As confirmed by federal prosecutors in Philadelphia as many as 5 people have been indicted on charges of involvement in a major $14.6 Million mortgage-fraud. The accused have been slapped with charges of conspiracy to commit "mail and wire fraud, mail and write fraud and money laundering".

Currently facing charges are owners of Axxium Mortgage Inc. Edward McCusker and John Alford Bariana, Jacqueline, Mr. McCusker's wife, and owners of Doylestown, Pa., law firm Bennett & Doherty PC, Jeffrey A. Bennett and Stephen G. Doherty. Except for Mr. Bariana who lives in New Jersey, all the accused are residents of Pennsylvania. Also, Mr. Doherty has been charged with bankruptcy fraud as well.

According to the indictment filed, the accused targeted struggling homeowners who were facing imminent foreclosures, falsely promising them to help them save their homes, and on the way, obtaining dozens of fraudulent mortgages.

"Unfortunately, the downturn in the economy has given rise to unscrupulous predators looking to cash in on the misfortune of others. This sort of fraudulent activity not only preys on desperate homeowners, it weakens our financial institutions, destroys neighborhoods by leaving properties abandoned and devalues the homes of innocent neighbors", said U. S. Attorney Michael Levy.

None of the defendants, their lawyers or company representatives has so far commented on the development.