CINCINNATI (AP) -- An Ohio real estate agent has pleaded not guilty to charges that he fraudulently obtained $6.9 million in loans on properties by persuading clients to buy houses at over-inflated prices.
Forty-four-year-old Rodney Riddle, of Cincinnati, pleaded not guilty Thursday to two counts each of mail fraud and wire fraud and one bank fraud count in federal court in Cincinnati.
He declined comment Thursday night, saying he had not had time to consult his attorney.
The indictment alleges Riddle ran a scheme from about 2001 to 2006 to defraud lenders by submitting loan application paperwork with false statements about the income and amount of assets held by prospective buyers.
Prosecutors say each count is punishable by up to 30 years in prison and a fine of up to $1 million.