It is often said that home ownership is the American dream. Far too often these dreams are stolen and hopes are dashed through predatory schemes perpetrated by selfish and greedy fraudsters who victimize the innocent simply to enrich themselves. We will continue to investigate such fraudulent activities and aggressively prosecute those who unlawfully manipulate financial institutions, “stated United States Attorney John E. Murphy. The U.S. Justice Department handed down indictments against more than 1,000 individuals, including 29 people in the Western District of Texas, as part of a nationwide effort to crack down on mortgage fraud across the country. … (1 comments)
title fraud: Abuse of Power - Unscrupulous Title & Mortgage Company Operator Orchestrated Fraud Scheme.
- 06/16/10 09:24 AM
A former owner-operator of Noble Title Agency and Noble Mortgage Company in Colorado has been indicted by a federal grand jury in Denver on 63 counts of wire fraud in connection with a mortgage fraud scheme that Noble allegedly perpetrated. The indictment states Noble knowingly devised and intended to devise a scheme to defraud lending companies that funded residential mortgage loans and for obtaining money from them and from buyers who paid cash for a residence by means of materially false and fraudulent representations. Specifically, it was part of the scheme that Noble allegedly orchestrated the purchase of numerous residential properties, … (0 comments)
title fraud: R. E. Agent- Ring Leader- Pleads Guilty- $12.6 Million Scheme Involved New, Upscale Homes
- 06/02/10 01:34 AM
This is one of the largest mortgage fraud cases ever prosecuted in our district, and illustrates that this is a problem that affects not only low-income neighborhoods, but also more affluent suburbs," U.S. Attorney for the Western District of Missouri John F. Wood said. "Mortgage fraud poses a significant economic threat and directly impacts the well-being of our neighborhoods. A former real estate agent pleaded guilty in federal court to her role in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Missouri. Angela R. Clark was a real estate agent and co-owner of Centsable Business Services who sold … (0 comments)
title fraud: Attorney -Escrow Officer- Admittedly Executed a Scheme to Defraud Mortgage Lenders and Homeowners
- 05/26/10 02:12 PM
The title insurance industry is part of the real estate industry sector caught in law enforcement investigation activity which appears to be a part of the epidemic of industry fraud that could have cost consumers millions -- if not billions. An escrow account holder is a neutral third party which holds onto, then exchanges, disburses and transfers deeds, documents and monies. Disbursements pay off existing loans and the agent records deeds, prorates property tax payments and interest and helps with the transaction's other transfer details. An attorney who owned and operated two title companies, Premier Title & Abstract, Inc., and Verity … (0 comments)
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