Lure of cash attracts investors [Indianapolis]
The lure is easy money. No cash down. Just use your credit rating.
That’s what got Tiamia Reese tangled in the failed 2002 real estate scheme that ruined Florida mortgage lender Oceans Funding and plunged 22 Indianapolis houses into foreclosure.
Now, Reese is set to testify against David Day Sr., Mark Roth and Marshall Welton, Indianapolis real estate men charged with mortgage fraud by Marion County prosecutors.
Many of the illicit real estate deals that have raked Indianapolis rely on a common factor: People like Reese, a former engine plant employee at Navistar International’s Eastside complex, want to get rich.