Man pleads guilty to theft in Greeley foreclosures

February 11, 2013 @ 4:09 pm

GREELEY, Colo. (AP) - A Pennsylvania man has pleaded guilty to his role in an alleged scam that led to dozens of foreclosures in Greeley, Colo.

Russell Dunlap, of West Grove, pleaded guilty Monday to a theft count. Prosecutors in Weld County say he is scheduled to be sentenced April 8.

Dunlap was one of three people charged after foreclosures in the Owl Ridge development. Timothy Davis, of Lacey, Wash., pleaded guilty last year to a theft charge and was sentenced to three years in prison. Kawika Morelli, of Englewood, Colo., is charged with five theft counts and five counts of forgery. Morelli hasn't entered a plea yet.

Investigators allege the three worked together to artificially inflate home prices between 2006 and 2008, which they say led to dozens of foreclosures.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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Comments (1)


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  • Snout wrote...
    As usual, we prosecute the small taters.
    February 11, 2013 3:50 pm
    And not people like Barney's Frank and others who pushed for mortgages for those who couldn't afford them. Prices went up and then collapsed. Look at your own home value. And then look at all the homes in your neighborhood that were foreclosed upon and sold at some ridiculously low price. Yeah, thanks a lot. We are under water because too many people that didn't belong were allowed on the boat.
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