05/19/10 12:53pm

Converted from an office building to apartments in 2004 by NBC Holdings’ Tracy Suttles and The Randall Davis Company, the Kirby Lofts at 917 Main Downtown went condo a little later. How did that ball get rolling? The federal government’s Financial Fraud Enforcement Task Force suggests one answer: a few “sham sales” from January to October 2006. Indictments charging Veronica Frazier, Robert Veazie, and Felton Greer with several counts of conspiracy and wire fraud were unsealed Friday.

Frazier, 42, of Pearland, allegedly recruited buyers with good credit in 2006 to act as straw borrowers and use false information to apply for home loans, according to the U.S. attorney’s office. She and other unnamed co-conspirators then allegedly used the loan proceeds for themselves and to pay kickbacks to the fake borrowers.