Grand jury indicts California man for interferring with foreclosures

A California man has been accused of running a scheme to prevent banks from foreclosing on properties.

Walter Bruce Harrell of Montara, Calif., has been indicted by a federal grand jury on charges of bankruptcy fraud and making false statements in bankruptcy proceedings, the Office of the Special Inspector General of the Troubled Asset Relief Program and the U.S. Attorney for the Northern District of California said Friday. Many of the creditors that were prevented from foreclosing were banks that had received Tarp funds, the special IG said.