit bank fraud, mail fraud and wire fraud.

As head of Unlimited Properties LLC, Jackson is accused of paying people to apply for mortgage loans from 2002 to 2008 using false and fraudulent information.

If convicted, Jackson faces up to 30 years in prison and a $1 million fine.