Actually, this "group" made about $5,000,000 according to my arithmetic.
WMC of California won a suit for about $3,000,000 in losses. However, they were purportedly buying loans from this group through a "local" agent but had no other monitoring system in place in the region. And there was supposedly included in the mix an unsavory internal liaison.
This ONE group was originally charged in the Summer of '98.
Stop and think of the cost of prosecuting, etc. It's huge.
Appraiser Aihe was prosecuted first and (without checking my facts) was fined $178,000, $1,000 per demerit, and his appraisal licensed was revoked. Don't remember jail sentence details.
Apparently the appraiser moved to Florida and he was harboring his brother-in-law the mortgage broker.
Might still have been living there, except one of them was selling a property in Minnesota and when the title was sent to a local Minneapolis area title company for updating, a sharp young lady had remembered the name from the newspaper and called the FBI, who is turn waited outside the Florida property closer's office until the closing was consumated, then picked up the "extra guy" and brought him home to the Anoka County Jail (just outside of Minneapolis). Actually, the jail wasn't his home until he got here!