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Here's a retrospective of the past week's real estate fraud cases throughout the nation. It's bad ! Like it is every week ! real estate fraud: Riverdale Marina Real Estate Developer Arrested on Federal Charges - 04/21/14 08:20 AM |
real estate fraud: Chicago Real Estate Developer Arrested - 04/18/14 10:48 AM  Riverdale Marina Redeveloper Arrested on Federal Charges for Allegedly Defrauding the Village of $370,000 in Public Funds CHICAGO—A Chicago real estate developer was arrested today on federal charges alleging that he defrauded the south suburban Village of Riverdale of public funds provided for the redevelopment of the now closed-Riverdale Marina. The defendant, John Thomas, allegedly fraudulently obtained approximately $370,000 for himself from $900,000 in Tax Increment Financing (TIF) payments in 2012 and used the public funds to repay personal loans and debts, legal fees, rent, and other personal expenses. Thomas, 51, of Chicago, was charged with three counts of wire … (2 comments) |
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real estate fraud: Real Estate Investor Pleads Guilty to Bid Rigging and Fraud - 04/18/14 07:56 AM Georgia Real Estate Investor Pleads Guilty to Charges Related to Bid Rigging and Fraud at Public Foreclose Auctions Fourth Case Filed in George Real Estate Foreclosure Auctions Investigation WASHINGTON—A Georgia real estate investor pleaded guilty today to his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia, the Department of Justice announced. Felony charges were filed on March 25, 2014, in the U.S. District Court for the Northern District of Georgia in Atlanta, against Mohamed Hanif Omar. According to court documents, from at least as early as September 1, 2009 until at … (0 comments) |
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real estate fraud: Yet Another Reason to Avoid Facebook Like Bubonic Plague - 04/18/14 07:53 AM Convicted Ponzi Schemer Indicted on New Fraud and Other Charges NEWARK—An Ocean County, New Jersey man who was sentenced less than two months ago to 22 years in prison for running a Ponzi-style real estate scheme was indicted by a federal grand jury today on new charges of conspiracy, wire fraud, and transacting criminal proceeds while on pretrial release, U.S. Attorney Paul J. Fishman announced. Eliyahu Weinstein, 38, of Lakewood, New Jersey, was indicted on one count of conspiracy to commit wire fraud, five counts of wire fraud committed while on pretrial release, and seven counts of transacting in criminal … (4 comments) |
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real estate fraud: WOMAN SENTENCED TO MORE THAN 23 YEARS IN PRISON FOR REAL ESTATE FRAUD - 04/18/14 07:39 AM Augusta Businesswoman Sentenced to More Than 23 Years in Prison in Investor Fraud Scheme AUGUSTA, GA— Regina M. Preetorius, 47, of Augusta, Georgia was sentenced yesterday to 280 months in prison by U.S. District Court Judge J. Randal Hall for her role in a multi-million-dollar investor fraud scheme. After a lengthy jury trial in September 2013, Preetorius was convicted on eight counts of mail fraud, two counts of wire fraud, and three counts of money laundering. Evidence presented at trial and during sentencing showed that between 2004 and 2009, Preetorius defrauded dozens of investors of homes and over … (0 comments) |
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real estate fraud: Mortgage Fraud Blog for April 17 - 04/17/14 08:59 AM Mortgage Fraud Blog sends update emails once per week. You can change this setting to receive updates more or less often by following the link at the bottom of this email. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar Legal Disclaimer. The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and … (0 comments) |
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real estate fraud: Former City Clerk Sentenced for Embezzlement - 04/17/14 08:57 AM Former City Clerk in Havana Sentenced for Embezzlement WICHITA, KS—A former city clerk for the city of Havana, Kansas, was sentenced Wednesday to two years’ supervised release, U.S. Attorney Barry Grissom said. She also was ordered to pay a total of more than $59,000 in restitution to the city of Havana, Cross Point Baptist Church, and an insurance company. Diana L. Cox, 67, Havana, Kansas, pleaded guilty to one count of bank fraud and one count of wire fraud. In her plea, she admitted embezzling $14,658 from the city of Havana while she was working as city clerk. On August … (0 comments) |
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real estate fraud: Final Defendant Sentenced in Foreclosure Rescue/Marijuana Grow Scheme - 04/17/14 08:50 AM Final Defendant Sentenced in Foreclosure Rescue/Drug Distribution Scheme SHERMAN, TX—A 43-year-old McKinney, Texas man has been sentenced to federal prison in connection with a combination foreclosure rescue and drug distribution scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales. Julius Williams pleaded guilty on August 21, 2013, to conspiracy to commit mail and wire fraud and was sentenced to 46 months in federal prison today by U.S. District Judge Marcia Crone. Williams was also ordered to pay $1,432,208.00 million in restitution. According to information presented in court, from February 2007 to June 2012, Jarrod Williams, Julius … (0 comments) |
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real estate fraud: Former Construction Company Officer Nets Five Years in Prison - 04/17/14 08:46 AM Former Construction Company Officer Sentenced to Five Years in Prison for Fraud Conspiracy JACKSON, MS—H. Claiborne Frazier, of Jackson, was sentenced to serve 60 months in federal prison and pay a $10,000 fine for his role in a conspiracy with his brother, Austin W. Frazier, and his father, C.E. Frazier, Jr., to commit bank fraud, mail fraud, and wire fraud, announced U.S. Attorney Gregory K. Davis and FBI Special Agent in Charge Daniel McMullen. Frazier pled guilty to the charges on September 16, 2013. Austin and C.E. Frazier, Jr. were each sentenced on March 10, 2014. Austin W. Frazier was … (0 comments) |
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real estate fraud: Jury Convicts DBSI Principals of Fraud - 04/16/14 08:18 PM Jury Convicts DBSI Principals of Fraud U.S. Attorney Commends Work and Career of FBI Special Agent Rebekah Morse BOISE—A federal jury in Boise today returned guilty verdicts against four DBSI principals—Douglas L. Swenson, Mark Ellison, David D. Swenson, and Jeremy S. Swenson—on multiple fraud charges, announced U.S. Attorney Wendy J. Olson. The jury convicted Douglas Swenson, 65, of Eagle, Idaho, on 34 counts of wire fraud and 44 counts of securities fraud. The jury convicted Ellison, 65, of Boise, David Swenson, 36, of Boise, and Jeremy Swenson, 41, of Meridian, on 44 counts of securities fraud. The jury returned not guilty … (0 comments) |
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real estate fraud: Woman Nets 27 Months in Prison for Real Estate Investment Scheme - 04/16/14 08:14 PM Florida Woman Sentenced to 27 Months in Prison for Role in Real Estate Investment Scheme Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that Loretta Seneca, 51, of Boynton Beach, Florida, was sentenced today by U.S. District Judge Robert N. Chatigny in Hartford to 27 months of imprisonment, followed by three years of supervised release, for her role in a real estate investment scheme. Seneca was also ordered to serve the first six months of supervised release in home confinement and to perform 120 hours of community service. According to court documents and statements made in … (0 comments) |
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real estate fraud: Businessman Indicted for Bankruptcy Fraud - 04/11/14 04:08 PM Jackson Businessman Indicted for Bankruptcy Fraud JACKSON—William D. “Butch” Dickson, 58, of Jackson, was indicted by a federal grand jury on April 8, 2014, on six counts of bankruptcy fraud, six counts of bank fraud, and five counts of wire fraud, announced U.S. Attorney Gregory K. Davis and FBI Special Agent in Charge Daniel McMullen. According to the indictment, Dickson’s company, Community Home Financial Services (CHFS), is in Chapter 11 Bankruptcy in the Southern District of Mississippi Bankruptcy Court. Dickson is alleged to have illegally transferred $9,095,000 out of various bankruptcy escrow accounts to an account he controlled at Banco … (0 comments) |
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real estate fraud: Woman Sentenced to 30 Months for Swindling Elderly Woman Out of $99k - 04/10/14 04:47 PM West Orange Woman Sentenced to 30 Months in Prison for Stealing Nearly $100,000 from an Elderly Woman TRENTON, NJ—A West Orange, New Jersey woman who defrauded an elderly victim of nearly $100,000 by taking the victim’s Social Security payments and secretly applying for a reverse mortgage on the victim’s home was sentenced today to 30 months in prison, U.S. Attorney Paul J. Fishman announced. Shawn L. Craig, 47, previously pleaded guilty before U.S District Judge Michael A. Shipp to an information charging her with one count of mail fraud and one count of filing false personal federal income tax return … (2 comments) |
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real estate fraud: Lawyer Who Served as Escrow Officer is Sent to Federal Prison - 04/09/14 10:01 AM Purchaser and Seller in Loan Fraud Scheme are Sentenced DFW Lawyer Who Served as Escrow Officer in Scheme is Sentenced to Federal Prison for Covering Up the Bank Fraud DALLAS—Plano, Texas, residents, Vathany Teng, 43, and Lina Ma, 55, were sentenced yesterday for their roles in a loan fraud scheme they ran from August 2007 to April 2008 that resulted in the total funding of more than $3 million in fraudulent loans, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. U.S. District Judge David C. Godbey sentenced Teng to 27 months in federal prison and ordered him … (0 comments) |
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real estate fraud: Former Caseworker Guilty to Witness Tampering, False Statement to HUD - 04/09/14 09:55 AM Former Caseworker for the Dallas Project Reconnect Pleads Guilty to Witness Tampering, Making a False Statement to HUD, and Deprivation Under Color of Law DALLAS—Lawrence Hart, 37, appeared today before U.S. Magistrate Judge Renée Harris Toliver and pleaded guilty to a felony and misdemeanor Information charging various offenses stemming from his role as a caseworker for an outreach program that is managed by the city of Dallas’s Housing Department. The announcement was made today by U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Specifically, Hart pleaded guilty to one count of witness tampering, one count of making … (0 comments) |
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real estate fraud: Mortgage Fraud Blog Updates for April 9, 2014 - 04/09/14 05:34 AM Mortgage Fraud Blog sends update emails once per week. . The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Rachel sends this to me and I'm reblogging as a community service. … (4 comments) |
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real estate fraud: Philadelphia Man Guilty in Multi-Million-Dollar Mortgage Fraud Scheme - 04/08/14 07:24 PM Philadelphia Man Pleads Guilty in Multi-Million-Dollar Mortgage Fraud Scheme PHILADELPHIA—Eric Sijohn Brown, 46, of Philadelphia, pleaded guilty today to 20 counts in connection with a mortgage fraud scheme involving KREW Settlement Services. Brown pleaded guilty to conspiracy, two counts of FHA loan fraud, 12 counts of loan fraud, and three counts of tax evasion. Between May 2004 and February 2009, Brown and his co-conspirators inflated purchase prices on loan documents for more than 100 Philadelphia properties, resulting in more than $20 million in fraudulent loan proceeds. A sentencing hearing is scheduled for July 8, 2014. Brown faces a maximum possible … (0 comments) |
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real estate fraud: Two Plead Guilty to Federal Fraud Charges - 04/08/14 07:19 PM Two Area Businessmen Plead Guilty to Federal Fraud Charges ST. LOUIS, MO—Two area businessmen admitted to committing bank fraud against Excel Bank, which failed in 2012, after receiving $4,000,000 in capital from the Treasury Department through the Troubled Asset Relief Program (TARP). According to the plea agreements, James Crews and Michael Hilbert admitted to making false statements to Excel Bank with respect to escrow funds or “fix funds” set aside for repairs to rental homes financed through the bank. In reliance on Crews’ and Hilberts’ claims that work had purportedly been done on the rental properties, the bank disbursed the … (0 comments) |
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real estate fraud: Another Crooked Mortgage Broker Gets More Than 3 Years In the Slammer - 04/04/14 07:05 AM Annandale Mortgage Broker Sentenced to 38 Months in Prison for Involvement in Mortgage Fraud Scheme ALEXANDRIA, VA—Kil Seok (“Michael”) Seo, 49, formerly of Fairfax, Virginia, was sentenced today to 38 months in prison for engaging in bank fraud and aggravated identity theft as part of a mortgage fraud scheme. Seo also was ordered to pay restitution of $894,600 to several banks that were the victims of Seo’s criminal conduct. Dana J. Boente, Acting United States Attorney for the Eastern District of Virginia, and Valerie Parlave, Assistant Director in Charge of the FBI’s Washington Field Office, made the announcement following today’s … (2 comments) |
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real estate fraud: Former Bank CEO President Charged with Bank Fraud, Conspiracy, Perjury - 04/03/14 10:58 AM Former Bank CEO and President Charged with Bank Fraud, Conspiracy, and Perjury Earlier today, an indictment was unsealed charging Poppi Metaxas, the former chief executive officer (CEO) and president of Gateway Bank FSB (Gateway), with bank fraud, bank fraud conspiracy, and perjury. According to the indictment, in 2009, Metaxas fraudulently caused Gateway to execute a sham “round-trip” transaction in which the bank self-funded a down payment to make it appear that Gateway had sold toxic, non-performing mortgage loans. This morning, the defendant surrendered to federal agents in California and was arraigned at the federal courthouse in San Francisco, California. The … (0 comments) |
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