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Indictment In Real Estate Scheme

LAS VEGAS — A federal grand jury has indicted three people in a massive real estate fraud.

A Henderson realtor, Derrick Phillips, his wife and another person are accused of mail fraud and conspiracy to commit bank fraud in what prosecutors call an 83 million dollar scheme.

The group allegedly bought more than two hundred properties unlawfully, resulting in 30 million dollars in losses to financial institutions.

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