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20 Puerto Ricans accused of loan scam

Friday, July 20, 2012    

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SAN JUAN, Puerto Rico (AP) — Twenty people including a Puerto Rico basketball player have been accused of making false statements on loan applications to obtain federal funds as part of a US$1.4- million fraud scheme.

The US Attorney's Office says the suspects are accused of recruiting and paying people to apply for US Federal Housing Administration loans using false information and then distributing the proceeds among themselves. Authorities said yesterday that the alleged scheme ran from December 2008 to April 2010.

Among those accused of signing initial loan applications is Lee Arcia Centeno, who played in the island's Superior Basketball League for 15 years.

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