MIDLAND - A second person has plead guilty after being charged in a massive mortgage fraud scheme in Midland.
Michael Duraine Cowan pled guilty on Tuesday as part of a plea deal.
Investigators say between March 2003 and August 2011, Berta McFaddin, Stephen Hilliard, Cynthia Hirsch and Cowan, came up with a same-day property flip scheme.
We’re told Hilliard and Cowan would buy property used for one of their investment companies then sell the same property at a higher price to another investment company.
McFaddin and Hirsch are accused of getting the papers needed to get the properties and bank loans.
McFaddin has already accepted a plea deal after a judge excluded evidence in the case showing the group paid back the banks that were allegedly defrauded.
Trial date for Hilliard and Hirsch is scheduled for September second.