David Saks' Blog

Follow me
By
Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2011 

Woman Admits Straw Buyer Scheme Paige Kinney, aka JaimeLee Lawler, 42, Phoenix, Arizona, pleaded guilty in two separate cases in federal district court. In one case, Kinney admitted to her leadership role in a $40 million mortgage fraud involving Countrywide Home Loans, and in the second case, s...
06/08/2011
Jury Convicts Man of Straw Buyer Scam John Anthony Spencer, 31, Albertville, Minnesota, was convicted by a federal jury for his role in orchestrating a mortgage fraud scheme that caused losses to lenders exceeding $4.6 million. Trial evidence showed that Spencer brokered fraudulent loans which w...
06/08/2011
5 Indicted for $15.7M Mortgage Fraud Scheme Edward Renko, 49, Glenview, Illinois, who was chief executive officer of the now-defunct EAG Capital Holdings, Inc.-was charged with two counts of wire fraud and one count each of bank fraud and making a false statement to influence the action of a ban...
06/08/2011
Broker Allegedly Steals Loan Funds  John Edward Pitlick, 44, Shoreview, Minnesota, appeared before Chief U.S. District Judge Karen E. Schreier on June 2, 2011, and pled guilty to the indictment that charged him with mail fraud. The maximum penalty upon conviction is 20 years in prison and/or a $...
06/08/2011
Man Sentenced for Mortgage Fraud and Foreclosure Rescue Scam George Eggleston, 65, Las Vegas, Nevada, was sentenced by United States District Judge Lawrence J. O'Neill to six years and nine months in prison, to be followed by three years of supervised release. Eggleston had previously pleaded gu...
06/07/2011
Irvine, California Fugitive Sought in Loan Mod, Refinance Scam James Toufic Assali, 36, Irvine, California, the owner of a Costa Mesa, California-based mortgage refinance company and escrow business, is charged in a large fraudulent rate-lock loan modification scheme targeting mostly out-of-stat...
06/07/2011
Former President of Long Island Real Estate Firm Sentenced in Manhattan Federal Court to 51 Months in Prison for Stealing $1.5 Million in Fraudulent Real Estate Schemes U.S. Attorney's Office June 07, 2011   PREET BHARARA, the United States Attorney for the Southern District of New York, announce...
06/07/2011
                                                  #1170 When we talk about a title which is taken in fee simple we're talking about a title that lasts forever and can be inherited or disposed of according to the owners wishes. Is this true or false ? Take your time. Thye solution is posted below ...
06/05/2011
                                                    #1169 When one considers the four unities of possession, interest, time and title  these unities are necessary to create a tenancy in common. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Posse...
06/05/2011
                                                          #1168 If a title is conveyed and a condition is written into the conveyance stating that no flea market activities may be held on the property this type of title is called a life estate. True or false ? Remember to take your time. The solu...
06/05/2011
Rainmaker
1,572,727

David Saks

Broker / Industry Analyst
Contact The Author

Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
Nothing will be published that has not been verified via the public record or consent provided.
The use of the names or initials of the Federal Bureau of Investigation, the Drug Enforcement Administration, and the United States Marshals Service is governed by 18 U.S.C. sec. 709, which prohibits their unauthorized use in a manner calculated to convey the impression that such use is approved, endorsed, or authorized by that component, unless written permission has been received from the head of the respective component.
Where initials are found within this blog site they are not used in a manner calculated to convey the impression that such use is approved, endorsed or authorized by that component.
Please see the Department of Justice Legal Policies at:
http://www.justice.gov/legalpolicies
Please contact David with any questions.

Photos © & Licensed by Nova Development