Trio of local businessmen face fraud charges - - Jackson, MS

Trio of local businessmen face fraud charges

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JACKSON, MS (WLBT) - A mortgage broker and two associates face a maximum of 100 years in prison for their involvement in an alleged mortgage loan scheme that netted some nine million dollars.

Prosecutors questioned more witnesses Thursday in federal court.

54-year-old Mark Calhoun owns Silver Cross Financial Group in Ridgeland.  J. Larry Kennedy and his son Keith Kennedy operated a loan closing and title business in Jackson.

They each face 38 counts in the federal indictment.

The trio is accused of recruiting people to buy houses as investors then lease the property. The indictment alleges Calhoun falsified applications.

All three men face multiple fraud-related and money laundering charges.

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