Please ensure Javascript is enabled for purposes of website accessibility

Bethesda man indicted for alleged Baltimore mortgage fraud

A federal grand jury in Baltimore has indicted a Bethesda man for allegedly running a mortgage scam in which he obtained $3.8 million in loans to buy about three dozen row houses in Baltimore. Alberic Okou Agodio, 30, used the names of immigrants and students as straw purchasers, supplying false financial information to buy the homes, all of which are in default or foreclosure, the indictment says. A co-conspirator who owned the row houses paid Agodio an undisclosed kickback from the proceeds he received from the title company on each transaction, totaling over $1.2 million. Agodio, who had made the down payments and paid closing costs on the properties, reimbursed himself, paid fees to the straw purchasers and kept a substantial commission for himself.