Forgive me I have been somewhat busy lately dealing with a cheque washing scam involving $750000 and a major allegation of mortgage fraud involving the alleged fraudulent obtaining of five million dollars from westpac bank. Refer to my earlier blog where I predicted a huge blow out in mortgage fraud in New Zealand.If we are anything like the United States it is going to be truly huge.Over 60 major mortgage lenders have gone out of business in the USA in the past five months. Is that alleged fraudulent borrowers are the least problem.There will be endemic problems within the broking industry,the valuation industry, the legal industry,the real estate industry and within banks themselves.You mark my words.Those of us over 45 have seen this little scenario already once in our lifetime when the sharemarket went tits up in 1987.My job as a defence lawyer will be to prevent this being vented on the small people whom it is easy to prosecute.Hey everyone knows deep down how the system really works.