Local mortgage broker Lance Persac was indicted in 2005 for mortgage fraud (Mortgage Fraud Blog story). He pled guilty in August of 2008 and was ordered to pay a fine of $3,049,969.12. Copy of plea. He currently awaits sentencing.
What is interesting about this deal is who his lawyers were: Joey Langston and Ed Peters. When the Scruggs scandal broke, they withdrew from the case and Stephen Farese represented Mr. Persac.