 In addition, the lenders were induced to make the loans based on fraudulently inflated appraisals.Some of the properties were "flipped" more than one time.After a five-year investigation, a federal grand jury in 2005 charged Hill and 24 co-defendants, including real estate appraisers, closing attorneys, mortgage brokers, loan officers and straw purchasers, in an expanding indictment that eventually included 187 counts of mail fraud, wire fraud, bank fraud, bank credit fraud, money-laundering, bribery of a bank official and criminal conspiracy.