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Keyword: mortgagefraud

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  • Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges

    03/05/2014 7:16:00 PM PST · by DogByte6RER · 5 replies
    Mortgage Fraud Blog ^ | March 3, 2014 | Mortgage Fraud Blog (Rachel Dollar)
    Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges Herschell Harvell, Jr., 53, Conyers, Georgia, made his initial appearance in federal court on charges of making false statements to a bank to obtain a mortgage loan and conspiring to obstruct an investigation into his real estate transactions by the U.S. Department of Housing and Urban Development, Office of Inspector General (HUD-OIG). Until he was terminated in 2013, Harvell was the Special Agent in Charge of HUD-OIG’s Atlanta office, which encompasses several southeastern states. Harvell’s co-defendant and nephew, Tavus A. Wright, 32, Milledgeville, Georgia, also made his initial appearance...
  • DOJ, FBI admit they inflated claims about mortgage fraud crackdown last year

    08/14/2013 4:53:03 PM PDT · by jazusamo · 11 replies
    Fox News ^ | August 14, 2013 | Judson Berger
    The Justice Department and FBI have quietly acknowledged they grossly overstated the scope of a mortgage fraud crackdown, which the administration heralded with much fanfare a few weeks before last year's presidential election. According to a memo circulated by the FBI and a correction posted online by the Justice Department, the number of defendants, the number of victims and the size of the losses are, in reality, a fraction of what officials claimed last October. Attorney General Eric Holder and other law enforcement officials claimed in early October that the initiative charged 530 criminal defendants on behalf of 73,000 victims...
  • Surprise! DoJ’s mortgage-fraud prosecutions claim turns out to be … fraudulent

    08/12/2013 5:56:22 AM PDT · by Hotlanta Mike · 9 replies
    Hot Air ^ | August 12, 2013 | Ed Morrissey
    Bloomberg News caught the Department of Justice in a particularly noteworthy Friday-night news dump over the weekend. The Obama administration, stung by accusations from the Left that it hadn’t gone after fraudulent mortgages and the lenders that helped fuel the bubble, claimed that a year-long initiative run by the Mortgage Fraud Working Group in the DoJ had charged 530 people who had victimized 73,000 people. When Bloomberg’s reporters began digging into the claim, the DoJ stonewalled — and then finally admitted it cooked the books themselves:
  • Radio Talk Show Host Charged with Mortgage Fraud (Chicago Raised Community Activist, BHO Sychophant)

    02/13/2013 6:58:14 PM PST · by DogByte6RER · 9 replies
    Mortgage Fraud Blog ^ | Thursday, 07 February 2013 | Rachel Dollar
    Radio Talk Show Host Charged with Mortgage Fraud Warren Ballentine, 41, Durham, North Carolina, and formerly of Country Club Hills, Illinois, a lawyer who hosts a national radio talk show, was indicted on federal charges for allegedly engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million. The defendant allegedly schemed with others to obtain more than two dozen fraudulent mortgage loans and represented buyers at multiple closings, knowing that they were fraudulently qualified for loans to purchase homes in Chicago, Illinois, and various southern suburbs. Ballentine owns the Law Office of Warren Ballentine,...
  • Carroll County NH High Sheriff Chris Conley Press Conference 7:2:12

    07/08/2012 10:09:51 PM PDT · by InMemoriam
    YouTube ^ | 7/2/2012 | Chris Conley
    Another sheriff steps up to the plate against the kleptocracy. Sheriff Conley is asking for volunteer help for his investigatory task force to prosecute MERS-related foreclosure fraud, so this is a chance for you to fight back as well.
  • For Billionaires Only: Uncle Sam's Real Estate Fire Sale

    06/25/2012 7:17:09 AM PDT · by bayouranger · 12 replies
    thenewamerican.com ^ | 14JUN12 | William F. Jasper
    “The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.” So warned Roger Arnold, chief economist for ALM Advisors of Pasadena, California, in a column for RealMoney on August 11, 2011, that first lifted the lid on this latest colossal scandal to come out of the 2008-2009 financial crisis. “These homes,” wrote Arnold, “which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively,...
  • Robosigning Is Now History - US Announces $26 Billion Foreclosure Settlement (shakedown)

    02/09/2012 9:54:42 AM PST · by Para-Ord.45 · 27 replies
    http://www.zerohedge.com ^ | February 9 2012 | Tyler Durden
    As reported yesterday, the cost of terminal abrogation of contractual rights in the US is, drumroll, $26 billion. Bloomberg notes: -$26 BILLION FORECLOSURE SETTLEMENT ANNOUNCED IN WASHINGTON -FORECLOSURE ACCORD RESOLVES 16-MONTH ROBO-SIGNING INVESTIGATION -FORECLOSURE ACCORD IS SUBJECT TO APPROVAL BY FEDERAL JUDGE -FORECLOSURE DEAL PRESERVES U.S., STATE RIGHTS TO OTHER CLAIMS -FORECLOSURE ACCORD COULD CLIMB TO $40 BLN IF 14 SERVICERS JOIN And a whole lot of corner offices for America's Attorneys General. As for what the market thinks of this "severe" settlement: BAC +1.2%, WFC +0.6%, JPM +0.4%, C -0.1%. For those who don't understand what just happened, US...
  • A Mortgage Tornado Warning, Unheeded

    02/06/2012 2:03:22 PM PST · by Shane · 7 replies
    New York Times ^ | 2/4/2012 | Gretchen Morgenson
    YEARS before the housing bust — before all those home loans turned sour and millions of Americans faced foreclosure — a wealthy businessman in Florida set out to blow the whistle on the mortgage game. Multimedia Document Report to Fannie Mae Regarding Shareholder Complaints Add to Portfolio Federal National Mortgage Association Fannie Mae Go to your Portfolio » His name is Nye Lavalle, and he first came to attention not in finance but in sports and advertising. He turned heads in marketing circles by correctly predicting that Nascar and figure skating would draw huge followings in the 1990s. But after...
  • Guilty pleas reached in $10 million bank fraud

    12/28/2011 4:10:03 AM PST · by Miami Vice
    Legal News Line ^ | 12-27-11 | Michael P. Tremoglie
    The U.S. Attorney for the Southern District of New York has announced a guilty plea in a bank fraud and bank bribery scheme. Several banks were defrauded of at least $10 million after a man and his compatriots obtained commercial loans and lines of credit using ...
  • US prosecutors: Deutsche Bank was aware of mortgage fraud

    08/24/2011 3:15:15 PM PDT · by Olog-hai · 15 replies
    The Local ^ | 24 Aug 11 07:52 CET | AFP
    Germany's Deutsche Bank was aware of fraud being committed by a US subsidiary that issued thousands of bad mortgages before the 2008 financial crisis, US prosecutors have alleged. The US Department of Justice detailed the allegations in an amended lawsuit filed this week with a New York court, hitting back at Deutsche Bank's claim that it was not responsible for the actions of MortgageIT, a home finance business it took over in January 2007. "Following the merger, MortgageIT continued its wrongful conduct. And, it did so with the knowledge and/or participation of Deutsche Bank," the department said. The department is...
  • U.S. Mortgagegate Scandal Puts Taxpayers into the Title-Insurance Business

    10/31/2010 11:43:20 AM PDT · by An Old Man · 10 replies
    The Market Oracle ^ | Oct 29, 2010 | Shah Gilani
    U.S. Mortgagegate Scandal Puts Taxpayers into the Title-Insurance Business Housing-Market / US Housing Oct 29, 2010 - 05:48 AM By: Money_Morning Shah Gilani writes: U.S. taxpayers already own pieces of such problem-plagued companies as General Motors Corp., Chrysler LLC, American International Group Inc. (NYSE: AIG), Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC). Now the increasingly problematic "Mortgagegate" saga could land American taxpayers in the trouble-ridden title-insurance business. On Oct. 8, Bank of America Corp. (NYSE: BAC) indemnified Fidelity National Financial Inc. (NYSE: FNF) against any losses that Fidelity might sustain in litigation over title insurance it writes on...
  • The Perfect No-Prosecution Crime

    10/25/2010 10:37:14 AM PDT · by Razzz42 · 6 replies
    Jim Sinclair's Mineset ^ | October 25, 2010 at 1:12 pm | Greg Hunter
    It appears to me the entire mortgage/securitization industry is one giant criminal enterprise. And yet, last Wednesday, Housing and Urban Development Secretary Shaun Donovan said, “We have not found any evidence at this point of systemic issues in the underlying legal or other documents that have been reviewed.” What! Well, look a little harder Mr. HUD Secretary. (Click here for the complete Reuters story with Donovan’s quote.) Donovan did say the foreclosure fiasco is “shameful,” but that is not the same as a criminal prosecution now is it? Where is U.S. Attorney General Eric Holder in all of this? I...
  • Here Is Your Chance To Check If You Are The Victim Of Mortgage Fraud (SEIU setup?)

    10/12/2010 8:30:06 PM PDT · by Frantzie · 9 replies · 1+ views
    Zero Hedge ^ | 10-12-2010 | Tyler Durden
    Wondering if you are one of those suckers paying a mortgage in limbo, with all the payments due to some non-existent mortgage noteholder getting retained at the servicer banks? Well, if you can spare 3 minutes then "Where's the Note" is for you. The website, which is on the verge of a viral break out, has a simple message: "Whether you are facing foreclosure, have an underwater mortgage, or are just a concerned homeowner, it’s important that you contact your bank and demand to see the original note on your mortgage. It only takes a few minutes using our free...
  • Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA

    10/07/2010 9:05:04 AM PDT · by Chunga85 · 41 replies
    4closureFraud ^ | 10/7/2010 | Michael Redman
    HEY JUDGE COX, THIS IS WHAT YOUR MOTION TO QUASH IS PROTECTING!
  • I got just what you need. Lender Processing Services’ DOCX Document Fabrication Price Sheet

    10/02/2010 11:19:33 AM PDT · by Chunga85 · 82 replies
    4closureFraud ^ | 10/2/20104 | Michael Redman
    Ummmmm…. Wow… From the Catalog… DOCX’s GetNet™ Document Recovery solution is a national network of runners that is engaged to provide document recovery, expedited recordation services, title searches, and insurance submissions. The service is unique in that our clients can request that DOCX obtain any missing recordable documents through this web site through our online GetNet™ Work Order Form. Status of existing projects can also be obtained through our Online Services. We also accept work orders the “old fashioned” way via fax or mail. Upon receipt of the work order, DOCX will access the national network of runners, place the...
  • Foreclosure Bill Is Blocked (Obama Plans His First Significant Veto...)

    10/08/2010 1:21:45 AM PDT · by paudio · 156 replies
    WSJ ^ | 9/8/10 | DAMIAN PALETTA
    President Barack Obama plans to veto a bill whose opponents say would make it harder for homeowners to stop foreclosures. The move marks the Obama administration's most direct intervention so far into a growing debacle tied to how banks foreclose on homes, and the first effective veto of Mr. Obama's presidency. The veto could make it more difficult for banks to complete paperwork and speed the foreclosure process, and could give homeowners more time to rework loans. Several of the country's largest banks, including Bank of America Corp., J.P. Morgan Chase & Co. and Ally Bank, have moved in recent...
  • BofA stops foreclosures in all 50 states

    10/08/2010 8:30:23 AM PDT · by null and void · 181 replies
    Fox News | 10/8/10
    Live now. BofA stopping all foreclosures, due to inability to sort out faulty documents, laws suits over documents, etc.
  • Texas Freezes Foreclosures

    10/06/2010 5:35:15 AM PDT · by Chunga85 · 114 replies
    CBS Money Watch ^ | 10/5/2010 | Ilyce Glink
    Yesterday, Texas Attorney General Greg Abbott asked 27 lenders and loan service companies to freeze foreclosures in the state over concerns about the accuracy of foreclosure documents. Abbott asked that evictions of families living in foreclosed homes be halted as well.
  • Irish Nuns Sue Morgan Stanley over Bond Deal

    08/15/2010 5:57:57 AM PDT · by Chunga85 · 5 replies
    CNBC ^ | 8/12/2010 | Patrick Allen CNBC Senior News Editor
    A group of nuns from Ireland are suing Morgan Stanley, alleging improper actions by the investment bank that led them to lose at least 5 million euros ($6.4 million), about 80 percent of their total investment, a filing by Stuarts Law showed. The claim, titled "The Sisters of Jesus and Mary versus Morgan Stanley", is related to bond investments linked to Dresdner Bank debt. The filing claims Morgan Stanley’s [MS 25.90 -0.22 (-0.84%) ] Special Purpose Vehicle (SPV) Saturn's Investment Europe "deliberately or carelessly failed to redeem the notes" following their downgrading in January 2009. According to the filing, The...
  • The Structural Causes of Mortgage Fraud

    08/14/2010 9:07:22 AM PDT · by Chunga85 · 35 replies
    University of Georgia Law School ^ | August 2010 | James Charles Smith
    James Charles Smith University of Georgia Law School Syracuse Law Review, Vol. 60 UGA Legal Studies Research Paper No. 10-14 Abstract: Mortgage fraud, often a violation of federal and state criminal statutes, covers a number of different types of behavior, all of which have the common denominator of conduct that has the intent or effect of impairing the value of residential mortgage loans. Mortgage fraud has become prevalent over the past decade and shows no signs of diminishing despite the collapse of domestic housing markets during the past two years. This paper analyzes the complex relationships between prime mortgage loan...
  • The Foreclosure Fight Makes National News Radio Program July 8, 2010 9 to 11 AM EST

    07/07/2010 7:18:00 AM PDT · by Chunga85 · 57 replies · 1+ views
    The Power Hour ^ | 7/8/2010 | The Power Hour Radio Show
    Florida foreclosure activist and former guest on TPH LISA EPSTEIN provides updates to the major headway, and the difficulties, when fighting back to defend your home. Plus, the latest information as to what the State of Florida intends to do with all the “hidden pre-foreclosures” that banks have been secretly keeping off the official record.
  • Fla. FBI agent, officers accused of mortgage fraud

    07/01/2010 1:51:30 PM PDT · by Chunga85 · 14 replies
    Miami Herald ^ | 7/1/2010 | Associated Press
    FORT LAUDERDALE, Fla. -- Seven current and former police officers, an FBI agent and a network of attorneys and mortgage brokers are accused of orchestrating a multimillion dollar mortgage fraud in South Florida. Thirteen were arrested Wednesday after a federal grand jury indictment was unsealed. It alleges the group falsified documents to secure $16.5 million in loans to buy and flip properties at the height of the real estate boom.
  • We're All Working for The Government now.

    06/21/2010 8:15:03 AM PDT · by Chunga85
    LivingLies ^ | 6/20/2010 | Neil Garfield
    ~snip~ Here is how the narrative ran. The trillion dollar banks and some “smaller” ones used all their influence over the media and lawmakers to get the narrative going in the direction of “why should anyone get a free house?” or “Why should HE get a break on HIS mortgage just because he stopped making payments? I’ve been the good citizen making my payments and I don’t see anyone giving me a break.” The answer is as simple as it was when I first voiced it three years ago. This is not a mortgage problem, it is a fraud problem...
  • FBI to Target Mortgage Fraud

    06/16/2010 10:59:06 AM PDT · by Chunga85 · 21 replies · 530+ views
    Financial Times ^ | 6/11/2010 | Suzanne Kapner
    The Federal Bureau of Investigation is preparing a nationwide crackdown on mortgage fraud, the latest in a series of efforts to curb lending practices that contributed to the housing meltdown, according to people familiar with the matter. The FBI is preparing to arrest hundreds of people across the US as early as next week for offences including encouraging borrowers to falsify income on mortgage applications, misleading home owners about foreclosure rescue programmes, and inflating home appraisals, said two people with knowledge of the operation. An FBI spokesman declined to comment.
  • A Tiny little website SPANKS THE BANKSTERS!

    06/15/2010 11:33:37 AM PDT · by Chunga85 · 11 replies · 554+ views
    Palm Beach Post ^ | 6/15/2010 | Kim Miller
    snip1> Foreclosure case dismissed after judge finds he’s been misled by alleged lender by Kim Miller A foreclosure case against a St. Johns County couple was dismissed last week following confusion and possible deliberate “fraud upon the court” concerning the actual owner of the promissory note. Foreclosurehamlet.org highlighted the case on its Web site and it appears to follow a judicial trend where judges are paying closer attention to who actually owns the note and whether the entity even has a right to foreclose. snip1> snip2> "According to the June 10 ruling in St. Johns, the plaintiff originally said the...
  • An Open Letter to Sheila Bair, Chairperson, FDIC

    06/10/2010 6:50:03 AM PDT · by Chunga85 · 23+ views
    National WAMU Homeowners Support Group ^ | 06/08/2010 | Jeffrey A. Brode
    FDIC Mission, Vision, and Values Mission The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by: * insuring deposits, * examining and supervising financial institutions for safety and soundness and consumer protection, and * managing receiverships. Vision The FDIC is a recognized leader in promoting sound public policies, addressing risks in the nation's financial system, and carrying out its insurance, supervisory, consumer protection, and receivership management responsibilities. Values The FDIC and its employees have a tradition of distinguished public service. Six core values guide...
  • Voodoo Used to Influence Outcome of Mortgage Fraud Case

    06/09/2010 10:08:25 PM PDT · by DogByte6RER · 8 replies · 56+ views
    Mortgage Fraud Blog ^ | June 7, 2010 | Mortgage Fraud Blog
    Voodoo Used to Influence Outcome of Mortgage Fraud Case Ruben Hernandez, 34, California, owner of Downey Motorcars, and co-defendant Joel Rodriguez, 45, a California resident, owner of Coast to Coast Mortgage, were sentenced in a mortgage fraud case. Hernandez and Rodriguez were convicted by a jury on May 6, 2010. Hernandez was found guilty of four counts of filing a false application and three counts of grand theft. He received a 12 year sentence. Rodriguez was convicted of six counts of filing a false application and five counts of grand theft. He received a 12 year, 8 month sentence. Hernandez...
  • One Lawsuit to Stop Them All (Revisited)

    06/09/2010 6:31:54 AM PDT · by Chunga85 · 31 replies · 40+ views
    The Real Revolutionaries ^ | 6/9/2010 | Paul L. Muckle
    UNITED STATES COURT OF APPEALS FOR THE FIRST CIRCUIT --------------------------------- Civil Action. 07-11437-DPW PAUL L. MUCKLE, ET AL. Plaintiffs, Appellants, V. FREMONT INVSTMENT AND LOANS, ASC/WELLS FARGO, U.S. BANK NATIONAL ASSOCIATES, S.G. MORTGAGE SBAC, THE ENTIRE MORTGAGE INDUSTRY, THE SECURITIES/ DIVIDENT INDUSTRY, ET AL. Defendants, Appellees -------------------------------------------- & Civil Action - 09-10678-DPW PAUL L. MUCKLE, Plaintiff, Appellant. V. UNITED STATES OF AMERICA, PRES. BARACK H. OBAMA, PRES. GEORGE W. BUSH, TIMOTHY GEITHNER, HENRY M. PAULSON JR., WILLIAM H. DANOLDSON, THE GOVERNORS OF ALL 50 STATES, ET, AL. Defendants, Appellees
  • Judge James L. Shumate Orders Halt to Bank of America Foreclosures in Utah.

    06/06/2010 6:42:28 AM PDT · by Chunga85 · 176 replies · 1,974+ views
    KCSG Television ^ | 6/5/2010 | Morgan Skinner
    (St. George, UT) June 5, 2010 – A court order issued by Fifth District Court Judge James L. Shumate May 22, 2010 in St. George, Utah has stopped all foreclosure proceedings in the State of Utah by Bank of America Corporation, ; Recontrust Company, N.A; Home Loans Serving, LP; Bank of America, FSB; snip> The attorney’s for Bank of America promptly filed to move the case to federal court to avoid having to deal with the Judge who is not unaccustomed to high profile cases and has a history of watching out for the “little people” and citizen’s rights.
  • Former Mortgage Broker Sentenced to 25 Years in Prison

    05/04/2010 5:35:09 PM PDT · by Larry381 · 10 replies · 454+ views
    Department of Justice ^ | May 4, 2010 | United States Attorney's Office Northern District of Georgia
    ATLANTA—EDWARD WILLIAM FARLEY, 47, of Hoschton, Georgia, was sentenced today by United States District Judge Timothy C. Batten, Sr. to serve 25 years in federal prison on charges of bank fraud and conspiracy involving mortgage fraud, a real estate investment “Ponzi” scheme with over 100 victims, a check-kiting scheme, and bankruptcy fraud. WALTER JULIUS HERMANN, 41, of Dunwoody, Georgia, was also sentenced by Judge Batten to serve over two years in federal prison on charge of bank fraud involving real estate appraisals he submitted in the FARLEY mortgage fraud scheme. United States Attorney Sally Quillian Yates said, “Not only did...
  • Inland Swindler Awaiting Sentencing Commits Suicide (Calfornia Mortgage Fraud/Ponzi Scheme)

    02/25/2010 6:33:58 PM PST · by DogByte6RER · 13 replies · 671+ views
    The Press-Enterprise ^ | Tuesday, February 23, 2010 | RICHARD BROOKS and LESLIE BERKMAN
    Inland swindler awaiting sentencing commits suicide By RICHARD BROOKS and LESLIE BERKMAN The Press-Enterprise An admitted swindler has hanged himself in Palm Desert where he was awaiting sentencing to as much as 32 years in federal prison for filing false tax returns and for his role in a mortgage and security scheme that prosecutors say cost investors $142 million. Christopher J. Oetting was found dead at 7:50 p.m. Feb. 16 at his home along the 40000 block of Sagewood Drive. He was free on $225,000 bond. Oetting pleaded guilty Dec. 21 in federal court in Los Angeles to money-laundering, conspiracy...
  • Feds charge 10 in $15 million mortgage scheme

    11/03/2009 8:02:49 AM PST · by cll · 9 replies · 535+ views
    Caribbean Business ^ | 11/03/2009 | John Marino
    Federal authorities were rounding up Tuesday morning 10 people, including singer Aldo Matta and a local developer, after a federal grand jury indicted them in a $15 million mortgage fraud scheme, FBI Special Agent in Charge Luis Fraticelli said. U.S. Attorney Rosa Emilia Rodríguez scheduled an 11:30 a.m. press conference to discuss the arrests, which reportedly took place in San Juan, Bayamón, Caguas and the state of Florida. The victims of the fraud were reportedly several local financial institutions, the FBI chief said. The indictments were handed up Oct 30. “These people were dedicated to a fraud scheme that took...
  • Stop the vendetta against ACORN

    10/31/2009 10:59:18 PM PDT · by Jet Jaguar · 43 replies · 1,892+ views
    .baltimoresun.com/ ^ | October 31, 2009 | Some libtard
    Some of my best friends have worked for ACORN. They are honest, dedicated and moral individuals who appreciated the mission of this group, which has done so much good for some of our poorest citizens. So I take it personally when Congress reduces ACORN to an object lesson about the purported immorality of some community organizers. ACORN isn't perfect. Both its loose organizational supervision and occasional zealotry of its organizers have led to abuses. But Congress has been extremely hypocritical and biased in cutting off federal funds. When two conservative activists posed as a pimp and a prostitute and with...
  • Panel sends Countrywide Subpoena

    10/24/2009 7:23:56 AM PDT · by Dubya-M-DeesWent2SyriaStupid! · 23 replies · 1,537+ views
    politico.com ^ | October 23, 2009 | By JAKE SHERMAN
    Republicans and Democrats on the House Oversight and Government Reform Committee agreed Friday night on language for a wide-reaching subpoena of Countrywide Financial’s VIP lending program as part of an investigation into allegations of influence peddling by the company at all levels of government, committee aides said. The subpoena, which was sent out Friday night, will ask the lender to fork over documents relating to its “Friends of Angelo” program – named for CEO Angelo Mozilo, who allegedly offered favorable mortgage rates to persons of influence.
  • Title Agent Indicted in Maryland Mortgage Fraud Scheme

    08/13/2009 4:55:56 PM PDT · by Larry381 · 1 replies · 387+ views
    Department of Justice ^ | August 12, 2009 | United States Attorney's Office District of Maryland
    BALTIMORE, MD—A federal grand jury has indicted Jay Leonard, age 43, of Alexandria, Virginia, today for mail and wire fraud in connection with scheme involving the fraudulent purchase of 25 properties in Maryland, the District of Columbia and Virginia and a scheme to solicit investors for a resort property that did not exist, announced United States Attorney for the District of Maryland Rod J. Rosenstein. The indictment was returned on August 11, 2009 and Leonard is scheduled to have his initial appearance in U.S. District Court in Baltimore today at 3:00 p.m. According to the nine count indictment, February 2006...
  • Maryland Man Sentenced in Mortgage Fraud Scheme

    08/13/2009 4:44:41 PM PDT · by Larry381 · 2 replies · 374+ views
    Department of Justice ^ | August 12, 2009 | United States Attorney's Office District of Maryland
    GREENBELT, MD—U.S. District Judge Deborah K. Chasanow sentenced Earnest Lewis, age 52, of Takoma Park, Maryland, today to 54 months in prison, followed by three years of supervised release, for conspiracy to commit wire fraud arising from a scheme in which the conspirators offered to help financially vulnerable individuals save their homes from foreclosure, and instead defrauded homeowners and mortgage lenders, announced United States Attorney for the District of Maryland Rod J. Rosenstein. Lewis previously agreed to forfeit $2,228,878, generated as proceeds of the criminal activity and Judge Chasanow will rule on that and the restitution amount at a later...
  • “Home Savers” and Misbehaviors! FBI Arrests Two in Foreclosure Scheme

    08/06/2009 11:13:01 AM PDT · by Larry381 · 462+ views
    Department of Justice ^ | August 5, 2009 | FBI Newark
    NEWARK, NJ—It’s the type of story that is becoming increasingly more common: FBI Special Agent In Charge Weysan Dun announced today the arrests of GARTH CELESTINE, age 44, of 535 Dean Street, Apartment 515, Brooklyn, New York; and PHIL A. SIMON, age, 34, of Brooklyn – both better known collectively as “Home Savers Consulting Corporation”. Both were arrested this morning at their residences without incident and charged with attempt and conspiracy to commit wire fraud in connection with a home foreclosure scheme. Celestine and Simon owned and operated Home Savers, which held itself out as a foreclosure rescue company, at...
  • Forty-One Charged in Florida for Mortgage Fraud Schemes

    07/29/2009 4:40:52 PM PDT · by Larry381 · 6 replies · 1,135+ views
    Department of Justice ^ | July 28, 2009 | United States Attorney's Office Southern District of Florida
    Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, Michael K. Fithen, Special Agent in Charge, U.S. Secret Service, Antonio J. Gomez, Acting Inspector in Charge, U.S. Postal Inspection Service, Miami Division, Michael J. Folmar, Acting Special Agent in Charge, Federal Bureau of Investigation (FBI), Jon T. Rymer, Inspector General, Federal Deposit Insurance Corporation-Office of Inspector General (FDIC-OIG), Kenneth M. Donohue, Inspector General, U.S. Department of Housing and Urban Development-Office of Inspector General (HUD-OIG), Miami Field Office, Linda Charity, Acting Commissioner, State of Florida Office of Financial Regulation, and Robert Parker, Director, Miami-Dade Police Department, announced...
  • Six Mortgage Industry Insiders Charged by FBI and IRS

    07/28/2009 2:39:55 PM PDT · by Larry381 · 6 replies · 480+ views
    FBI Newark ^ | July 27, 2009 | FBI Newark
    NEWARK, NJ—FBI Special Agent In Charge Weysan Dun announced today the arrest of Daniel Verdia, Don Apolito, Jaye Miller, and Chrystal Paling (all on Tuesday, July 21), as well as the surrender of Robert Gorman and Philip Blanch (on Friday, July 24)—all in connection with a mortgage fraud scam operated out of an office in Hasbrouck Heights, New Jersey. All of the arrests occurred without incident. The six defendants are each charged with one count of wire fraud, in a joint investigation between the FBI and IRS titled “Operation Follow The Money.” The investigation centered around activities occurring between February...
  • Virginia Man Sentenced 42 Months for Mortgage Fraud Scheme

    07/27/2009 4:13:31 PM PDT · by Larry381 · 2 replies · 221+ views
    Department of Justice ^ | July 27, 2009 | United States Attorney's Office Eastern District of Virginia
    ALEXANDRIA, VA—Richard A. Forde, also known as Euburn Richard Forde, age 51, formerly of Great Falls, Va., was sentenced today to 42 months in prison for his role in a mortgage fraud scheme from approximately December 2001 to January 2004. Dana J. Boente, United States Attorney for the Eastern District of Virginia; W. Clarkson McDow, Jr., United States Trustee; and Joseph Persichini Jr., Assistant Director in Charge of the FBI’s Washington Field Office, made the announcement after sentencing by United States District Judge Anthony J. Trenga. In addition his prison term, Forde was sentenced to three years of supervised release...
  • Missouri Mortgage Broker Pleads Guilty to Mortgage Fraud Scheme

    07/21/2009 2:56:40 PM PDT · by Larry381 · 1 replies · 219+ views
    Department of Justice ^ | July 21, 2009 | United States Attorney's Office Western District of Missouri
    SPRINGFIELD, MO—Matt J. Whitworth, Acting United States Attorney for the Western District of Missouri, announced that a former mortgage broker pleaded guilty in federal court today to her role in a $500,000 mortgage fraud scheme. Cheryl Joan Kassebaum, 43, of Ozark, Mo., pleaded guilty before U.S. Magistrate Judge James C. England to the charges contained in a Nov. 20, 2008, federal indictment. Kassebaum, a former mortgage broker and co-owner of Metro Consulting Group, admitted that she participated in a scheme to defraud home mortgage lenders from March to July 2006. Kassebaum participated in a conspiracy to obtain mortgage loans for...
  • Father, Daughter, Wife Indicted in Mortgage Fraud Conspiracy In Texas

    07/21/2009 2:53:07 PM PDT · by Larry381 · 6 replies · 472+ views
    Department of Justice ^ | July 21, 2009 | United States Attorney's Office Southern District of Texas
    HOUSTON—An 11-count sealed indictment charging conspiracy and wire fraud has been unsealed following the arrests of Claymon "Butch" Trammell, Michelle Trammell, and Jeannettea Williams, United States Attorney Tim Johnson announced today. Claymon Trammell operated real estate and home repair companies in the Houston area. Michelle Trammell, Claymon Trammell's daughter, operated as a mortgage broker while Jeannettea Williams, Claymon Trammell's wife, operated as a real estate agent. Claymon Trammell, 59, of Manvel, Texas; Michelle Trammell, 37, of Katy, Texas; and Jeannettea Williams, 54, of Manvel, Texas, are charged for their alleged involvement in a scheme to defraud residential mortgage lenders out...
  • Orlando Man Pleads Guilty to Arranging Fraudulent Mortgages

    07/17/2009 6:09:43 PM PDT · by Larry381 · 4 replies · 298+ views
    Department of Justice ^ | July 16, 2009 | United States Attorney's Office Middle District of Florida
    ORLANDO, FL—United States Attorney A. Brian Albritton announces that Garry S. Martin (age 36, of Orlando) has pleaded guilty to conspiring to commit money laundering in connection with various mortgage fraud schemes. Martin faces a maximum penalty of 20 years in federal prison. According to the plea agreement, Martin was convicted in the United States District Court for the Eastern District of New York in 2006 for engaging in mortgage fraud. Martin had made several applications to secure mortgages from Citimortgage, Inc., a subsidiary of CitiBank. Those applications contained several false statements, including inflated values for the borrower’s income and...
  • Maryland Man Sentenced in Connection with $35 Million Mortgage Fraud Scheme (10YRS)

    07/10/2009 5:16:50 PM PDT · by Larry381 · 1 replies · 282+ views
    Department of Justice ^ | July 10, 2009 | United States Attorney's Office District of Maryland
    GREENBELT, MD—U.S. District Judge Roger W. Titus sentenced Kurt Fordham, age 39, of Ft. Washington, Maryland, today to 10 years 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 their homes and repair their damaged credit, announced United States Attorney for the District of Maryland Rod J. Rosenstein. Judge Titus also ordered Fordham to pay restitution of $13,131,287.63, and forfeit three residential properties in Oxon Hill, Capitol Heights and Laurel, Maryland, and three vehicles. According to...
  • Forty-One Defendants Charged in Five New Area Mortgage Fraud Cases (IL)

    06/24/2009 3:37:01 PM PDT · by Larry381 · 1 replies · 666+ views
    Department of Justice ^ | June 23, 2009 | United States Attorney's Office Northern District of Illinois
    CHICAGO—Forty-one defendants are facing federal charges relating to various mortgage fraud schemes in five separate cases made public today by federal law enforcement officials. In some of the schemes, the defendants were charged with falsely inflating the values of dilapidated homes in urban areas. Other schemes feature a twist where defendants were charged with deals involving million-dollar condominiums in a Chicago high-rise and sprawling homes in affluent suburbs. A total of 37 individuals and four businesses, including a title company that closed on allegedly fraudulent loans, are facing new federal charges relating to mortgage fraud in five separate cases in...
  • Feds: Fraud used to get loans for Streeterville condos

    06/23/2009 2:56:25 PM PDT · by Kartographer · 6 replies · 420+ views
    ChicagoBusiness.com ^ | 6/23/09 | Alby Gallun and Thomas A. Corfman
    A federal grand jury has indicted 10 people in an alleged mortgage-fraud scheme that allowed them to obtain $17.2 million in loans to buy condominiums in a downtown high-rise. Acting together, the investors provided false information about their employment, income and assets to secure the loans to finance seven condos and two townhomes at Millennium Centre, a 59-story tower at 33 W. Ontario St., according to the U.S. Attorney’s Office. The indictment is one of five mortgage-fraud cases involving more than $48 million in loans that the U.S. attorney’s office announced Tuesday
  • Federal Jury Convicts San Antonio Woman of Contempt and Mail Fraud in Foreclosure Prevention Scheme

    06/18/2009 4:16:51 PM PDT · by Larry381 · 227+ views
    Department of Justice ^ | June 17, 2009 | United States Attorney's Office Western District of Texas
    John E. Murphy, Acting United States Attorney, announced that a federal jury this morning returned a guilty verdict against a San Antonio woman, who claimed to be a foreclosure prevention specialist, on seven counts each of criminal contempt and mail fraud. The jury found that since January 2000, 55-year-old Rosario Divins of San Antonio engaged in a fraudulent foreclosure prevention scheme. Testimony during the three-day trial revealed that Divins unjustly enriched herself by collecting over $100,000 in cash from individuals in desperate financial situations who responded to her mailout offering to stop their residential foreclosures. Divins continued to implement her...
  • Philadelphia Man Sentenced for Mortgage Fraud and Identity Theft (151 months)

    06/17/2009 4:00:57 PM PDT · by Larry381 · 22 replies · 423+ views
    Department of Justice ^ | June 16, 2009 | United States Attorney's Office Eastern District of Pennsylvania
    PHILADELPHIA—Mahn Huu Doan, a/k/a "Bruce Doan", 40, of Philadelphia, was sentenced today to 151 months in prison for a massive mortgage fraud and identity theft scheme, announced United States Attorney Michael L. Levy. Doan, a self-described real estate investor, would purchase houses, using false or borrowed identities, using government insured loans which he secured using fraudulent information. Doan's scheme also involved fraudulent appraisals that inflated the value of the houses for the purpose of resell the properties for a higher profit. In addition to the prison term, U.S. District Judge Michael M. Baylson also ordered Doan to pay more than...
  • Montclair (NJ) Man Pleads Guilty to 139 Million Scheme That Bankrupted New Jersey Mortgage Co

    06/12/2009 2:59:47 PM PDT · by Larry381 · 1 replies · 367+ views
    Department of Justice ^ | June 11, 2009 | United States Attorney's Office District of New Jersey
    NEWARK, N.J.—A Montclair man pleaded guilty today to mail and wire fraud and money laundering charges in connection with a $139 million fraud scheme that bankrupted Pine Brook-based U.S. Mortgage Corp. and its subsidiary, CU National Mortgage, LLC, Acting U.S. Attorney Ralph J. Marra, Jr. announced. Michael J. McGrath, Jr., 46, the former president and director of U.S. Mortgage, pleaded guilty before U.S. District Judge Katharine S. Hayden to one count of mail and wire fraud conspiracy, which carries a statutory maximum prison sentence of 20 years, and one count of money laundering conspiracy, which carries a statutory maximum prison...
  • Mortgage Fraud Violator Sentenced to 65 Months in Prison (FL)

    06/04/2009 5:41:36 PM PDT · by Larry381 · 182+ views
    Department of Justice ^ | June 3, 2009 | United States Attorney's Office Southern District of Florida
    R. Alexander Acosta, United States Attorney for the Southern District of Florida, and Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation, announced that defendant Jose G. Martin was sentenced today by U.S. District Court Judge Marcia Cooke to sixty five months in federal prison, to be followed by three years of supervised release. Judge Cooke also ordered a restitution hearing to determine the identity of the victims to be paid by Martin in connection with the $3,198,278 in restitution for losses that resulted from Martin’s participation in a mortgage fraud scheme. Defendant Jose G. Martin was arrested...