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 

Short Sale Fraudster Goes to Jail Anna McElaney, 40, Norwalk, Connecticut, was sentenced by United States District Judge Janet C. Hall in Bridgeport, Connecticut to eight months of imprisonment, followed by three years of supervised release, the first six months of which McElaney must spend in h...
07/27/2011
Woman Charged for Downpayment Kickback Scam Lindsey Rae Loyear, , 29, St. Paul, Minnesota, was charged with participating in a scheme to defraud mortgage lenders out of more than $5 million. Loyear was charged via an information with one count of conspiracy to commit mortgage fraud. Allegedly fro...
07/27/2011
Arizona Man Pleads Guilty to Paying Bribe in Scheme to Secure Streamlined Approvals for Short Sales U.S. Attorney’s Office Central District of California LOS ANGELES—An unlicensed real estate agent from Arizona has pleaded guilty to federal bribery charges for offering to pay thousands of dollars...
07/26/2011
Real Estate Agent Sentenced to Federal Prison for Defrauding Bank in Short Sale Mortgage Fraud Scheme U.S. Attorney’s Office District of Connecticut  David B. Fein, United States Attorney for the District of Connecticut, announced that ANNA McELANEY, 40, of Norwalk, was sentenced today by United ...
07/26/2011
St. Paul Woman Charged in Mortgage Fraud Scheme U.S. Attorney’s Office District of Minnesota MINNEAPOLIS—Late this past Friday afternoon a 29-year-old St. Paul woman was charged with participating in a scheme to defraud mortgage lenders out of more than $5 million. Lindsey Rae Loyear was charged ...
07/25/2011
Mortgage Broker Charged in $20 Million Mortgage Fraud Scheme U.S. Attorney’s Office July 25, 2011  District of Minnesota MINNEAPOLIS—This past Friday in federal court, an Edina mortgage broker was charged for his role in a $20 million mortgage fraud scheme that involved 57 properties. Derrick Iva...
07/25/2011
Federal Judge Sentences Fugitive Fraudster to More Than 17 Years in Federal Prison Defendant Michael R. Rouse, Co-Founder of the Golden Gate Real Estate Investment Trust (REIT), Sentenced in Absentia U.S. Attorney’s Office Northern District of Texas DALLAS—Michael R. Rouse, 56, was sentenced toda...
07/25/2011
                                                     #1240 One of the great benefits that a buyer has by signing a buyer's agency agreement is that they have access to confidential information about the seller's absolute lowest price for the property. Is this fact true or false ? (if you blow thi...
07/24/2011
                                                    #1239 A buyer's agent does not have the right to be be compensated by the seller. Is this true or false ? Take your time. The solution is posted below the wildlife photo.   A. False A buyer's agent may always accept a share of the commission tha...
07/24/2011
                                                  #1238 A contract is considered to be a void contract if it can't be enforced because of a statute of limitations. Is this true or false ? Take your time. The solution is posted bel;ow the royalty free wildlife photo.   A. False If a statute of lim...
07/24/2011
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