KANSAS CITY, Mo. (AP) -- A northeast Kansas man has pleaded guilty in Missouri to a fraud scheme that prosecutors say forced low-income homeowners into bankruptcy.
U.S. Attorney Beth Phillips in Kansas City says the homeowners were persuaded to take out loans and mortgages that left them with more debt than they could repay.
Sixty-two-year-old Harris Poulikidis of Overland Park, Kan., pleaded guilty Wednesday to a federal charge of causing a person to cross state lines as part of a fraud scheme. He faces up to 10 years in prison plus an order of restitution to six homeowners.
Poulikidis admitted causing a homeowner to take out $70,000 in loans in a single day, some of it from his own company. The money was to be used to refinance a mortgage and for nearly $20,000 of work by Poulikidis' roofing and siding company.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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