PREET BHARARA, the United States Attorney for the Southern District of New York, announced that ELVISTON RAMASIR, the former president of Home Free Realty, Inc., a Long Island real estate services company, was sentenced yesterday to 51 months in prison for committing two separate real estate fraud schemes, to which he pled guilty in January 2011. In one scheme, he stole approximately $1.5 million from an investor by promising huge rates of … (2 comments)
real estate fraud: Two Houston Men Sentenced to Prison for Mortgage Fraud
- 06/01/11 01:03 PM
Two Houston Men Sentenced to Prison for Mortgage Fraud HOUSTON-Adrian Levale Cole and Albert Terrance Watkins, both of Houston, have been sentenced to prison for their roles in a multi-million-dollar mortgage fraud scheme, United States Attorney José Angel Moreno announced today. Cole, 40, owned and operated the "fictitious" companies AC Homes and WT Homes and generated more than $10 million in fraudulent home loan submissions at and through Phantom Marketing, Capri Mortgage, and United National Mortgage by recruiting borrowers with good credit in Houston and the surrounding area. He pleaded guilty to wire fraud and false representation of Social Security … (6 comments)
real estate fraud: Pennsylvania Loan Processors Sentenced to Prison for Mortgage Fraud
- 05/31/11 10:52 AM
Loan Processors Sentenced in Mortgage Fraud Scheme PHILADELPHIA-Kirk H. Kirby, 40, of Capital Heights, Maryland, and Sholonda Y. Johnson, 39, of Philadelphia, were sentenced today to 60 months and 30 months in prison, respectively, in connection with a real estate investment scheme, announced United States Attorney Zane David Memeger. Kirby and Johnson pleaded guilty to three counts each of wire fraud in connection with a real estate investment scheme that caused millions of dollars in losses to lenders. Kirby owned and operated Invictus Financial Group ("IFG"), located in Havertown, PA. Johnson was a loan officer at various mortgage brokerage companies. Kirby … (0 comments)
real estate fraud: Two Sisters, Both Former Real Estate Professionals, Sentenced to Prison for Mortgage Fraud Scheme in Vallejo
- 05/27/11 12:59 PM
Former Real Estate Professionals Sentenced for Mortgage Fraud Scheme in Vallejo SACRAMENTO, CA-United States Attorney Benjamin B. Wagner announced that United States District Judge Morrison C. England, Jr. sentenced Ralondria Stafford, 37, of San Francisco, and Necole Ward, 32, of Las Vegas, (both formerly of Vallejo, Calif.) for their roles in a mortgage fraud scheme carried out in Vallejo between 2005 and 2006. Judge England sentenced Stafford to 21 months in prison and Ward to 12 months and a day in prison. The prison sentences are to be followed by three years of supervised release and both defendants were ordered to … (2 comments)
real estate fraud: Three Indicted in Multiple Mortgage Fraud Schemes Involving 13 Properties in Five Rhode Island Communities Totaling More Than $3.5 Million
- 05/26/11 01:26 PM
Three Indicted in Multiple Mortgage Fraud Schemes Involving 13 Properties in Five Rhode Island Communities Totaling More Than $3.5 Million PROVIDENCE, RI-A federal grand jury in Providence on Tuesday returned indictments against a loan officer and a loan processor employed at the same mortgage company, and a former Rhode Island attorney currently involved in the real estate industry in an alleged "straw borrowing" scheme that netted more than $3.5 million dollars in fraudulently obtained mortgages on 13 properties in five Rhode Island communities, it was announced by United States Attorney Peter F. Neronha. The grand jury returned a 13-count indictment … (0 comments)
real estate fraud: Tampa Mortgage Fraud Defendant Sentenced to Prison
- 05/26/11 12:10 PM
Mortgage Fraud Defendant Sentenced to Prison TAMPA, FL-U.S. Attorney Robert E. O'Neill announces that U.S. District Judge Susan C. Bucklew today sentenced Sang Min Kim, a/k/a Sonny Kim (37, Tampa) to 41 months in federal prison for conspiracy to commit wire, mail, and bank fraud and money laundering in connection with a mortgage fraud scheme. As part of his sentence, the court entered a money judgment in the amount of $5,826,778.65, the proceeds of the charged criminal conduct. Kim pleaded guilty on June 29, 2010. According to court documents, from about January 2005 through October 2008, Kim engaged in numerous … (3 comments)
real estate fraud: Lancaster County Pennsylvania Woman Sentenced to 57 Months In Prison for Fraud
- 05/25/11 02:17 PM
Lancaster County Pennsylvania Woman Sentenced for Wire Fraud Peter J. Smith, United States Attorney for the Middle District of Pennsylvania, announced a Lancaster County woman was sentenced today to 57 months' incarceration following her conviction last September on charges she defrauded a local real estate settlement firm and a national real estate title insurance company out of more than $258,894. Following a three-day jury trial before U.S. District Court Judge William W. Caldwell in Harrisburg, Shawn Chambers-Galis, age 48, of Mt. Joy, Pennsylvania, was convicted of wire fraud. Testimony at the trial revealed that between 2005 and 2007 Chambers-Galis diverted more … (1 comments)
real estate fraud: Final Defendant Sentenced to 70 Months for Involvement in Large-Scale Mortgage Fraud Ring In Massachusettes
- 05/25/11 12:59 PM
Final Defendant Sentenced to 70 Months for Involvement in Large-Scale Mortgage Fraud Ring BOSTON, MA-Late yesterday, a loan originator, the 12th and final defendant in a large-scale mortgage fraud ring, was sentenced in federal court for his role in fraudulent property transactions that were part of a larger mortgage fraud conspiracy involving 21 property deals and more than $10.6 million in loan proceeds. In February, Appolon was convicted of wire fraud and conspiring to commit wire fraud following a nine-day jury trial. Ralph Appolon, 30, formerly of Watertown, was sentenced by U.S. District Judge George A. O'Toole, Jr. to 70 … (0 comments)
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Courtesy Rachel Dollar - Mortgage Fraud Blog
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