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Ex-chamber chief pleads guilty to fraud over loan

By Nelson Daranciang

POSTED: 01:30 a.m. HST, Jan 04, 2013

~~<p>Former Filipino Chamber of Commerce President Stephen Callo pleaded guilty in U.S. District Court on Thursday to wire fraud for lying about his income to secure a $553,501 loan to buy a Maka&shy;kilo home in 2006.</p>
<p>In exchange for the guilty plea, the federal prosecutor promised to drop 13 other charges against Callo for his alleged participation in the largest mortgage fraud scheme uncovered in Hawaii.</p>
~~

Former Filipino Chamber of Commerce President Stephen Callo pleaded guilty in U.S. District Court on Thursday to wire fraud for lying about his income to secure a $553,501 loan to buy a Maka­kilo home in 2006.

In exchange for the guilty plea, the federal prosecutor promised to drop 13 other charges against Callo for his alleged participation in the largest mortgage fraud scheme uncovered in Hawaii. Login for more...



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