Two Illinois men have been charged with defrauding investors out of $800,000 in a modular home building scam, the DailyHerald tells MHProNews.com. Richard Osty of Waukegan and Ronald Moore of Wheaton allegedly told investors $1,500 (sometimes more) would get them a loan for a green modular home, a one dollar plot of land from the city of Chicago, contacts with modular producers, assistance selling the home, and a 10.25 percent return. On Thursday, April 28 a DuPage County grand jury returned a 122-count indictment against Osty for theft and securities fraud, and an 18-count indictment against Moore for securities fraud. The pair apparently had made contacts with none of the above. One of the counts against Osty is for theft over $500,000.
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