A real estate agent operating out of the US state of Ohio has been indicted on charges of fraud.

Stanley Motyka allegedly used fake letters of credit (L/Cs) as well as a range of other forged documents in his efforts to obtain loans for would-be customers.

Several charges

Motyka had been working out of a Copley Township real estate agency and has been indicted on charges of falsifying mortgage documents to help unqualified buyers get loans.

He has been charged with four counts of mail fraud, three counts of making false statements to a financial institution and one count of bank fraud.

Motyka faces a further charge of fraud relating to the Department of Housing and Urban Development, the US department that aims to increase access to affordable housing.

Bogus documents

The real estate agent is accused of providing false official forms, as well as faked L/Cs and forged documents to obtain loans for Cleveland homebuyers.

Motyka faces a maximum sentence of 30 years in prison and a US$1 million fine if convicted of the charges of false statements and bank fraud.

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