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Real Estate Fraud Report for November 5, 2014

By David Saks

Industry Observer TN LIC# 290452

November 04, 2014 01:38 PM

real estate fraud: Mortgage Fraud Blog for November 5, 2014 - 11/04/14 09:35 PM

real estate fraud: Alabama Real Estate Investor Guilty of Conspiracy to Commit Mail Fraud - 11/03/14 01:52 PM

Alabama Real Estate Investor Pleads Guilty to Conspiracy to Commit Mail Fraud
An Alabama real estate investor pleaded guilty yesterday for his role in a conspiracy to commit mail fraud related to public real estate foreclosure auctions held in southern Alabama, the Department of Justice announced today. To date, 10 individuals and two companies have pleaded guilty in connection with the department’s ongoing investigation into bid rigging and fraudulent schemes in the Alabama real estate foreclosure auction industry.
Chad E. Foster,
a resident of Theodore, Alabama, pleaded guilty yesterday to an indictment filed in the U.S. District Court for … (6 comments)

real estate fraud: Real Estate Fraud Report for November 2, 2014 - 11/02/14 09:04 AM

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real estate fraud: Mortgage Fraud Blog for November 2, 2014 - 11/02/14 09:02 AM

real estate fraud: Illinois Lawyer & Talk Show Host Convicted in $9.7 Mil Mortgage Fraud - 10/24/14 05:58 PM

Illinois Lawyer and Internet Radio Talk Show Host Convicted in $9.7 Million Mortgage Fraud Schemes
CHICAGO—An Illinois lawyer and Internet radio talk show host was convicted today on federal charges for engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million. The defendant, WARREN BALLENTINE, 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 and various southern suburbs.
Ballentine, 43, of Durham, N. Car., and formerly of Country Club Hills, owned the … (4 comments)

real estate fraud: Miami-Dade Residents Convicted in $8 Million Investment Fraud Scheme - 10/23/14 05:42 PM

Miami-Dade Residents Convicted in $8 Million Investment Fraud Scheme
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, announce that
Lawrence Foster,
49, of Miami Beach, the President of Paradise is Mine, was found guilty by a federal jury in Miami of conspiring to commit wire fraud and seven counts of wire fraud.
Johana Leon,
38, of Miami Beach, a corporate officer of Paradise is Mine, meanwhile, was found guilty of three counts of structuring currency transactions by the … (0 comments)

real estate fraud: Woman Sentenced in White Plains to 51 Months in Prison for Bank Fraud - 10/23/14 05:33 PM

Dutchess County Woman Sentenced in White Plains Federal Court to 51 Months in Prison for Wire Fraud, Filing False Claims, Bank Fraud, and Corruptly Interfering with the IRS
Defendant Ordered to Forfeit $96,000 in Gold and Silver She Had Bought with the Proceeds of Her Crimes Preet Bharara, the United States Attorney for the Southern District of New York, announced that

MELANIE FERREIRA

was sentenced yesterday afternoon in White Plains federal court to 51 months in prison following her conviction for engaging in a series of frauds, which included cheating the Internal Revenue Service (“IRS”) out of nearly … (2 comments)

real estate fraud: Fraudster Homebuilder Sentenced to 15 Years in Prison - 10/22/14 11:11 AM

Fraudster Homebuilder Sentenced to 15 Years in Prison for Defrauding Investors of $19.805 Million and Evading $2.6 Million in Taxes
“The Sentence Fits the Crime” BALTIMORE, MD—U.S. District Judge J. Frederick Motz today sentenced
Patrick J. Belzner,
a/k/a “Patrick McCloskey,” age 45, of Selbyville, Delaware
to 15 years in prison followed, by three years of supervised release, on charges of wire fraud conspiracy, wire fraud and tax evasion. Judge Motz also entered an order that Belzner pay $19.805 million in restitution.
The sentence was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Special Agent … (5 comments)

real estate fraud: Mortgage Fraud Blog for October 22, 2014 - 10/22/14 01:02 AM

real estate fraud: Couple Guilty of Stealing from Elderly Victim to Purchase Beach House - 10/20/14 01:16 PM

West Virginia Couple Guilty of Stealing from Elderly Victim to Purchase Beach House
WHEELING, WV—A Wetzel County couple was convicted in federal court of stealing nearly $400,000.00 from a 90-year-old victim in order to purchase a vacation home in the Outer Banks, United States Attorney William J. Ihlenfeld, II, announced today.
Following a three day trial,
Timothy Summers, 67,
and
Lea Ann Summers, 52,
of Proctor, West Virginia,
were found guilty of one count of conspiracy to commit mail fraud, four counts of mail fraud, one count of securities fraud, and one count of interstate transportation of … (10 comments)

real estate fraud: Real Estate Fraud Report for October 19, 2014 - 10/19/14 10:38 AM

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real estate fraud: Philadelphia EXIT Realty “Tri-State" Founder Charged With Ponzi Fraud - 10/16/14 02:44 PM

West Chester Woman Charged in Real Estate Ponzi Scheme
PHILADELPHIA—
Marie Mikesche Bontigao, 43,
of West Chester, PA,
was charged by indictment, unsealed yesterday, in a fraud scheme involving more than $2 million, announced United States Attorney Zane David Memeger. She is charged with wire and mail fraud.
Bontigao was a licensed real estate broker
who operated a franchise location of
EXIT Realty
in Philadelphia, New Jersey and Delaware and was the founder of the EXIT Realty “Tri-State Group: and “Tri-State Investment Holdings, Inc.” (T.R.I.H.I.).According to the indictment, between 2007 and 2013, Bontigao solicited individuals … (5 comments)

real estate fraud: Mortgage Fraud Blog for October 15, 2014 - 10/15/14 12:26 AM

Mortgage Fraud Blog sends me an update email 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. 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 should not be regarded, as legal advice. Much of the information on this site concerns … (6 comments)

real estate fraud: Real Estate Fraud Report for October 14, 2014 - 10/13/14 10:21 PM

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real estate fraud: Pastor Guilty of Embezzling More Than $900,000 from Community Center - 10/10/14 05:15 PM

Local Pastor Pleads Guilty to Embezzling More Than $900,000 from Community Center
TULSA, OK—
Willard Lenord Jones,
63, of Tulsa,
church pastor and former Executive Director of the Greater Cornerstone Community Development Project, pleaded guilty today before United States District Judge John E. Dowdell to three counts of wire fraud and one count of subscribing to a false tax return, announced U.S. Attorney Danny C. Williams Sr., for the Northern District of Oklahoma. Jones was charged by information on August 13, 2014, and sentencing is scheduled for January 12, 2015 at 10:00 a.m.
At the change of plea … (6 comments)

real estate fraud: Real Estate Fraud Report for October 8, 2014 - 10/08/14 12:32 AM

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real estate fraud: Mortgage Fraud Blog for October 8, 2014 - 10/08/14 12:29 AM

real estate fraud: Brother & Sister, One Other Person Guilty in $15 Mil Mortgage Fraud - 10/07/14 10:36 AM

Brother and Sister, One Other Person Convicted at Trial in $15 Million Mortgage Fraud Scheme
CAMDEN, NJ—A federal jury convicted a brother and sister and one other person today for conspiring to defraud financial institutions as part of a $15 million mortgage fraud scam that used phony documents and “straw buyers” to make illegal profits on overbuilt condos, U.S. Attorney Paul J. Fishman announced.
The jury returned the guilty verdicts after five hours of deliberation following a four-week trial before U.S. District Judge Jerome B. Simandle in Camden federal court.
Nancy Wolf-Fels, 57,
of Toms River, New Jersey;
… (2 comments)

real estate fraud: Home Builder Sentenced to 33 Months in Prison for Defrauding Investor - 10/07/14 10:27 AM

Madill Home Builder Sentenced to 33 Months in Prison for Defrauding Investor
OKLAHOMA CITY, OK—
STEVEN RUSSELL HART, 55,
of Madill, Oklahoma,
was sentenced last week to serve 33 months in prison for defrauding an Oklahoma City investor of more than $700,000, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.
During 2009, 2010, and 2011, Hart operated SRC Construction, Inc., which built homes in an Ardmore subdivision called “The Meadows.” He funded the construction through Texoma Land Development LLC, an Oklahoma City entity.
On October 15, 2013, a federal grand jury … (2 comments)

real estate fraud: California Real Estate Investor Guilty of Bid Rigging and Fraud - 10/06/14 01:03 PM

Northern California Real Estate Investor Agrees to Plead Guilty to Bid Rigging and Fraud at Public Foreclosure Auctions
Investigations Have Yielded 47 Plea Agreements to Date WASHINGTON—A Northern California real estate investor has agreed to plead guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced.
Felony charges were filed today in the U.S. District Court for the Northern District of California in Oakland against
Gernot Sebastian Zepernick
of Concord, Calif.
To date, 47 individuals have agreed to plead or have pleaded … (6 comments)

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