KANSAS CITY, Mo. -- Seven Kansas City residents have been indicted by a federal grand jury for an alleged mortgage fraud scheme.

Authorities said the scheme involved the planned purchase of a $600,000 house on Clearwater Pointe in Parkville, Mo.

According to the federal indictment, the defendants planned to purchase the property for $605,000 and then sell it immediately at a profit for everyone in the group to share.

The U.S. Attorney for the Western District of Missouri said loan applications contained false financial information and were submitted to banks and mortgage lenders.

One of the defendants, who was employed as a bank teller at Mazuma Bank, allegedly manipulated records by transferring funds from other accounts into one of the co-defendant's accounts in order to falsely reflect a substantial saving balance.

Charged in the case were Lloyd Claerhout, Scott Schirmer, William Wonder III, David Twitty, Cameron Bennett, Jennifer Hernandez, and Katherine Sartain all of Kansas City. They were also charged with bank fraud.

The case is being prosecuted by Assistant U.S. Attorney David Ketchmark and was investigated by the FBI.