Area man pleads guilty to mortgage fraud scheme - 2004-03-23
A St. Louis man who headed a multi-million dollar mortgage fraud scheme has pleaded guilty to diffferent fraud charges, said U.S. Attorney Ray Gruender's office Monday.

Tandy Hairston, 38, of St. Louis, pleaded guilty to four felony counts of wire fraud and one felony count of conspiracy to commit mail and wire fraud. Each count carries a maximum penalty of five years in prison and/or a fine up to $250,000. He is scheduled to be sentenced June 8.
Read the full story at St. Louis Business Jou

A Russian reform hits home: mortgages - 2004-03-23
The hopes and prayers of the Zherebtsov family are bound up in a new apartment that has not yet been constructed.

Family members are cobbling together 30 percent of the expected $80,000 price tag, but the rest will be paid by a mortgage - a radical concept for most Russians. Four years ago, only 7 percent of the population even knew the word.
Read the full story at Christian Science Monitor