Someone Finally Goes to Jail for Mortgage Fraud

and it’s the wrong guy.

About a month ago, we referenced an article in Rolling Stone pointing out that although our current economic crisis was rooted in extensive criminal activity, yet none of the criminals had been arrested or seemed likely to stand trial for their crimes.

Soon thereafter, we learned how easy Countrywide Financial’s Angelo Mozilo was getting off, and again commentators like Abigail Field at Daily Finance lamented the fact that it seemed no one was going to pay the price for the massive frauds perpetrated.

It turns out we were wrong.  While the big fish were (and are) swimming free, the government spent months building a case against Charlie Engle, a guy who apparently misstated his income on two stated income loans back in 2005 and 2006.  Engle is now serving a 21-month prison sentence.