Real Estate Fraud Report for June 16, 2014

By
Education & Training with (retired) TN LIC# 290452
real estate fraud: Man Sentenced to 27 Months in Prison for Defrauding Relatives of $244K - 06/16/14 10:23 AM
Here's an interesting case from the FBI about a 30 year old man who swindled his relatives.
He lied to them about his intentions to invest their money in real estate.
He also used the personal information of one of his victims to open a credit card acoount and then ran up a $26,000 tab without authorization.
Now he'll have a couple of years behind prison walls to think about what he did.
Richmond Man Sentenced to 27 Months in Prison for Defrauding Relatives of $244,000
SAN FRANCISCO—On June 11, 2014, Marvin Solis was sentenced to 27 months in … (0 comments)

real estate fraud: Woman Arrested for Embezzlement of Funds from Local Company - 06/13/14 12:17 PM
Palmetto Woman Arrested for Embezzlement of Funds from Local Company
TAMPA—United States Attorney A. Lee Bentley, III announces the arrest of Beverly Sue Gingell (60, Palmetto) on a federal complaint charging her with committing wire fraud. She faces a maximum penalty of 20 years in federal prison and a fine of $250,000 or twice the gross gain caused by the offense or twice the gross loss caused by the offense. Gingell made her initial appearance before Magistrate Judge Elizabeth A. Jenkins yesterday and was released on a $50,000 personal surety bond.
According to the complaint, Gingell was formerly employed by … (2 comments)

real estate fraud: Woman Sentenced to 97 Months for Involvement in Mortgage Fraud Scheme - 06/13/14 07:55 AM
Camarillo Woman Sentenced to 97 Months for Involvement in Mortgage Fraud Scheme
LOS ANGELES—Rosa Fernandez, 38, of Camarillo, was sentenced earlier today by United States District Court Judge John A. Kronstadt to 97 months in federal prison for her involvement in a mortgage fraud scheme.
Fernandez was arrested in June 2010 and charged along with nine other individuals in a federal indictment with scheming to defraud banks by falsifying loan applications and using bogus tax letters to vouch for borrowers. Fernandez originated numerous loans and earned substantial commissions. She pleaded guilty in February 2012 to three counts of bank fraud.
(2 comments)

real estate fraud: Former Bank Employee Sentenced to Federal Prison for Bank Fraud - 06/13/14 07:51 AM
Former Bank Employee Sentenced to Federal Prison for Bank Fraud
MCALLEN, TX—A former bank officer with Texas State Bank has been ordered to federal prison for defrauding her former employer, announced United States Attorney Kenneth Magidson. Sondra Tredaway, 65, of Mission, was the former manager of the Texas State Bank branch located in McAllen. She pleaded guilty to one count of bank fraud on June 7, 2011.
Today, Chief U.S. District Judge Ricardo H. Hinojosa handed Tredaway a sentence of 41 months in federal prison and further ordered she pay restitution to Texas State Bank in the amount of $4,496,455.83. … (0 comments)

real estate fraud: Former Ku Klux Klan Officer Pleads Guilty of Perjury in Cross-Burning - 06/13/14 07:47 AM
Former Ku Klux Klan Officer Pleads Guilty to Committing Perjury During Investigation into Cross-Burning
WASHINGTON—Pamela Morris, former secretary of a chapter of the Ku Klux Klan (KKK) in Ozark, Alabama, pleaded guilty today to committing perjury during a grand jury’s investigation into a racially motivated cross-burning in the U.S. District Court for the Middle District of Alabama.
Morris, 46, admitted in plea documents that on February 20, 2013, she lied to a federal grand jury looking into a cross-burning committed by Steven Joshua Dinkle, Morris’ son and the leader of the local KKK, and Thomas Smith, another KKK member. On … (2 comments)

real estate fraud: Former Housing Authority Director Nets 28 Months in Jail for Bribery - 06/12/14 11:49 AM
Former Lafayette/Opelousas Housing Authority Director Sentenced to 28 Months in Prison for Bribery and Bid Corruption Conspiracy
LAFAYETTE, LA—United States Attorney Stephanie A. Finley announced today that Walter O. Guillory, 51, of Lafayette, was sentenced by U.S. District Judge Elizabeth Foote to 28 months in prison and one year of supervised release for receiving bribes while running two housing authorities in the Acadiana area and also for his part in a conspiracy to award bids to a preferred contractor in Opelousas.
According to evidence presented at the guilty plea on February 14, 2014, Guillory served as the executive director of … (4 comments)

real estate fraud: Two Charged in Manhattan Fed Court with Scheme to Defraud Home Buyers - 06/12/14 11:46 AM
Two Long Island Men Charged in Manhattan Federal Court in Connection with Scheme to Defraud Potential Home Buyers
Preet Bharara, the United States Attorney for the Southern District of New York, and George Venizelos, the Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation (FBI), announced today the unsealing of an Indictment in Manhattan federal court charging KEITH ANTHONY, the former president and owner of a company that purported to provide financing for home purchases to people with poor credit, and a former employee of the company, ANTHONY PODIAS, for their alleged participation in … (2 comments)

real estate fraud: Jury Finds Real Estate Appraiser Guilty of Bank Fraud - 06/12/14 10:20 AM
Jury Finds Appraiser Guilty of Bank Fraud
PITTSBURGH—After deliberating for approximately five hours, a federal jury of five men and seven women found James Lignelli guilty of three counts of bank fraud, United States Attorney David J. Hickton announced today.
Lignelli, 59, of St. Mellion Drive, Presto, Pennsylvania, was tried before United States District Judge Terrence F. McVerry in Pittsburgh.
According to Assistant United States Attorney Brendan T. Conway, who prosecuted the case, the evidence presented at trial established that Lignelli was an appraiser who provided fraudulently elevated appraisals in support of fraudulent loan applications in connection with two different … (0 comments)

real estate fraud: Mortgage Fraud Blog Update for June 11, 2014 - 06/10/14 10:55 PM
Attorney Rachel Dollar and Mortgage Fraud Blog sends me an update once per week. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (2 comments)

real estate fraud: Real Estate Fraud Report for June 10, 2014 - 06/10/14 01:56 PM
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real estate fraud: Tampa Contractor Who Defrauded Hundreds of Investors Gets 4 Years - 06/10/14 01:52 PM
Tampa Contractor Sentenced to Four Years in Federal Prison for Defrauding Hundreds of Investors in Connection with Home Solutions of America Inc. Stock
Brian Marshall Taken into Custody Immediately Following Sentencing DALLAS—Businessman Brian Marshall, 50, of Tampa, Floriad, was sentenced today by U.S. District Judge Barbara M. G. Lynn to four years in federal prison for defrauding investors in connection with the sale of Home Solutions of America Inc. stock, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Marshall was remanded immediately to custody following the sentencing hearing.
Marshall pleaded guilty on November 18, 2013, the day … (2 comments)

real estate fraud: Real Estate Fraud Report for June 9, 2014 - 06/09/14 12:05 PM
Before you even think about committing
a real estate crime
click the red button.

 
 
 
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real estate fraud: Alabama Real Estate Firm Hit With $500,000 RESPA Fine - 06/09/14 11:23 AM
 
Alabama Real Estate Firm Hit With $500,000 RESPA Fine

The Consumer Financial Protection Bureau, which took over enforcement of the Real Estate Settlement Procedures Act (RESPA) from HUD several years ago, entered into a consent agreement with an Alabama real estate company that says the firm used inadequate disclosure language in an affiliated business disclosure.
Among other things, the firm in question was assessed a civil penalty of $500,000!
The consent agreement says the firm's disclosure form didn't properly reflect a sample form developed by HUD.
To read or download the consent order, go HERE.
(0 comments)

real estate fraud: Mortgage Fraud Blog for June 4, 2014 - 06/04/14 09:29 AM
Mortgage Fraud Blog sends me update emails once per week. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (0 comments)

real estate fraud: Real Estate Agent Sentenced to 5 Years in Prison for Fraud Conspiracy - 06/02/14 08:05 AM
Real Estate Agent Sentenced to Five Years in Prison for Conspiracy to Defraud Investors and Lenders
The United States Attorney’s Office for the Middle District of Pennsylvania announced the sentencing yesterday of Andrew Brosnac, age 48, of Mansfield, Texas.
Brosnac, a real estate agent and investment consultant, pled guilty to conspiracy to commit bank fraud and wire fraud in connection with the sale and leaseback of businesses in Pennsylvania, New York, West Virginia, North Carolina, South Carolina, Alabama, South Dakota, California, Oregon, and Wyoming.
According to United States Attorney Peter Smith, between 2006 and 2008 Brosnac and co-conspirator Samuel Pearson, … (6 comments)

real estate fraud: Georgia Man Arraigned on Fraud and Money Laundering Charges - 05/29/14 08:53 AM
Georgia Man Arraigned on Fraud and Money Laundering Charges
R.C. Patel a/k/a Rajesh C. Patel, 55, of Duluth, Georgia, was arraigned today in U.S. District Court in Nashville on investment fraud and related money laundering charges, announced David Rivera, United States Attorney for the Middle District of Tennessee.
Patel pleaded not guilty to these charges.
“Investment fraud schemes cause irreparable harm across a broad spectrum—to the individual investors who lose their savings to such schemes, to small businesses trying to raise capital legitimately, and to the integrity of our economy as a whole,” said U.S. Attorney Rivera. “This office will … (0 comments)

real estate fraud: Real Estate Fraud Report May 28, 2014 - 05/28/14 07:49 AM
Before you even think about committing a real estate crime click the red button.

 
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real estate fraud: Settlement Company Head Pleads Guilty to $2 Mil + Short Sale Fraud - 05/28/14 07:38 AM
Head of Annandale Settlement Company Pleads Guilty in More Than $2 Million Short Sale Mortgage Fraud
ALEXANDRIA, VA—Jose Marinay, 52, of Annandale, Virginia, pleaded guilty today to conspiracy to commit wire fraud for his involvement in a short sale mortgage fraud conspiracy.
Dana J. Boente, United States Attorney for the Eastern District of Virginia; Valerie Parlave, Assistant Director in Charge of the FBI’s Washington Field Office; and Thomas J. Kelly, Special Agent in Charge, Washington D.C. Field Office, IRS-Criminal Investigation, made the announcement after the plea was accepted by U.S. District Judge Claude M. Hilton.
Marinay was indicted on April … (2 comments)

real estate fraud: Mortgage Fraud Blog Report for May 28, 2014 - 05/28/14 07:26 AM
Here's today's update from my friend, and great attorney, Rachel Dollar. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (0 comments)

real estate fraud: Man Charged in Home Improvement Scam Defrauded Elderly of Thousands - 05/27/14 07:31 AM
Owensboro Man Charged in Second Home Improvement Scam Charged with Defrauding Union County Couple of Nearly $150,000
Recently Pleaded Guilty in U.S. District Court to Defrauding Elderly Daviess County Couple of $200,000 in Similar Home Improvement Scam OWENSBORO, KY—An Owensboro, Kentucky man is being held by the U.S. Marshals Service following his arrest May 9 for devising a scheme to defraud a Union County, Kentucky couple of nearly $150,000 in a home improvement scam announced David J. Hale, United States Attorney for the Western District of Kentucky. Robert K. Gray was awaiting sentencing in a similar case in which he had … (2 comments)

   

 

 

 

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