real estate fraud: BROKERAGE OWNER GETS 10 YEARS IN THE SLAMMER FOR $2.5 MILLION FRAUD
- 09/20/11 07:58 PM
Brokerage Owner Sentenced for Mortgage Fraud Zack Zafer Dyab, 47, Golden Valley, Minnesota, was sentenced in federal court for orchestrating a mortgage fraud scheme that resulted in the theft of more than $2.5 million from lenders nationally. The scheme centered around obtaining fraudulent loans for the purchase of 24 homes in the Twin Cities, Minnesota. United States District Court Judge Joan N. Ericksen sentenced the defendant. Dyab received 120 months in federal prison on one count of conspiracy to commit wire fraud and one count of money laundering in connection to the crime. Dyab was indicted along with Julia Alexander Rozhansky, 47, Minnetonka, Minnesota, … (2 comments)
real estate fraud: GUILTY PLEA ENTERED IN D.C. MORTGAGE FRAUD CASE
- 09/20/11 07:13 PM
Guilty Plea Entered in DC Mortgage Fraud Case Akinola George, 41, Washington, D.C., pled guilty to conspiracy to commit bank fraud and mail fraud for his role in a mortgage fraud scheme. George entered his guilty plea to the charge before the Honorable Reggie B. Walton. He also agreed to forfeiture of $2.4 million and is to be sentenced on December 9, 2011. Under federal sentencing guidelines, he faces a recommended sentence between 27 and 41 months in prison, along with restitution, a fine, and other conditions. According to the statement of offense, signed by the defendant, from October 2004 to … (0 comments)
real estate fraud: REAL ESTATE AGENT SENT TO PRISON FOR DEFRAUDING LENDERS
- 09/20/11 06:07 PM
Real Estate Agent Sent to Prison for Defrauding Lenders Kevin Powers, 51, Albuquerque, New Mexico, a real estate agent, was sentenced in United States District Court to a 56-month term of imprisonment for his conviction on 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations and omissions. Powers will be on supervised release for three years after he completes his prison sentence. The judge will hold another hearing to determine the amount of restitution that Powers will have to pay to the … (6 comments)
real estate fraud: BEAZER BRANCH MANAGER CHARGED WITH MORTGAGE FRAUD
- 09/20/11 05:53 PM
Branch Manager Charged with Mortgage Fraud Janette Parker, 48, Mint Hill, North Carolina, is the subject of mortgage fraud charges filed in U.S. District Court in Charlotte, N.C. against the former Beazer Mortgage loan officer. Parker is charged with three counts of mortgage fraud. Parker, a loan officer licensed in North Carolina, was formerly employed by Beazer Mortgage Company and served as the Branch Manager of the Charlotte office. According to the criminal information, Parker caused loans to be submitted to the Federal Housing Administration (FHA) for insurance on which the collateral (a Beazer home) was overvalued in order to compensate for the cost of … (2 comments)
real estate fraud: ESCROW AGENT GETS THE SLAMMER FOR STEALING FUNDS
- 09/20/11 05:48 PM
Escrow Agent Sentenced for Stealing Funds Stacey Marie Hebuck, 37, Ravalli County, Montana, was sentenced to 42 months in prison for diverting funds from Pinnacle Title escrow accounts and using the money for her own personal use and benefit. Hebuck was also ordered to pay a special assessment of $200, restitution in the amount of $468,482.03, and upon release from prison, she will be on supervised release for 3 years. Hebuck was sentenced in connection with her guilty plea to wire fraud and money laundering. In an Offer of Proof filed by Assistant U.S. Attorney Timothy J. Racicot, the government stated it would have proved at trial the following: … (4 comments)
real estate fraud: FORMER CEO OF WORLDWIDE FINANCIAL RESOURCES PLEADS GUILTY TO BANKRUPTCY FRAUD
- 09/20/11 10:31 AM
Former CEO of Worldwide Financial Resources Pleads Guilty to Bankruptcy Fraud TRENTON, NJ—The former CEO of Worldwide Financial Resources, a New Jersey-based mortgage origination firm, pleaded guilty today to bankruptcy fraud in connection with his January 2010 personal bankruptcy petition, U.S. Attorney Paul J. Fishman announced. David Findel, 46, of Monmouth County, N.J., pleaded guilty to an information charging him with bankruptcy fraud before U.S. District Court Judge Peter G. Sheridan in Trenton federal court. According court documents and statements made in court: On January 29, 2010, Findel filed for individual Chapter 7 bankruptcy protection. In his bankruptcy petition, Findel … (0 comments)
real estate fraud: FBI Gotcha Podcast - The Flucker's Affinity Fraud Scheme
- 09/20/11 06:34 AM
File type: MPEG-1 Audio Layer 3 (audio/mpeg) Track length: 01:00 (mm:ss) Affinity Fraud Scheme click for audiohttp://www.fbi.gov/news/podcasts/gotcha/affinity-fraud-scheme/view?utm_campaign=email-Immediate&utm_medium=email&utm_source=gotcha-radio-show&utm_content=32726 Mollie Halpern: It’s an FBI white-collar crime case involving a family business that exploited people’s faith, trust, and hope. Daniel Hemmersmeier: There was no underlying business, just a massive fraud. Halpern: I’m Mollie Halpern of the Bureau, and this is Gotcha. Roy Flucker, Jr. and his son and daughter targeted African-Americans at churches to market his business. Special Agent Daniel Hemmersmeier… Hemmersmeier: People really believed that Mr. Flucker was a religious person and that he would never be out to hurt them. Halpern: … (2 comments)
real estate fraud: ALABAMA REAL ESTATE INVESTORS AGREE TO PLEAD GUILTY TO CONSPIRACY TO RIG BIDS OF REAL ESTATE AT PUBLIC FORECLOSURE AUCTIONS
- 09/15/11 03:02 PM
Alabama Real Estate Investors Agree to Plead Guilty to Conspiracy to Rig Bids for the Purchase of Real Estate at Public Foreclosure Auctions WASHINGTON—Two Mobile, Ala., real estate investors and one real estate investment company have agreed to plead guilty today for their roles in a conspiracy to rig bids for the purchase of real estate at public foreclosure auctions in southern Alabama, the Department of Justice announced. Three separate charges were filed today in U.S. District Court for the Southern District of Alabama in Mobile against Allen K. French, M & B Builders LLC, and its co-owner, Harold H. Buchman. … (7 comments)
real estate fraud: ALBUQUERQUE REAL ESTATE AGENT SENTENCED TO 56 MONTHS IN PRISON FOR FRAUD
- 09/14/11 12:53 PM
Albuquerque Real Estate Agent Sentenced to 56 Months in Prison for Federal Mortgage Fraud Conviction ALBUQUERQUE—United States Attorney Kenneth J. Gonzales announced that, on September 13, 2011, a United States District Judge sentenced Albuquerque real estate agent Kevin Powers, 51, to a 56-month term of imprisonment for his conviction on 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations, and omissions. Powers will be on supervised release for three years after he completes his prison sentence. The judge will hold another hearing … (4 comments)
real estate fraud: MAN INDICTED FOR ILLEGALLY REFINANCING ANOTHER PERSON'S HOME
- 09/13/11 07:19 PM
Man Indicted for Illegally Refinancing Another's Home Shafik Hirji, 53, Las Vegas, Nevada, who unlawfully obtained financing on the home of one of his acquaintances, was indicted on three counts of forgery and one count of theft for obtaining the loan on the victim's home and embezzling the proceeds. The indictment alleges that Hirji completed loan documents in the homeowner's name and used them to effectuate the loan transaction. In the process, Hirji induced a notary public to certify that the signatures contained on the documents were true and then presented these documents to the lender. The indictment further alleges that Hirji retained … (5 comments)
real estate fraud: STRAW BUYER INDICTED FOR MORTGAGE FRAUD
- 09/13/11 07:15 PM
Straw Buyer Indicted for Mortgage Fraud Douglas Rex Butler, 52, was charged for his role in a $20 million mortgage fraud scheme that involved 57 properties. Butler was charged via an Information with one count of conspiracy to commit wire fraud. Allegedly, between 2004 and 2007, Butler conspired with others, including Roger Bill Hanks and Derrick Ivan Lance, to obtain mortgage loan proceeds based on fraudulent documentation. Butler's unnamed co-conspirators identified residential properties available for purchase and recruited buyers for those properties. Two of the co-conspirators allegedly told buyers they would receive payments (i.e., kickbacks) after the property transactions closed, and that … (2 comments)
real estate fraud: APPRAISER PLEADS GUILTY TO FRAUD
- 09/13/11 07:10 PM
Appraiser Pleads Guilty In Mortgage Fraud Scam Howard Reck, 45, Pittsburgh, Pennsylvania, has pleaded guilty in federal court to a charge of wire fraud conspiracy in connection with a mortgage fraud scheme involving inflated appraisals. Reck pleaded guilty to one count before Senior United States District Judge Donetta W. Ambrose. In connection with the guilty plea, the court was advised that Reck was a licensed appraiser who operated a company named Citizen's Appraisal Services, which provided appraisal services. Reck participated in a mortgage fraud conspiracy in which other members of the conspiracy represented to the lenders that sales prices for properties … (4 comments)
real estate fraud: 17 FINANCIAL INSTITUTIONS SUED FOR VIOLATIONS OF FEDERAL SECURITIES LAWS
- 09/13/11 07:06 PM
17 Financial Insitutions Sued for Various Violations Lawsuits have been filed against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises. Complaints have been filed against the following lead defendants, in alphabetical order: 1. Ally Financial Inc. f/k/a GMAC, LLC 2. Bank of America Corporation 3. Barclays Bank PLC 4. Citigroup, Inc. 5. Countrywide Financial Corporation 6. Credit Suisse Holdings (USA), Inc. 7. Deutsche Bank AG 8. First Horizon National Corporation 9. General Electric Company … (2 comments)
real estate fraud: REAL ESTATE AGENT, ESCROW AGENT AND TWO DEVELOPERS INDICTED IN ARIZONA MORTGAGE FRAUD CONSPIRACY
- 09/13/11 07:01 PM
4 Indicted in Arizona Mortgage Fraud Conspiracy William Michael Naponelli and Walter Scott Fruit, real estate developers; Sandra Jackson, escrow agent; and Brian Atwood, a real estate agent, have been indicted and charged for their alleged participation in a mortgage fraud conspiracy. The indictment charged 20-counts including conspiracy to commit bank fraud, false statement to influence a financial institution, and conspiracy to commit transactional money laundering. The defendants will be required to appear in federal court for their arraignment. The indictment alleges that the defendants conspired to commit mortgage fraud to obtain 19 loans totaling approximately $5.85 million between the years 2006 through … (2 comments)
real estate fraud: ALLEGED FORECLOSURE SCAMMER ARRESTED
- 09/13/11 06:54 PM
Alleged Foreclosure Scammer Arrested Juan Alvarado Cervantes, 01/31/1962, AKA Juan Alvarado, Fontana, California, is the subject of a felony complaint charging him with one count of residential burglary and one count of grand theft for an alleged foreclosure rescue scheme. The charges filed against Alvarado arise out of a fraudulent home foreclosure rescue program that targeted predominantly monolingual Spanish-speaking residents of Ventura County, California, facing foreclosure of their homes. Alvarado is accused of coming into Ventura County and entering the home of an Oxnard resident who was struggling to make her monthly mortgage payment. After Alvarado entered the victim's home, he collected thousands of … (2 comments)
real estate fraud: MAN DEPORTED TO THE UNITED STATES TO FACE MORTGAGE CHARGES
- 09/13/11 06:51 PM
Man Deported to US to Face Mortgage Fraud Charges Matthew Paul Kay, 36, a British citizen who formerly lived in West Los Angeles and the Park La Brea district of Los Angeles, California, a former real estate agent and mortgage broker charged with running a multi-million dollar mortgage fraud scheme was ordered held without bond after arriving in the United States to face federal fraud, identity theft and tax charges. Kay was ordered detained late today by United States Magistrate Judge Jay C. Gandhi. After being named in a 25-count indictment returned by a federal grand jury, Kay was arrested August 20, 2011, and … (2 comments)
real estate fraud: MORTGAGE MODIFICATION COMPANY TARGETING HISPANICS ORDERED TO CEASE AND DESIST
- 09/13/11 06:48 PM
Mortgage Modification Company Ordered to Cease and Desist Freedom Companies Lending, Inc., Minnesota, is the subject of a cease and desist order for allegedly engaging in mortgage modification activities in Idaho without a license and targeting Spanish-speaking Idaho homeowners by unlawfully charging them large upfront fees. Freedom Companies Lending goes by several different names, including "Freedom Financial Mortgage Corporation," "Freedom Companies, Inc.," and "Freedom Companies Marketing, Inc." The cease-and-desist order includes 30 counts of alleged violations of Idaho law by the so-called "Freedom" companies, including multiple acts of unlicensed activity and false or misleading advertising. The Idaho Department of Finance and its … (2 comments)
real estate fraud: JURY CONVICTS OHIO MAN OF MORTGAGE FRAUD
- 09/13/11 06:44 PM
Jury Convicts Ohio Man of Mortgage Fraud Louis Amir, 37, Gates Mills, Ohio, was convicted on 21 counts following a jury trial for his role in a $6.7 million mortgage fraud conspiracy. Amir used the money he illegally obtained through his schemes to buy luxury items, including high-end speakers, a plasma television, a Rolls-Royce and a Bentley automobile, among other items, according to court documents. Amir was found guilty of one count of conspiracy, six counts of wire fraud, 13 counts of money laundering, and one count of perjury. Amir, aided and abetted by two others, fraudulently applied for and obtained … (2 comments)
real estate fraud: REAL ESTATE INVESTMENT SCAMMER SENTENCED
- 09/13/11 06:41 PM
Real Estate Investment Scammer Sentenced Elise Hameed, 47, Chantilly, Virginia, was sentenced by U.S. District Judge Catherine C. Blake to two years in prison followed by three years of supervised release for mail and wire fraud surround the sale of an apartment building. Judge Blake also ordered Hameed to pay $321,500 in restitution. According to the stipulated facts presented during Hameed's one day bench trial, in December 2005, Hameed approached the owner of the Holabird Park Apartments, Baltimore, Maryland, about purchasing the apartment complex. The owner gave Hameed a 45-day option to purchase the property for $8.025 million. The $10,000 personal check Hameed provided to the owner … (0 comments)
real estate fraud: DEFENDANT IN MORTGAGE FRAUD SCAM ORDERED HELD WITHOUT BOND AFTER DEPORTATION FROM SAMOA
- 09/13/11 04:24 AM
Defendant in Mortgage Fraud Scam Ordered Held without Bond After Deportation from Samoa LOS ANGELES—A former real estate agent and mortgage broker charged with running a multi-million-dollar mortgage fraud scheme was ordered held without bond this afternoon after arriving in the United States earlier this week to face federal fraud, identity theft, and tax charges. Matthew Paul Kay, 36, a British citizen who formerly lived in West Los Angeles and the Park La Brea district of Los Angeles, was ordered detained late today by United States Magistrate Judge Jay C. Gandhi. After being named in a 25-count indictment returned by … (0 comments)
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Brokerage Owner Sentenced for Mortgage Fraud Zack Zafer Dyab, 47, Golden Valley, Minnesota, was sentenced in federal court for orchestrating a mortgage fraud scheme that resulted in the theft of more than $2.5 million from lenders nationally. The scheme centered around obtaining fraudulent loans for the purchase of 24 homes in the Twin Cities, Minnesota. United States District Court Judge Joan N. Ericksen sentenced the defendant. Dyab received 120 months in federal prison on one count of conspiracy to commit wire fraud and one count of money laundering in connection to the crime. Dyab was indicted along with Julia Alexander Rozhansky, 47, Minnetonka, Minnesota, … (2 comments)
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