(Source: commercialappeal.com) A Memphis real estate investor has been charged with defrauding three banks and a mortgage lender in a 14-count indictment announced Thursday, according to the U.S. Attorney for the Western District of Tennessee.

Thomas Boyd, 43, has been charged with eight counts of bank fraud, two counts of mail fraud and four counts of money laundering. Each count of bank fraud carries a penalty of up to 30 years in federal prison and a fine of up to $1 million; each count of mail fraud carries a penalty of up to 20 years and a fine of up to $250,000; and each count of money laundering carries a penalty of up to 10 years and a fine of up to $250,000...