David Saks

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Education & Training - (retired) - 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

2012 

Former Mortgage R.E. Attorney’s Ponzi Scheme Defrauded Banks David L. Spector, 52, Needham, Massachusetts, a former Rhode Island and Massachusetts mortgage attorney, pleaded guilty to defrauding mortgage holders and lending institutions of more than $600,000.  Spector admitted to the court that b...
05/22/2012
5 Admit Million Dollar Mortgage Fraud Scheme Peter Kim, 39, Fairfax, Virginia, Bok Hee Lee, 37, South Riding, Virginia, Jai Sek Lee, 50, Ashburn, Virginia,  Jai Song, 41, McLean, Virginia, and Erin Cullen, 32, Fairfax, Virginia have each pled guilty (P.Lee, B. Lee, J. Lee, Song, Cullen) to conspi...
05/22/2012
Ringleader of Ohio Mortgage Scam Sentenced to 4 Years Nathan S. Orms, Phoenix, Arizona, has been sentenced to four and a half years in prison for leading a mortgage fraud ring. Orms was sentenced in Franklin County Common Pleas Court by Judge Richard S. Sheward. Orms was the ringleader of a mortg...
05/22/2012
Fraudster Receives 8 Year Sentence for Appraisal Fraud Anthony Jerdine, 41, Pepper Pike, Ohio, was sentenced to 105 months in prison after previously being found guilty of bank fraud. Jerdine pleaded guilty in February 2011, to numerous charges, including conspiracy to commit bank fraud and money...
05/22/2012
New Jersey Man Charged in Real Estate Investment Scam David M. Connolly, Watchung, New Jersey, has been charged with operating a Ponzi-like scheme involving a series of investment vehicles formed for the purported purpose of purchasing and managing rental apartment buildings in New Jersey and Pen...
05/22/2012
Man Charged with Fraud in Foreclosure Scam Rickey White, 46, Westland, Michigan, faces criminal charges for collecting upfront fees and impersonating a mortgage modification company. The investigation revealed that from December 2009 through May 2011 White allegedly operated two companies that we...
05/22/2012
Foreclosure Scam Artist Sentenced Marien Brown, Wentzville, Missouri, was sentenced to 18 months in prison, and ordered to pay approximately $250,000 restitution for falsely representing that she operated a "mortgage rescue" or "foreclosure rescue" service. As previously reported on Mortgage Frau...
05/22/2012
West Palm Beach Timeshare Boiler Room Manager Pleads Guilty to Fraud Charges U.S. Attorney’s Office May 22, 2012 Southern District of Florida (313) 226-9100   Breaking News, Financial, Fraud, Press Release   Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; and John...
05/22/2012
Strangest Real Estate Story of the Week Or the most gruesome story: A 63-year-old Tokyo man was arrested Friday after chopping off the left arm of an Utsunomiya real estate agency head with a samurai sword and seriously wounding two others. Hifumi Kuwada was arrested in the alleged attempted murd...
05/22/2012
                                                  #1662 An unsecured loan for 50 thousand dollars would be covered by the Truth In Lending Act. Is this fact true or false ? Please take your time. The solution is below the wildlife photo. A. False The Truth In Lending Act excludes consumer loans n...
05/21/2012
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David Saks

May God Bless You, Always. David
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