Mortgage Fraud Blog

Friday, August 13, 2010

Grand Jury Indicts Man Awaiting Trial for Murder on Mortgage Fraud Charges

William M. Silvi, 43, Colorado was indicted for wire fraud , mail fraud, and money laundering, along with a forfeiture indictment, related to a mortgage fraud scheme.

Silvi is currently in custody in New Jersey pending trial for murder, but lived in Colorado Springs during the time of the offenses charged in the indictment. Arrangements are...

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Man Sued for Allegedly Providing Fraudulent Foreclosure-Rescue Legal Services

Sherron L. Lewis, Jr., 54, Denver, Colorado, has been sued for allegedly defrauding homeowners in foreclosure, including the elderly and disabled, by collecting upfront fees in exchange for fraudulent legal services.

Lewis, Jr. allegedly attracted homeowners facing foreclosure through his Web site and mail advertising and informed consumers that...

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Thursday, August 12, 2010

Million Dollar Judgment Issued Against Mortgage Brokerage

Access Mortgage Company, Inc. (Access Mortgage), Seattle, Washington, a mortgage brokerage, has been order by an Ada County, Idaho, judge to pay more than $1 million in penalties and restitution for violating Idaho laws relating to mortgage and financial fraud.

The district judge found that Access Mortgage had engaged in numerous violations of...

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Former Bank VP Admits Fraud

Jeffrey Gonsiewski, 56, Wood Dale, Illinois, formerly vice president of the loan department at First Security Trust and Savings Bank, Elmwood Park, Illinois, admitted that he altered loan documents to make it appear that customers' payments were current when he knew they were actually overdue, which prevented the bank from taking timely action...

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Wednesday, August 11, 2010

Attorney and 3 Brokers Charged in Mortgage Fraud Scheme

Jerry Velazquez, 38, Miramar, Florida, Guillermo Moran, 38, Miami Beach, Florida, Carolina Visbal, 32, Miami Beach, Florida and Rodolfo Landires, 37, Miami, Florida have had criminal Information filed against them for conspiracy to commit wire fraud, in violation of Title 18, United States Code, Section 1349.

According to the allegations in the...

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Tuesday, August 10, 2010

2 Convicted of Mortgage Fraud Crimes

Mayelin Salas, 36,Miami Springs, Florida and Lucy Segurola, 51, Miami, Florida, have been convicted for their participation in a mortgage fraud scheme that resulted in approximately $21 million in fraudulent loans. Salas and Segurola were found guilty of conspiracy to commit mail and wire fraud. Salas was also found guilty of mail fraud.

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2 Plead Guilty to Mortgage Fraud Charges

Beau Wesley Gensmer, 28, and Christopher Glenn Kennedy, 31, two Prior Lake, Minnesota, men have pleaded guilty in federal court in Minneapolis for their roles in a scheme that defrauded mortgage lenders out of more than $2.5 million by causing them to make loans based on false information. Appearing before United States District Court Judge...

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President of Mortgage Brokerage Admits Fraud

David Ramnauth, 54, Levittown, New York, the former President of GuyAmerican Funding Corp., a Queens, New York, mortgage brokerage firm, pled guilty in Manhattan federal court to conspiracy to commit bank and wire fraud. Ramnauth was charged in a Superseding Indictment along with eight other defendants for their participation in a scheme that...

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Monday, August 09, 2010

Credit History Fraud Alleged in Mortgage Fraud Scheme

Karen Washam-Hawkins, 48, Carson, California, and Gerald William Bartlett, 38, Tampa, Florida, were indicted by a federal grand jury for their roles in a credit history fraud that allegedly contributed to a nearly $3 million mortgage fraud scheme in Lee's Summit, Missouri.  Washam-Hawkins and Bartlett were charged in a six-count indictment...

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Mortgage Fraud Sends Woman to Prison

Emma Jean Holmes, 52, Kansas City, Missouri, has been sentenced to 12 months and one day in federal prison on mortgage fraud charges.

Holmes was tried in U.S. District Court in Kansas City, Kansas, and found guilty March 5, 2010, on one count of conspiracy to commit mortgage fraud, one count of mail fraud and one count of money laundering....

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Friday, August 06, 2010

Loan Officer Sentenced for Involvement in Mortgage Fraud Ring

Laura S. Lassiter, 53, Pataskala, Ohio, was sentenced to 24 months imprisonment for preparing fraudulent loan documents as part of a mortgage fraud scheme that she was involved with between November 2005 and May 2007. In addition, Lassiter was ordered to serves five years of supervised release following her term of  imprisonment, as well as to...

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Thursday, August 05, 2010

Charges Filed for $12M Bank Fraud Scheme

Richard Garcia, 29, Miami, Florida, Berta Sanders, 61, Miami Lakes, Florida, and Luis Felipe Perez, 38, Fort Lauderdale, Florida, have been indicted and charged with conspiracy to commit bank fraud in connection with a $12 million scheme. Garcia was also charged with six-counts of receiving gifts to procure loans.

According to the indictment,...

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Arizona Mortgage Company Accused of Deceptive Practices

The Guardian Group, LLC ("Guardian Group"),  Scottsdale, Arizona, has been sued for engaging in allegedly deceptive mortgage loan reduction services that have cost more than 2,500 consumers millions of dollars.

The lawsuit, filed in the Superior Court, Maricopa County, Arizona, alleges that the Guardian Group fraudulently represented itself as...

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Wednesday, August 04, 2010

Defendant Sentenced for Short Sale & Identity Theft Fraud

Brent Merriell, 38, Atlanta, Georgia, was sentenced by United States District Judge Jack T. Camp to federal prison on charges of making false statements to the Federal Deposit Insurance Corporation (FDIC) and aggravated identity theft.

Merriell was sentenced to 3 years, 3 months in prison to be followed by 5 years of supervised release. Merriell...

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Woman Indicted In Real Estate And Business Loan Fraud Scheme

Winnie Joanne Barefoot, 55, Annapolis, Maryland, a/k/a Winnie Jo Budzina, a/k/a Winnie JoAnne Conn, a/k/a Joanne Knopsnyder, a/k/a Olivia JoAnne Morgan, a/k/a Olivia JoAnne Barefoot Morgan, was indicted by a federal grand jury for bank, wire and mail fraud; social security fraud; and making false statements to the Social Security Administration....

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Lee Farkas Indictment Details Seven Year Billion Dollar Fraud Scheme

Lee Bentley Farkas, 57, former chairman of Taylor, Bean & Whittaker Mortgage Corporation was indicted in the Eastern District of Virginia, Alexandria Division, and charged with one count of conspiracy, 6 counts of bank fraud, 6 counts of wire fraud and 3 counts of securities fraud.  The indictment also seeks forfeiture of cash, real property and...

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Former Taylor Bean & Whittaker chair Lee Farkas Charged with Securities Fraud

Ocala.com is reporting that Lee Farkas, 57, former chair of Taylor, Bean & Whittaker was arrested in Ocala, Florida on Tuesday and charged with securities fraud.  According to the article, he is being held without bail and the FBI is scheduled to pick him up from the Marion County, Florida jail where he was booked after his arrest.

The raid of...

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Two Men Plead Guilty to Phony Mortgages

Timothy Scott Brooks, 38, Lynchburg, Virginia and Adam Nash Spruill, 32,  Forest, Virginia, pleaded guilty to charges they committed various frauds in relation to a scheme to obtain phony mortgages on properties located near Smith Mountain Lake, Virginia. The defendants waived their right to indictment. Each defendant pleaded guilty to one count...

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Man Sentenced for Straw Buyer Scheme

Jared Arambel, a Nevada resident, has been sentenced to 41 months in prison on a charge of conspiracy to commit mail, wire and bank fraud.

Per court documents, Arambel and his co-conspirators solicited persons to act as straw buyers and to submit loan applications and supporting documentation that contained false and fraudulent representations...

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Alleged Mortgage Fraud Orchestrator Indicted

Gary A. Noble, 31, Denver, Colorado, was indicted on a 63-count wire fraud indictment related to a mortgage fraud scheme.

According to the indictment, beginning on May 1, 2005 and continuing until March 3, 2006, Noble knowingly devised and intended to devise a scheme to defraud lending companies that funded residential mortgage loans and for...

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Stolen Funds Used to Commit Mortgage Fraud

Charles T. Wilson, 59, Plant City, Florida pleaded guilty to conspiracy to commit mail fraud, mail fraud, and false statements to a financial institution. Wilson faces a maximum penalty of 20 years in federal prison.

According to the plea agreement, from October 1998 through June 2008, Wilson, who was the Credit Manager at The Tampa Tribune,...

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Tuesday, June 15, 2010

North Carolina Man Admits Condo Investment Scam

Stevie Perkale Lee, 38, Weddington, North Carolina, has entered a plea of guilty to two federal criminal counts filed in a criminal bill of information in U.S. District Court in Charlotte, North Carolina. The counts against Lee charge that he, as President of "VP Companies USA," and "Arcadian Residence & Resort," fraudulently solicited over $1.5...

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Man Accused of Fraud Involving 400 Mortgages

Joseph F. Daniele ,39, Tampa, Florida, has been charged in a criminal complaint for conspiracy and wire fraud affecting a financial institution. If convicted on these charges, Daniele faces a maximum penalty of thirty-five years in federal prison.

According to the criminal complaint, Daniele, while being sued in federal court in Ohio for...

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Sisters Plead Guilty to Straw Buyer Scheme

Ralondria Stafford, 36, and Necole Ward, 31, both formerly of Vallejo, California, pleaded guilty to Bank Fraud.

According to court documents and as previously reported on Mortgage Fraud Blog, from 2004 through 2006, Stafford and Ward, who are sisters, operated RN Realty, a real estate office located in Vallejo, California, from which they...

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Florida Shuts Down Mortgage Industry Licensing Application System on July 8, 2010

On July 8, 2010, the Florida Office of Financial Regulation (OFR) will stop accepting applications for mortgage broker, mortgage brokerage business, mortgage lender and correspondent mortgage lender licenses, so that current applications can be processed before October 1. Beginning October 1, 2010, Florida will begin participation in the...

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Foreclosure “Rescuer” Sentenced for Mortgage Fraud

Jeffery Tye Brown, 50, Henderson, Nevada, was sentenced to prison following a plea of guilty to felony mortgage fraud in violation of NRS 205.372, a Category C felony, in connection with the operation of DB Financial Services, a foreclosure rescue business located in Henderson.

Las Vegas District Court Department 1 Judge Kenneth E. Cory...

 

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Monday, June 14, 2010

2 Convicted of Straw Buyer Scheme

Dema Daiga, 28, College Park, Maryland, and Olu Campbell, formerly known as Oluseun Oshosanya, 29, Laurel, Maryland, were convicted of numerous counts of wire fraud arising from a scheme to defraud a mortgage lending company in connection with six Baltimore, Maryland properties. Daiga was also convicted of two counts of aggravated identity theft...

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Title Lawyer Admits Mortgage Fraud Scam

Peter N. Price, 49, Hollywood, Florida, pled guilty to a criminal information charging him making false statements to HUD, in violation of Title 18, United States Code, Section 1001. In addition, Price agreed to make restitution to Stewart Title Guaranty, the victim of his fraud, in the amount of $1,608,246.57.

Sentencing is scheduled for August...

 

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Friday, June 11, 2010

3 Arrested in Alleged Bait and Switch Scam

Sean McConville, 30, Austin, Texas, president and co-owner of ALG Capital, Inc., a now defunct mortgage brokerage, was arrested at his residence. He is being held at the Travis County Jail in Texas pending extradition. He was previously convicted of robbery in November 1997.

Matthew Bourgo, 27, Thousand Oaks, California, who posed as a licensed...

 

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Real Estate Agent Admits Short Sale Fraud

Sergio Natera, 35, Bridgeport, Connecticut, a licensed real estate agent, pleaded guilty before United States Magistrate Judge Holly B. Fitzsimmons in Bridgeport to one count of bank fraud stemming from his involvement in a "short sale" mortgage fraud scheme. A short sale transaction involves a mortgage holder or lender entering into an...

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Tuesday, May 25, 2010

Trio Indicted on Mortgage Fraud Charges

Veronica Frazier, 42, Pearland, Texas, Robert Veazie, 35, Houston, Texas, and Felton Greer, 41, Houston, Texas, have been charged with fraudulently obtaining home purchase loans. The indictments were returned under seal on May 5, 2010, and were unsealed once the three defendants were in custody.

Frazier was charged in a five-count indictment...

 

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Woman Admits Lying on 3 Home Loan Applications

Melva Massey, 29, Waldorf, Maryland, pleaded guilty to conspiring to commit wire fraud in connection with making false statements to obtain three home mortgages within a three month period.

According to Massey's plea agreement and complaint, between June 2007 and September 2007 Melva Massey, her husband D'Von Massey and others submitted three...

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Investigation Leads to Guilty Plea in Mortgage Fraud Case

Johnson Olawoyin, Maryland, pleaded guilty to three criminal charges in a mortgage fraud case: theft, operating as a mortgage lender without a license and violating the Maryland Mortgage Lender Law and Credit Services Businesses Act.

In July 2009, the Office of the Commissioner initiated an investigation in response to a referral from a...

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Guilty Plea Entered in Case Inlving Theft of $336,000

Diana Marks, 45, a California resident, pleaded guilty to felony charges including Grand Theft, Recording False Instruments, Perjury, and Creating False Financial Documents.

Defendant Marks, who is currently in custody, is facing a four year prison term sentence. The charges were the result of an investigation by the Santa Clara County,...

 

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Former Realtor Convicted in Loan Modification Scam

Hector Ricardo Esquivel, San Jose, California, was sentenced to one year in jail for six felony counts of grand theft for defrauding homeowners in a loan modification scam.

Esquivel solicited victims from Santa Clara County, California and beyond between May 2008 and May 2009. Victims lost thousands of dollars in the scam. After a thorough...

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Man Admits $800,000 Mortgage Fraud Scheme

Dale Charles Dodge, Jr., 61, Alexandria, Minnesota, pleaded guilty to charges connected to a scheme to defraud mortgage lenders and others out of more than $800,000. Dodge Jr. pleaded to one count of wire fraud and one count of engaging in a monetary transaction with property derived from specified unlawful activity, commonly referred to as...

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Monday, May 24, 2010

Tennessee FBI Agent Charged with Fraud

Darin Lee McAllister, 44, Brentwood, Tennessee, a Special Agent employed by the Federal Bureau of Investigation in Nashville, Tennessee, was indicted by a grand jury sitting in Nashville, Tennessee.

The 19 count indictment charges McAllister with wire fraud in violation of Title 18, United States Code, Section 1343, bank fraud in violation of...

 

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4 Arrested, 5 Wanted for Fleecing Homeowners Seeking Foreclosure Relief

Gregg Scott Quinn, 37, Camarillo, California, and Juan Pierre Washington, 40, Winnetka, California, Gary Arnold Eisenberg, 71, Westwood, California, Ira Itskowitz, 58, California,  Niv Iskin, 30, Reseda, California, Reviv Karpman, 38, Tarzana, California, Tomer Kogman, 29, Receda, California, Avraham Yechizkia, 34, Encino, California, Barel...

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Woman Admits Role in Mortgage Fraud Scheme

Rosa Garcia, 34, Clinton, Connecticut, waived her right to indictment and pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud.

According to court documents and statements made in court, Garcia worked for Jose Guzman, who operated a mortgage business that arranged for individuals to obtain funding from various mortgage...

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Charges and Updates in Three Mortgage Cases

Anthony G. Symmes, 59, Paradise, California, has agreed to plead guilty to an information, charging him with one count of conspiracy to commit mail fraud in connection with a builder bailout scheme involving fraudulent sales of 62 houses, and with one count of money laundering. Symmes, who is an attorney, a CPA, a developer, and the largest home...

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Friday, May 21, 2010

Mortgage Fraud Mastermind Sentenced

Patricia Morgen, 63, most recently of Chicago, Illinois, the founder and head of Chicago Development and Planning, was sentenced to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering.

As previously reported on Mortgage Fraud Blog, Morgen pleaded guilty on...

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Fraud and Insider Abuse

Mortgage fraud investigations by the FBI increased 400% in 2009, according to an Office of Thrift Supervision (OTS) report on fraud and insider abuse.

According to the report, "Difficult economic times often lead to an increase in fraud and insider abuse. During the market downturns of the late 1980s and early 1990s, fraud and insider abuse...

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Broker Sentenced in Investment Scheme

David Wehrs, Sr., 55, Annapolis, Maryland, has been sentenced to three years in prison followed by three years of supervised release, with the first year to be served on home detention with electronic monitoring, for wire fraud in connection with a scheme to defraud investors and financial institutions. Wehrs has also been ordered to pay...

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Kentucky Man Indicted for Real Estate Fraud

Billy Dwayne McDaniel, 30, Louisville, Kentucky, has been indicted on one count of mail fraud.  The defendant was originally arrested on May 4, 2010, on a federal criminal complaint alleging similar charges.

The Indictment alleges that in March and April 2009, the defendant devised a scheme or artifice to defraud Franklin American Mortgage by...

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Thursday, May 20, 2010

Mark Kellogg Sentenced to 14 Years for Operating $5.8M Mortgage Fraud Scam

Mark Kellogg, 39, Shaker Heights, Ohio, was sentenced to 14 years for operating a large mortgage fraud scheme in Slavic Village, Ohio. Kellogg was ordered to pay restitution of $5,831,500 to lenders and $186,715 to 109 neighbors who sold properties located on the same city block as the foreclosures resulting from mortgage fraud.

Mark Kellogg,...

 

Friday, March 12, 2010

Police Officer Arrested for Mortgage Fraud

Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB.

According to the Complaint, Ragauckas and his wife own property located in Secaucus, New Jersey...

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5 Charged in 327 Count Mortgage Fraud Indictment

Martina Duran (a.k.a. Gladys Arroyo), 57, Briarwood, Queens, New York, Roger Arias, 36, Ridgewood, Queens, New York, Aldo Bussi, 41, Levittown, Long Island, New York, Ramon Gaston, 29, New York, and Percy Randall, 54, Westbury, Long Island, New York, have been charged in a 327-count indictment in connection with an approximately $2 million...

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Fourth Defendant Pleads Guilty in Mortgage Fraud Scheme

 

Karen Hewitt, 51, a resident of New York, pled guilty to her role in the scheme in which Michael Cassadei and others used fraudulent loan applications, appraisals, settlement statements, and other false statements and documents to induce the former First Union National Bank of Delaware to finance the sale of Capital Region, New York residential...

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Thursday, March 11, 2010

Guilty Plea in Connection With Real Estate Fraud Scheme

Timothy Lynn Beliveau, 42, Mound, Minnesota, man pleaded guilty in federal court to charges related to a real estate fraud scheme that defrauded vulnerable homeowners and induced investors to purchase distressed real estate from those homeowners at inflated prices. Timothy Lynn Beliveau pled guilty to one count of engaging in a monetary...

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4 Charged With Purchasing Homes Using Straw Buyers

Sushama Devi Lohia, 71, Newport Beach, California, Supriti Soni, 49, Corona Del Mar, California, Suniti Shah, 48, Newport Beach, California, and Dinesh Valjeebhai Shah, 60, Newport Beach, California, have been charged with conspiracy to commit over $16 million in real estate fraud by forging documents and purchasing homes using "straw buyers."

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Man Sentenced for Stealing More Than $400,000 From Lenders

Micah John Beaumia, 30, Alexandria, Minnesota, was sentenced in federal court for concealing more than $400,000 in payments to himself and others from mortgage loan proceeds. Micah John Beaumia was sentenced to 36 months in prison on one count of wire fraud and one count of money laundering. Beaumia was indicted on May 11, 2009, and pled guilty...

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Wednesday, March 10, 2010

Another Metropolitan Money Store Player Indicted

Rolando Alonzo Cousins, a/k/a "Junior", 31, Bowie, Maryland, has been indicted for conspiracy to commit mail fraud, mail fraud, and money laundering, in connection with a massive mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, but left them homeless and with no equity....

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Fraudster Sentenced for Submitting False Information to Lenders

Kara E. Robinson- Franks a/k/a Kara E. Garret, a Kansas resident, was sentenced for wire fraud and money laundering in connection to her role in a mortgage fraud scheme.

As previously reported on Mortgage Fraud Blog and per court documents, Robinson - Franks held herself out to be a real estate agent and vice president of Operations and Human...

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Father & Daughter Team Charged With Mortgage Fraud

Guadalupe Ramirez and Augustine Ramirez, Bakersfield, California, have been charged in connection with a mortgage fraud scheme.

Per court documents, Guadalupe arranged for his daughter to purchase properties, where, Augustine received kickbacks ranging from $65,000 to $100,000 from the sellers that were not disclosed to the lenders, thus...

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Tuesday, March 09, 2010

Participant in 2 Different Mortgage Fraud Schemes Pleads Guilty

John Polosky, 40, McMurray Pennsylvania, pleaded guilty in federal court to charges of wire fraud conspiracy and filing false tax returns.  

In connection with the guilty plea and according to court documents, Polosky participated in two different mortgage fraud conspiracies, one in the Western District of Pennsylvania and one in the Eastern...

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Charges Filed in Mortgage Fraud Scheme

Gerald James Greenfield, 64, Bloomington, Minnesota, was charged with one count of conspiracy to commit mortgage fraud through the use of wires, four counts of mortgage fraud by means of interstate wire, one count of conspiracy to commit concealment money laundering, and one count of engaging in a monetary transaction with criminally derived...

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Man Sentenced for Falsifying Loan Applications

John A. Bui, 46, of San Jose, California was sentenced to 41 months in federal prison and ordered to pay $3,500,000 in forfeiture as a result of his convictions for conspiring to commit wire fraud, destruction of records in a federal investigation, and witness tampering.

As previously reported on Mortgage Fraud Blog and per court information,...

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Former Fugitive Sentenced for Mortgage Fraud

Shawn Green, 43, Columbia, Maryland, was sentenced to 151 months in prison followed by five years of supervised release for conspiring to distribute 330 pounds of cocaine. Green was also ordered to forfeit over $914,000 in cash, property purchased in the mortgage fraud scheme, three luxury vehicles and a pickup truck, four bank accounts and an...

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Monday, March 08, 2010

Woman Uses Stolen Money to Purchase Residence

Kellie Hampton Bick, 42, Midland, Texas, faces federal prison after pleading guilty to one count of bank fraud and one count of aggravated identity theft.

In documents filed with the court, Bick admitted that starting in February 2009 she began writing checks to herself on bank accounts held by her employer, North Waterfront Corporation (NWC)...

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Owner of Mortgage Brokerage Company Sentenced for Mortgage Fraud

Frederick Earle Deen, III, 30, a Minnesota resident and part owner of Legacy Lending, a Minnesota mortgage brokerage company, was sentenced in federal court for bilking lenders out of more than $500,000 through mortgage fraud. Deen was sentenced to 24 months in prison on one count of wire fraud and one count of tax evasion in connection to this...

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Monday, February 08, 2010

3 Indicted For Role in Texas Mortgage Fraud Scam

Ming Shan Zhu, 57, of Katy, Texas, the owner of Catco Homes; Alvin Mark Eiland, 45, Houston, Texas, former owner of Future Mortgage Company Inc.; and Gary Leonard Robinson II, 28, Houston, Texas, a former employee of Future Mortgage Company Inc., have been charged with offenses arising from a scheme to defraud residential mortgage lenders of...

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12 Charged in for Real Estate & Mortgage Fraud

12 people have been charged for various, unrelated mortgage and real estate scams:

Victor Koltun and Jarrett Haber have been charged with Grand Larceny in the Second Degree, Residential Mortgage Fraud, and Possession of a Forged Instrument. In October 2009, Jean Kemp, a senior citizen, received a phone call demanding payment on her mortgage....

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Probation Given for Participation in Mortgage Fraud Scheme

John Boumenot, 63, has been sentenced to 5 years probation for his participation in a mortgage fraud scheme. Boumenot is also required to make regular restitution payments.

 

As taken from to court documents, John Boumenot operated a business buying, renting, and selling real estate properties. Boumenot, played a limited role in a scheme related...

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Foreclosure Rescue Companies Sued in Separate Actions

1) Sean Alan Rutledge, a California attorney, and United Law Group, Inc. (ULG), a California law firm he founded, have been charged in a lawsuit for bilking Ohioans who faced foreclosure out of thousands of dollars. The lawsuit alleges that the law firm promised foreclosure rescue and legal services to save homes and collected upfront fees but...

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First Fidelity Mortgage, Inc. President Sentenced for Bank Fraud

William Everett Nichols, 56, Alexandria, Louisiana, president and sole shareholder of First Fidelity Mortgage, Inc., was sentenced to six years in federal prison and ordered to pay $3,903,071.00 in restitution for bank fraud. 

As previously reported on Mortgage Fraud, Nichols pled guilty to bank fraud in November 2009. The FBI investigation of ...

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Friday, February 05, 2010

Self-Proclaimed “Honorable Lady of San Francisco” Defrauded Mortgage Lenders

Judy "Miu Wan" Yeung, 58, Mountain View, California, was convicted of one count of conspiracy to commit wire fraud, eight counts of wire fraud, and three counts of witness tampering. 

The jury, after deliberating for one day, found that Yeung engaged in a mortgage fraud conspiracy between approximately December 2004 and January 2007. Yeung,...

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21-Count Indictment Handed Down in Mortgage Rescue Scam

Jamaar Manlove, Larry Manlove, Rhonda Manlove, Master Builders for Christ and Vision Builders Christian Center have been charged in a 21-count indictment for crimes related to a mortgage rescue scam. Warrants have been issued for their arrest and racketeering liens have been placed on their assets. This represents what is believed to be one of...

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California Company Sued for Foreclosure Rescue Fraud

21st Century Legal Services, Inc., a California company providing loan modification services to homeowners facing foreclosure has been charged with charging consumers up-front fees in violation of Florida's Foreclosure Rescue Fraud Prevention Act.

The complaint alleges that, after initial contact is made with a homeowner, the company arranges...

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Florida Man Gets Prison Time for Mortgage Fraud

Stanford Morgan, 44, Seminole County, Florida, president and owner of Homes for Sale by Owner, Inc., was sentenced to six years in prison after pleading guilty to a criminal racketeering scheme that involved mortgage fraud in home purchasing. Upon his release from prison, Stanford Morgan must also pay full restitution, including $200,000 to an...

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Thursday, February 04, 2010

2 More Sentenced for Scam Involving 136 Loans

Kevin Lafavers, 46, formerly of Indianapolis, Indiana, was sentenced to 33 months in federal prison, and Donald T. Brown, 67, Lebanon, Indiana, was sentenced to 27 months in prison. Both were sentenced following Lafavers' guilty pleas to conspiracy to commit wire fraud and wire fraud and Brown's guilty pleas to conspiracy to commit wire fraud...

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Mortgage Fraud Ponzi Scheme Leads to Jail Time

Dawn Quiroga, 40, Oklahoma City, Oklahoma, formerly of Edmond, Oklahoma, was sentenced to serve 97 months in federal prison for money laundering and failure to file a tax return stemming from a mortgage fraud Ponzi scheme. In addition, Quiroga was ordered to serve three years of supervised release upon release from prison and pay $4,848,850.04...

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Man Admits Role in $3.6M Mortgage Fraud Scam

Quentin Henley, 37, Kansas City, Missiouri, pleaded guilty for his role in a mortgage fraud conspiracy that involved loans on 34 properties in the inner city and midtown areas of Kansas City, Missouri, totaling more than $3.6 million.

As previously reported on Mortgage Fraud Blog, Henley did business as Quality Remodeling, as All and One...

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Wednesday, February 03, 2010

10 Charged in Multi Million Dollar Mortgage Fraud Case

Yamil L. Herrera, 38, Miami, Florida, Alain C. Hernandez, 41, Miami,Florida, Ricelda M. Hernandez, 44, Miami, Florida,  Maria G. Herrera, 40, Miami, Florida,  Ana G. Blanco, 35, Hialeah, Florida, Samantha Portales, 43, Miami, Florida,  Edel Martinez, 37, Miami, Florida, Osiris Garcia, 41, Miami, Florida, Luis R. Martinez, 42, Hialeah,...

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Defendant Pleads Guilty in Mortgage Fraud Scheme

Olu Campbell, formerly known as Oluseun Oshosanya, 29, Laurel, Maryland, pleaded guilty to wire fraud in connection with a scheme to defraud a mortgage company of $428,000.

According to Campbell's plea agreement, he was familiar with real estate renovations and the mortgage business because he had previously worked both as a loan officer at a...

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Mortgage Fraud Scam Sends 3 to Jail

Dwayne G. Deer, Biloxi, Mississippi (fomerly of McComb, Mississippi), James Todd Phillips, McComb, Mississippi, and Dawn Stinson, McComb, Mississippi, were sentenced for their roles in a mortgage fraud scheme that operated from March 2003 through January 2006. Deer and Phillips victimized over 25 banks, title insurance companies and other...

Tuesday, December 15, 2009

Investigators Shut Down Mortgage Fraud Ring

Juan Sopprani, 31, Rancho Cucamonga, California, Karen Sopprani, 28, Rancho Cucamonga, California, Luis Molina, 41, Pomona, California and Earl Gutierrez, 36, Rancho Cucamonga, California, were arrested in connection with a mortgage fraud scheme.

On March 30, 2006, Juan and Karen Sopprani sold their home in Fontana to the victim and subsequently...

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Monday, December 14, 2009

Attorney Admits Deceiving Clients in Real Estate Deals

Hugh Zuber, 39, Monsey, New York, a lawyer formerly employed by the Office of the Corporation Counsel for the City of New York, pleaded guilty to two counts of mail fraud arising from his participation in schemes to defraud two former clients. Zuber had represented the clients, in a personal capacity, in connection with their sale of real estate...

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Mortgage Fraud Scheme Lands Ohio Man In Prison

Julian M. Hickman, 32, East Cleveland, Ohio and formerly of Centerville, was sentenced to 33 months in prison for operating an extensive mortgage fraud scheme affecting 210 residential properties, including 205 in Montgomery County between 2002 and 2006. Hickman was also sentenced to pay a $12,500 fine and serve three years of supervised release...

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Property Owner Pleads Guilty In Mortgage Fraud Scheme

Mark M. Benun, 35, New York, New York, pleaded guilty in Manhattan federal court to perpetrating a mortgage fraud scheme involving the sale of a $5.9 million building on 161 Street in the Bronx, New York.

As previously reported on Mortgage Fraud Blog, during the course of the mortgage fraud scheme, Benun represented himself to be the owner of a...

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Friday, December 11, 2009

President of Mortgage Brokerage Firm Charged in Fraud Scheme

David Ramnauth, 54, Levittown, New York, the President of GuyAmerican Funding Corp., is charged with conspiracy to commit bank fraud and wire fraud in connection with a scheme that defrauded banks out of more than $23 million in home mortgage loans. Ramnauth is charged along with eight other defendants who were previously charged in the same...

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Loan Officer Guilty of Defrauding Lender

Jeffrey Michael Taylor, 35, Blaine, Minnestota pleaded guilty to defrauding CitiMortgage out of $588,200.51 through a mortgage fraud scheme. Taylor pleaded guilty to one count of conspiracy to commit wire fraud in connection with this crime. Taylor was charged on November 13, 2009.

In his plea agreement, Taylor, the owner of First Solution...

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Thursday, December 10, 2009

Former Bank Employee Admits Falsifying Bank Statements

Clarista Bramble, 59, Randolph, Massachusetts, a former Bank of America employee, pled guilty to wire fraud in federal court for creating false documents to secure approval of mortgage loan applications.

At the plea hearing, the prosecutor told the Court that had the case proceeded to trial the Government's evidence would have proven that during...

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Price-Flipping Gets Two Charged with Mortgage Fraud

Zack Zafer Dyab, 45, Golden Valley, Minnesota and Julia Alexander Rozhansky, 45, Minnetonka, Minnesota, were charged for allegedly orchestrating a mortgage fraud scheme in which they stole more than $2.5 million from lenders nationally by obtaining fraudulent loans for the purchase of 35 homes in the Twin Cities, Minnesota. The indictment...

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Rhode Island Woman Sentenced For Mortgage Scam

Lisa Torres, 41, formerly of Johnston, Rhode Island, was sentenced to 46 months in federal prison for a $1.7 million mortgage fraud scheme. As previously reported on Mortgage Fraud Blog, in October 2009, Torres admitted that she purchased properties that had recently been foreclosed upon and then used the names of straw purchasers in sham sales...

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Wednesday, December 09, 2009

5 Indicted in Foreclosure Rescue & Mortgage Fraud Scheme

Edward G. McCusker, 45, New Hope, Pennsylvania ,John Alford Bariana, 37, Mullica Hill, New Jersey, Jacqueline D. McCusker, 45, New Hope, Pennsylvania, Jeffrey A. Bennett, 43, Springfield, Pennsylvania and Stephen G. Doherty, 43, Doylestown, Pennsylvania have been charged in a $14.6 million mortgage fraud scheme that resulted in at least 35...

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Former Officers of Subprime Lender Charged With Fraud

Brad A. Morrice, Laguna Beach, California, former CEO and Co-Founder, Patti M. Dodge, Irvine, California, former CFO, David N. Kenneally, Rossmoor, California, former Controller of New Century Financial Corporation, have been charged with securities fraud for misleading investors as New Century's subprime mortgage business was collapsing in...

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Tuesday, December 08, 2009

Foreclosure Scam Halted in North Carolina

Geoffrey Lamb , Kannapolis, North Carolina, who runs a foreclosure rescue operation was temporarily barred from offering foreclosure and loan modification services . The suit was filed against Lamb, who did business as The Lamb Group and US Consumer Solutions. 

As alleged in the complaint, Lamb stated on his website that his firm was a...

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Co-Defendant Pleads Guilty to Mortgage Fraud

Ethan Ellner, 54, Plainview, New York, pleaded guilty to three counts of Grand Larceny 2nd degree, one count of Conspiracy 4th degree and one count of Scheme to Defraud 1st degree on charges stemming from the indictment wherein Ellner, George Guldi, a former Suffolk County Legislator and others were charged with grand larceny, conspiracy and...

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CEO of Metropolitan Money Store Sentenced in Multi Million $ Mortgage Fraud Scheme

Jennifer McCall, 48, Fort Washington, Maryland, the Chief Executive Officer of the Metropolitan Money Store, was sentenced to 135 months in prison, followed by five years of supervised release, for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep...

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Fraudster Pleads Guilty to Bilking Mortgage Lenders

Dustin LaFavre,27, Webster, Minnesota, pleaded guilty in federal court to one count of conspiracy to commit mail and wire fraud for bilking more than $7 million from at least 15 real estate mortgage lending companies between 2005 and 2008. LaFavre was charged on November 5, 2009.

In his plea agreement, LaFavre admitted he conspired with a...

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