real estate fraud: 13 MORE CHARGED IN CALIFORNIA STRAW BUYER SCHEME - ALL DEFENDANTS RELATED - 23 DEFENDANTS CHARGED TO DATE - MASSIVE FRAUD SCHEME
- 11/29/11 06:35 PM
13 More Charged in California Straw Buyer Scheme Thirteen additional defendants were charged in two separate indictments in the Vera Kuzmenko mortgage fraud investigation in California. The current indictments bring the total charged in this investigation to twenty-three. The two most recent indictments involve some of the straw buyers that participated in the scheme. In an indictment returned Thursday, November 3, 2011, a federal grand jury charged the following defendants with mail fraud, wire fraud and money laundering: Zhora Darmoyan, 44, Rancho Cordova, California; Kristine Atoyan, 32, Sacramento, California; Marat Galoyan, 26, Sacramento; and Martin Atoyan, 46, Rancho Cordova.
All of the defendants … (2 comments)
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real estate fraud: REAL ESTATE INVESTMENT SWINDLER EARNS 15 YEARS IN THE HOOSEGOW
- 11/29/11 06:29 PM
Real Estate Investment Scammer Sentenced to 15 Years Michael Frank Burgess,69, Alpharetta, Georgia, was sentenced byChief U.S. District Judge Anne C. Conway to 15 years in federal prison for conspiracy to commit wire fraud and money laundering in connection with a real estate fraud scheme. The court also ordered Burgess to serve 3 years on supervised release and pay over $94 million in restitution to his victims. Burgess pled guilty on May 4, 2011.
According to court documents, Burgess was the manager of Prosperity International (Prosperity), a company that claimed to be in the business of development and funding for large real … (4 comments)
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real estate fraud: FORECLOSURE RESCUE SWINDLER TO SPEND THE NEXT FIVE CHRISTMASES IN THE SLAMMER
- 11/29/11 06:25 PM
Foreclosure "Rescuer" Sentenced for Defrauding Homeowners Angeline Lisa Lizarrago, 69, Fremont, California, was sentenced to five years for a foreclosure scam in which dozens of struggling Bay Area and Central Valley homeowners paid for foreclosure services that were never delivered. Lizarrago was sentenced in Alameda County Superior Court to five years and ordered to pay more than $31,000 in restitution to nine victims of her foreclosure scam. Two additional victims are seeking additional restitution; a restitution hearing was set for February 2012 to address their claims. In September 2010, the Attorney General's office and the Alameda County District Attorney's office charged Lizarrago with … (2 comments)
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real estate fraud: MAN ARRESTED FOR MISAPPROPRIATING ESCROW FUNDS AND MORTGAGE FRAUD
- 11/29/11 06:11 PM
Man Arrested for Misappropriating Escrow Funds Steve Zaven Kessedjian, 48, Los Angeles, California, was arrested after a federal grand jury returned an indictment on July 21, 2011, charging him with mail fraud for a mortgage fraud scheme. Kessedjian was arrested by U.S. Secret Service agents in Los Angeles and appeared before a U.S. magistrate judge in the U.S. District Court there. According to the indictment, Kessedjian’s company, Amerilend Inc., Woodland Hills, California, helped homeowners secure loans to refinance their homes. When a loan was funded, Amerilend would use Targa Escrow, another business owned by Kessedjian, to disperse the escrow funds.
According to the … (0 comments)
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real estate fraud: 8 REAL ESTATE INVESTORS PLEAD GUILTY TO BID RIGGING - SHERMAN ACT VIOLATIONS
- 11/29/11 06:05 PM
8 Real Estate Investors Agree to Plead Guilty to Bid Rigging Charges were filed in U.S. District Court for the Northern District of California in San Francisco against eight Northern California real estate investors. Each has agreed to plead guilty for their roles in two separate conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California. Gary Anderson, Saratoga, Calif.; Patrick Campion, San Francisco; James Doherty, Hillsborough, Calif.; Keith Goodman, San Francisco; Troy Kent, San Mateo, Calif.; Craig Lipton, San Francisco; Henry Pessah, Burlingame, Calif.; and Laith Salma, San Francisco.
According to the felony charges, the … (0 comments)
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real estate fraud: FATHER, MOTHER AND DAUGHTER, A REAL ESTATE AGENT, SENT TO PRISON FOR APPRAISAL FRAUD
- 11/29/11 06:02 PM
3 Sentenced for Appraisal Fraud Scheme Guadalupe Ramirez, 31, a real estate agent, her mother Maria Ramirez, and her father Augustine Ramirez, 60, have been sentenced for their roles in a Kern County, California, mortgage fraud scheme involving inflated appraisals and kickbacks. Guadalupe and Maria received 6 year prison sentences and Augustine was sentenced to 4 years in prison. The scheme centered around the purchase of properties at inflated values, with the conspirators receiving substantial kickbacks, and then defaulting on the loans. The Ramirez' employed the assistance of two appraisers, Eli Donati, who appraised four of the subject properties involved in the … (0 comments)
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real estate fraud: MAN ARRESTED FOR FORECLOSURE RESCUE SCHEME
- 11/29/11 05:57 PM
Man Arrested for Foreclosure Rescue Scheme John Marcus Desenberg, 44, formerly of Newbury Park, California, was arrested by FBI agents in Southern California for his alleged role in a foreclosure rescue scheme. On November 17, 2011, Desenberg was charged in a 10-count indictment alleging mail fraud. According to the indictment, Desenberg was purportedly in the business of rescuing homeowners from foreclosure. Doing business as Creative Lending Solutions, Desenberg offered homeowners a “Fresh Start” program that would find an investor to purchase homes from distressed homeowners. Some of the proceeds of the sale would be used to make mortgage payments for the next 12 months. … (0 comments)
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real estate fraud: CEO OF HOME START AMERICA SENTENCED TO 50 MONTHS IN PRISON
- 11/29/11 05:54 PM
CEO of Home Start America Sentenced to 50 Months Michael Kaufman, 43, Reading, Pennsylvania, the CEO and founder of purported real estate investment firm Home Start America, Inc. ("HSA") who directed a long-running, large scale wire fraud conspiracy with loan officer David Wynn through Kaufman's company, was sentenced to 50 months in prison for his role. Kaufman pleaded guilty on April 11, 2011, to a Superseding Indictment charging him with conspiracy to commit wire fraud. Kaufman entered his guilty plea before U.S. District Judge Dennis M. Cavanaugh, who also imposed the sentence in Newark federal court. Judge Cavanaugh also ordered Kaufman … (0 comments)
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real estate fraud: REAL ESTATE DEVELOPER GUILTY OF FRAUD
- 11/29/11 05:50 PM
Real Estate Developer Guilty of Fraud Harold Rosen, 80, Clayton, Illinois, a real estate developer, pled guilty in U.S. District Court on October 27, 2011, for his role in the failed Bowman Estates construction project. Rosen was indicted by a federal grand jury on January 21, 2011, for attempting to obtain more than $1.9 million of public financing under false pretenses.
As part of his plea, Rosen admitted that he provided cash payments and a promise of future employment to Arthur M. Johnson, the director of the Community Development Department for the city of East St. Louis, to receive favorable treatment … (0 comments)
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real estate fraud: MORTGAGE FRAUD RINGLEADER SENTENCED TO TEN YEARS IN PRISON
- 11/29/11 05:46 PM
Mortgage Fraud Ringleader Sentenced to 10 Years Syed A. Babar, also known as "Ali" and "Asad," 29, New London, Connecticut, was sentenced by Chief United States District Judge Alvin W. Thompson in Hartford, Connecticut, to 120 months of imprisonment, followed by three years of supervised release, for orchestrating a multimillion dollar mortgage fraud scheme. According to court documents and statements made in court, between February 2007 and April 2010, Babar and others engaged in a scheme to obtain millions of dollars in residential real estate loans, including loans insured by the Federal Housing Administration, through the use of sham sales contracts, false loan … (0 comments)
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real estate fraud: ANOTHER REALTOR / MORTGAGE BROKER GETS TO SPEND THE NEXT THREE CHRISTMASES IN JAIL
- 11/29/11 04:42 AM
REALTOR / MORTGAGE BROKER Sentenced for Mortgage Fraud COLUMBIA, SC—United States Attorney Bill Nettles stated today that Robert C. Sasser, age 32, of Lexington, was sentenced in federal court in Columbia for wire fraud, a violation of 18 U.S.C. § 1343. United States District Judge Margaret B. Seymour sentenced Sasser to three years’ imprisonment and ordered him to pay approximately $1.6 million in restitution to Wells Fargo bank. Evidence presented at the change of plea hearing established that Sasser was a realtor and mortgage broker doing business in West Columbia.
He was involved in eight real estate transactions that involved … (2 comments)
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real estate fraud: CONNECTICUT REAL ESTATE SWINDLER SENTENCED TO TEN YEARS IN PRISON FOR PANOPTIC MORTGAGE FRAUD
- 11/28/11 09:26 AM
New London Man Sentenced to 10 Years in Federal Prison for Operating Extensive Mortgage Fraud Scheme David B. Fein, United States Attorney for the District of Connecticut, announced that SYED A. BABAR, also known as “Ali” and “Asad,” 29, of New London, was sentenced today by Chief United States District Judge Alvin W. Thompson in Hartford to 120 months of imprisonment, followed by three years of supervised release, for orchestrating a multi-million-dollar mortgage fraud scheme. “Mr. Babar earned this significant sentence by orchestrating a wide-ranging mortgage fraud scheme that led to millions of dollars in losses and left tens of … (3 comments)
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real estate fraud: CHARGES FILED FOR THEFT OF REAL ESTATE DEVELOPMENT PROJECT FUNDS
- 11/22/11 06:09 PM
Charges Filed for Theft of Real Estate Development Project Funds Virginia Marie Carlson, 60, and her husband, Philip Lee Carlson, 55, Wayzata, Minnesota, will make their first court appearance Nov. 22, 2011, on major theft by swindle charges in connection with the defunct Amber Woods commercial real estate project in Orono, Minnesota. The couple are each with four counts of theft by swindle over $35,000 and one count of attempted theft by swindle over $35,000.
The office building development, with room for about 10 businesses, began construction in 2007 but came to a halt in mid-2008.
The Carlsons needed help to secure financing … (1 comments)
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real estate fraud: MAN NETS 41 MONTHS IN THE SLAMMER FOR MORTGAGE FRAUD
- 11/22/11 06:04 PM
Man Sentenced for Participating in 2 Mortgage Scams Steven J. Kottage, 45, Weston, Connecticut, was sentenced by United States District Judge Mark R. Kravitz in New Haven, Connecticut, to 41 months of imprisonment, followed by five years of supervised release, for participating in two mortgage fraud conspiracies. According to court documents and statements made in court, Kottage conspired with his husband, Genaro Hathaway, to commit wire fraud by making materially false statements to H&R Block Home Mortgage, Inc., including a false loan application, W-2, employment verification, and pay stub in connection with a mortgage on a home on Fire Island, New York. In … (0 comments)
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real estate fraud: APPRAISER GUILTY OF MORTGAGE FRAUD
- 11/22/11 05:59 PM
Appraiser Admits Role in Mortgage Fraud Scheme Ryan Daryl Krutzig, 31, Maple Grove, Minnesota, a real estate appraiser, pleaded guilty to charges connected to a $1.8 million mortgage fraud scheme that involved 28 properties. Krutzig specifically pleaded guilty to one count of conspiracy to commit wire fraud. Krutzig, who was indicted along with Jesse Scott Hoffman, 32, St. Cloud, Minnesota, on June 14, 2011, entered his plea before United States District Court Judge Richard H. Kyle, in St. Paul, Minnesota.
In his plea agreement, Krutzig, who owned and operated US Appraisal Management, Maple Grove, Minnesota, admitted that from March through June of 2006, he conspired … (0 comments)
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real estate fraud: TITLE OFFICERS INDICTED FOR DOCUMENT FRAUD
- 11/22/11 05:54 PM
First Robo-Signing Indictment Handed Down Gary Trafford and Gerri Sheppard, both title officers, are the subject of a 606 count indictment for allegedly directing and supervising a robo-signing scheme which resulted in the filing of tens of thousands of fraudulent documents with the Clark County, Nevada, Recorder's Office between 2005 and 2008. According to the indictment, defendant Gary Trafford, a California resident, is charged with 102 counts of offering false instruments for recording (category C felony); false certification on certain instruments (category D felony); and notarization of the signature of a person not in the presence of a notary public (a gross misdemeanor).
… (6 comments)
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real estate fraud: MAN ARRESTED FOR SWINDLING INVESTORS / FORECLOSURE FRAUD
- 11/22/11 05:48 PM
Man Arrested for Promising Investors He Would Flip Foreclosures ohn Wesley Martynec, 36, Long Beach, California, was arrested on charges of stealing $302,000 from investors by fraudulently promising to buy and re-sell foreclosed homes for a profit. Martynec is charged with eight felony counts each of grand theft and selling securities in issuer transaction without qualification, six felony counts each of untrue statements in connection with a purchase or sale of securities and the use of a scheme to defraud and five felony counts of financial exploitation of an elder.
In addition to the 33 charges, Martynec is facing multiple sentencing … (2 comments)
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real estate fraud: BANKER GETS SIX YEARS IN PRISON FOR LOAN FRAUD
- 11/22/11 05:42 PM
Banker Gets 6 Years for Loan Fraud S. Pope Cleghorn, Jr., 39, Villa Rica, Georgia, was sentenced by United States District Judge Timothy C. Batten, Sr. to serve 6 years in federal prison on charges of bank fraud in connection with a real estate development project and a loan for a personal residence. Russell T. Long, 53, Destin, Florida, previously pleaded guilty to conspiring with Cleghorn to defraud the bank. Cleghorn was sentenced to 6 years in prison to be followed by 5 years of supervised release, and ordered to pay restitution of $2,424,301.67 to SunTrust Bank, which acquired Hometown Bank in 2008. He was … (0 comments)
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real estate fraud: MAN ADMITS SCAM INVOLVING 20 PROPERTIES
- 11/22/11 05:38 PM
Man Admits Scam Involving 20 Properties Chad Evans, 37, Brookville, Indiana, pleaded guilty to one count of bank fraud and one count of money laundering. Evans faces a maximum penalty of 30 years in federal prison for the bank fraud charge and 10 years in federal prison for the money laundering charge. According to the plea agreement, beginning in October 2007 and continuing through May 2008, Evans orchestrated a mortgage fraud scheme.
The scheme involved Evans purchasing approximately 20 low value properties in the Cincinnati, Ohio, area. Evans then resold the properties by supplying the buyers with the down payments, which he … (0 comments)
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real estate fraud: NOTARY PLEADS GUILTY TO FRAUD
- 11/22/11 05:35 PM
Notary in Robo-Signing Case Pleads Guilty Tracy Lawrence, 43, a local notary, has pled guilty to one count of notarizing the signature of an individual not in her presence, a gross misdemeanor in violation of NRS 240.155. Notary fraud carries a potential jail sentence of one year and/or a fine of up to $2,000.
Lawrence pled guilty on November 14, 2011, the same day the criminal information was filed. A sentencing date has been scheduled for November 28, 2011, in front of District Court Judge Jesse Walsh.
Anyone who has information regarding loan modification or mortgage fraud scams should contact the … (1 comments)
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13 More Charged in California Straw Buyer Scheme Thirteen additional defendants were charged in two separate indictments in the Vera Kuzmenko mortgage fraud investigation in California. The current indictments bring the total charged in this investigation to twenty-three. The two most recent indictments involve some of the straw buyers that participated in the scheme. In an indictment returned Thursday, November 3, 2011, a federal grand jury charged the following defendants with mail fraud, wire fraud and money laundering: Zhora Darmoyan, 44, Rancho Cordova, California; Kristine Atoyan, 32, Sacramento, California; Marat Galoyan, 26, Sacramento; and Martin Atoyan, 46, Rancho Cordova. 
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