real estate fraud: OHIO RESIDENT CONVICTED IN $6.7 MILLION DOLLAR MORTGAGE CONSPIRACY
- 09/13/11 04:22 AM
Gates Mills Resident Convicted in $6.7 Million Mortgage Fraud Conspiracy Louis Amir was convicted on 21 counts following a jury trial for his role in a $6.7 million mortgage fraud conspiracy, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio. Amir, 37, of Gates Mills, Ohio, 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.
“The impact of mortgage fraud is foreclosed homes and blighted neighborhoods,” Dettelbach said. “My office remains committed to … (3 comments)
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real estate fraud: BALTIMORE FINANCIAL ADVISOR PLEADS GUILTY IN SCHEME TO DEFRAUD VULNERABLE CLIENTS OF $838,350 STOLEN FROM A TRUST HELD FOR A CHILD SUFFERING FROM CEREBRAL PALSY
- 09/07/11 03:19 PM
Baltimore Financial Adviser Pleads Guilty in Scheme to Defraud Vulnerable Clients of $838,350 Stole from a Trust Held for a Child Suffering from Cerebral Palsy, from the Child’s Mother, and from an Elderly Woman BALTIMORE, MD—Ralph Edward Thomas, Jr., age 52, of Reisterstown, Maryland, a financial adviser, pleaded guilty today to mail fraud in connection with defrauding his clients of $838,350. The plea agreement was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Special Agent in Charge Richard A. McFeely of the Federal Bureau of Investigation; and Chief James W. Johnson of the Baltimore County … (0 comments)
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real estate fraud: JURY CONVICTS LAWYER OF BREAKING INTO FORECLOSED HOME
- 09/07/11 03:04 PM
Jury Convicts Lawyer of Breaking into Foreclosed Home Michael Theodore Pines, 59, San Diego, an attorney, was convicted of attempting to illegally break into a foreclosed home in Newport Coast, California. Pines was found guilty by a jury of one misdemeanor count each of vandalism, attempted second degree burglary, the attempted unauthorized entry of a dwelling, and obstructing an officer. He faces a sentence ranging from probation up to three years in jail and up to $10,000 in fines at his sentencing Oct. 14, 2011, at 8:30 a.m. in Department H-3, Harbor Justice Center, Newport Beach. Co-defendant and former homeowner Rene Hector … (8 comments)
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real estate fraud: MINNESOTA MAN CHARGED IN 20 MILLION DOLLAR MORTGAGE SCHEME
- 09/07/11 02:59 PM
Man Charged in $20 Million Mortgage Fraud Scheme MINNEAPOLIS—Earlier today in federal court, a 52-year-old man was charged for his role in a $20 million mortgage fraud scheme that involved 57 properties. Douglas Rex 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 … (3 comments)
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real estate fraud: LAS VEGAS MAN PLEADS GUILTY IN CONNECTION WITH FRAUD SCHEME TO GAIN CONTROL OF CONDOMINIUM HOMEOWNERS' ASSOCIATION
- 09/07/11 10:42 AM
Las Vegas Man Pleads Guilty in Connection with Fraud Scheme to Gain Control of Condominium Homeowners’ Associations WASHINGTON—A Las Vegas man pleaded guilty today for his role in a scheme to fraudulently gain control of condominium homeowners’ associations (HOA) in the Las Vegas area so that the HOAs could direct business to a certain law firm and construction company, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, Special Agent in Charge Kevin Favreau of the FBI’s Las Vegas Field Office, and Sheriff Doug Gillespie of the Las Vegas Metropolitan Police Department. Darryl Scott Nichols, 47, … (3 comments)
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real estate fraud: TWO IOWA MEN SENTENCED TO MORE THAN THREE YEARS IN PRISON FOR MORTGAGE FRAUD
- 09/07/11 10:03 AM
2 Sentenced for Mortgage Fraud Darryl Lee Hanneken, 43, and Robert Edward Herdrich, 39, both of Bettendorf, Iowa, were each sentenced on August 25, 2011, by United States District Judge John A. Jarvey to 40 months' imprisonment in connection with their involvement in a scheme to defraud banks and mortgage lenders. Both defendants previously had pleaded guilty to conspiracy, wire, mail, and bank fraud. Hanneken and Herdrich were both sentenced to five years' supervised release following imprisonment and ordered to pay restitution in the amount of $869,464. In an 11-month span from 2005 to 2006, Hanneken and Herdrich purchased some 30 properties, … (2 comments)
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real estate fraud: SOUTH CAROLINA MAN ADMITS MORTGAGE SCAM INVOLVING OVERVALUED HOMES
- 09/07/11 09:40 AM
Man Admits Mortgage Scam Involving Overvalued Homes Robert C. Sasser, 31, West Columbia, South Carolina, pled guilty in federal court in Columbia, to Wire Fraud, a violation of Title 18, United States Code, Section 1343. United States District Judge Margaret B. Seymour accepted the plea and will impose a sentence in approximately ninety days. Evidence presented at the change of plea hearing established that Sasser was a realtor and mortgage broker. He was involved in eight real estate transactions financed by Wachovia for approximately $2.5 million. The loans were collateralized by homes that were significantly overvalued.
The loan documents contained multiple misrepresentations, … (0 comments)
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real estate fraud: OKLAHOMA MAN SENTENCED TO MORE THAN THREE YEARS IN PRISON FOR DEFRAUDING LENDERS
- 09/07/11 07:29 AM
Man Sentenced for Defrauding Lenders Derrick Reuben Smith, 47, Midwest City, Oklahoma, was sentenced by United States District Judge Timothy D. DeGiusti to serve forty months in federal prison for his role in a conspiracy to commit wire fraud in connection with mortgage loans. In addition, Judge DeGiusti ordered that Smith serve two years of supervised release following his imprisonment and pay restitution of $369,355.54.
Smith was convicted after a jury trial in April 2011. The evidence showed that he recruited two individuals to buy two new homes in the Raintree Acres Addition, Edmond, Oklahoma, in mid-2006 and early 2007. The homes sold … (2 comments)
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real estate fraud: MORTGAGE MODIFICATION SCAM TARGETS SPANISH LANGUAGE
- 09/07/11 07:11 AM
Mortgage Modification Scam Targets Spanish Speakers Freedom Companies Marketing, Inc., Freedom Companies, Inc., Freedom Companies Lending, and Freedom Financial Mortgage (Freedom) have been targeting Spanish speaking Idaho homeowners with false promises of a government-guaranteed mortgage loan modification for a large upfront fee. The company promises homeowners lower monthly mortgage payments, but Idaho homeowners who succumbed to the up-front payment scam received nothing but empty promises for an unlawful upfront fee of $1,995.
Homeowners trying to avoid foreclosure continue to fall prey to upfront-fee loan modification scams.
Gavin Gee, director of the Idaho Department of Finance, issued the warning.
"This company, using the … (4 comments)
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real estate fraud: UTAH MAN PLEADS GUILTY TO MORTGAGE CONSPIRACY
- 09/07/11 07:03 AM
Utah Man Pleads Guilty to Mortgage Conspiracy James Andrew Lawyer, 30, Utah County, Utah, will be sentenced Oct. 26, 2011, in U.S. District Court in Salt Lake City after pleading guilty to conspiracy in connection with a mortgage fraud scheme involving the purchase of a home in Highland, Utah. In court documents, Lawyer admitted he conspired with an individual identified as B.G. and at least one other person to commit wire fraud or money laundering or both offenses.
In a plea agreement reached with federal prosecutors, Lawyer admitted that he was approached by B.G. to use his name to purchase a residence … (2 comments)
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real estate fraud: FORMER APPRAISER ADMITS INFLATING VALUE
- 09/07/11 06:53 AM
Former Appraiser Admits Inflating Value Mark E. Greenlee, 50, Charleston, West Virginia, a former licensed real estate appraiser pleaded guilty in federal court before United States District Judge Thomas E. Johnston to aiding and abetting wire fraud. Greenlee admitted that he prepared a false and fraudulent appraisal in 2006 in furtherance of a multi-million-dollar mortgage fraud scheme perpetrated by Deborah L. Joyce and others, in the Stonegate subdivision in Hurricane, Putnam County, West Virginia.
Greenlee admitted that in August 2006, he prepared a residential real estate appraisal for a property known as 62 Stoneridge valuing the property at $645,000, essentially twice the then-current … (2 comments)
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real estate fraud: BROTHERS SENTENCED TO FIVE YEARS IN PRISON FOR SCAM INVOLVING 33 PROPERTIES
- 09/07/11 06:50 AM
Brothers Sentenced for Scam Involving 33 Properties Baretta Dean Bork, 35, Mound, Minnesota, the second of two brothers, was sentenced for orchestrating a $4 million mortgage fraud scheme that defrauded 24 area lenders. United States District Court Judge Ann D. Montgomery sentenced Bork to 60 months in prison on one count of conspiracy to commit mortgage fraud through the use of wires and income tax refund fraud. Bork, who was charged on January 31, 2011, along with his brother, Xavier Willis Bork, pleaded guilty on March 9, 2011.
On August 26, 2011, Xavier Bork, 32, Eden Prairie, Minnesota, was sentenced to 60 months … (0 comments)
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real estate fraud: Two Mortgage Professionals Sent to Prison for Phony Mortgage Scheme
- 09/07/11 04:11 AM
2 Sentenced for Phony Mortgage Scheme Timothy Scott Brooks, 40, Lynchburg, Va., and Adam Nash Spruill, 33, Forest, Va., who pleaded guilty in June 2010 to charges they committed various frauds in relation to a scheme to obtain phony mortgages on properties located near Smith Mountain Lake, were sentenced in the United States District Court for the Western District of Virginia. The defendants previously waived their rights to be indicted and pleaded guilty to one count of conspiracy to commit bank fraud, mail fraud, wire fraud, fraud by false statements on loan and credit applications and conspiracy to commit laundering of monetary instruments.
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real estate fraud: Former Prudential Realtor Sentenced to Prison Term
- 09/06/11 05:26 PM
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real estate fraud: Fraud : The Business Isn't Squeaky Clean. Why has it gotten so bad ?
- 09/03/11 10:44 AM
Here's a sample below...
and more than 12 pages of additional cases for your review
when you finish scanning this page
(click here)
… (6 comments)
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real estate fraud: BEWARE of Real Estate & Mortgage Cyber Scams!!!
- 09/02/11 05:38 PM
Be Aware of Recent Cyber Scams
The Internet Crime Complaint Center (IC3) reports recent cyber crime trends and new twists to previously-existing cyber scams. They include:
Individuals reported receiving a letter stating they were potential plaintiffs in a "Mass Joinder" lawsuit against their mortgage companies by a law firm in California. Consumers stated they were requested to pay non-refundable, upfront fees of $2,000 to $5,000. "Mass Joinder Lawsuits" Promising Home Mortgage Relief The IC3 has received several complaints from individuals who reported they received a letter stating they were a potential plaintiff in a "Mass Joinder" lawsuit being filed by a … (5 comments)
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real estate fraud: Brothers Sentenced for Operating a $4 Million Mortgage Fraud Scheme
- 09/01/11 02:47 PM
Twin Cities Area Brothers Sentenced for Operating a $4 Million Mortgage Fraud Scheme MINNEAPOLIS—Earlier today in federal court, the second of two brothers was sentenced for orchestrating a $4 million mortgage fraud scheme that defrauded 24 area lenders. United States District Court Judge Ann D. Montgomery sentenced Baretta Dean Bork, age 35, of Mound, to 60 months in prison on one count of conspiracy to commit mortgage fraud through the use of wires and income tax refund fraud. Bork, who was charged on January 31, 2011, along with his brother, Xavier Willis Bork, pleaded guilty on March 9, 2011. On … (0 comments)
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real estate fraud: Former Real Estate Appraiser Pleads Guilty to Federal Wire Fraud Charge
- 09/01/11 02:39 PM
Former Real Estate Appraiser Pleads Guilty to Federal Wire Fraud Charge CHARLESTON, WV—A former West Virginia licensed real estate appraiser pleaded guilty today in federal court before United States District Judge Thomas E. Johnston to aiding and abetting wire fraud. Mark E. Greenlee, 50, of Charleston, admitted that he prepared a false and fraudulent appraisal in 2006 in furtherance of a multi-million-dollar mortgage fraud scheme perpetrated by Deborah L. Joyce and others, in the Stonegate subdivision in Hurricane, Putnam County, West Virginia. Greenlee admitted that in August 2006, he prepared a residential real estate appraisal for a property known as 62 … (0 comments)
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real estate fraud: Georgia Man Convicted of Running an Investment Scam : Netted Over $7 Million by Promising a Special “High Yield” Return
- 08/31/11 08:22 AM
Bremen Man Convicted of Running an Investment Scam Edwards Netted Over $7 Million by Promising a Special “High Yield” Return ROME, GA—A jury in federal district court late this afternoon returned a guilty verdict against JEFFREY WALLACE EDWARDS, 46, of Bremen, Georgia, and his corporation, “Frontier Holdings, Inc.,” on charges of mail and wire fraud and money laundering. United States Attorney Sally Quillian Yates said, “Financial and investment fraud claims victims from all parts of our community. In this case, the jury found that a man from a small town in west Georgia successfully persuaded investors from around the country that … (0 comments)
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real estate fraud: Mortgage Fraud Scheme Lands Oklahoma Man in the Slammer for 40 Months
- 08/31/11 08:04 AM
Mortgage Fraud Scheme Lands Midwest City Man in Prison for 40 Months OKLAHOMA CITY—Yesterday, DERRICK REUBEN SMITH, 47, of Midwest City, was sentenced by United States District Judge Timothy D. DeGiusti to serve 40 months in federal prison for his role in a conspiracy to commit wire fraud in connection with mortgage loans, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma. In addition, Judge DeGiusti ordered that Smith serve two years of supervised release following his imprisonment and pay restitution of $369,355.54. Mr. Smith was convicted after a jury trial in April. The evidence showed that … (0 comments)
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Gates Mills Resident Convicted in $6.7 Million Mortgage Fraud Conspiracy Louis Amir was convicted on 21 counts following a jury trial for his role in a $6.7 million mortgage fraud conspiracy, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio. Amir, 37, of Gates Mills, Ohio, 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.
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