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How Many Dirty Real Estate Agents Are There In This Business ?

By David Saks

Industry Observer TN LIC# 290452

November 07, 2014 11:35 AM

See If You Can Count Them All !

I'll Treat the Winner to Pancakes and Grits the Next Time You're In Memphis If You Have the

Correct Answer !

real estate fraud: New Jersey Builder Indicted on Bank Fraud, Bribery - $1 Mil Mort Fraud - 11/07/14 03:24 PM

New Jersey Builder Indicted on Bank Fraud and Bribery Charges as Part of $1 Million Mortgage Fraud Scheme
NEWARK, NJ—A federal grand jury indicted a Neshanic Station, New Jersey, man today for his role in a $1 million mortgage fraud scheme, including an alleged bribe of a bank agent to approve a loan on a property that exploded hours before the closing, U.S. Attorney Paul J. Fishman announced.
Antonio Pimenta,
46, is charged with one count of bank fraud conspiracy, three counts of bank fraud, and one count of bribing a financial institution’s agent. He was previously charged by … (0 comments)

real estate fraud: Members of Mortgage Fraud Ring Sentenced - 11/07/14 03:11 PM

Members of Mortgage Fraud Ring Sentenced
ATLANTA—
Patrice Hairston,
Bonnie Rose,
Sarah Hyldahl, and
Ronnika Allen
have been sentenced for their roles in a scheme to defraud mortgage lenders of over $2 million in mortgage loans.
“Mortgage fraud has dragged down our economy, blighted our communities, and put in jeopardy the financial security of many Americans. We will diligently pursue those who misuse the dream of home ownership to line their own pockets by fraud and deceit,” said United States Attorney Sally Quillian Yates.
“The U.S. Postal Inspection Service is committed to protecting the American Public … (0 comments)

real estate fraud: Founder of Bankrupt O.C. Real Estate Investment Firm Guilty of Fraud - 11/06/14 09:26 PM

Founder of Bankrupt O.C. Real Estate Investment Firm Pleads Guilty in Fraud Scheme That Resulted in More Than $110 Million Bankruptcy
SANTA ANA, CA—One of the owners of a now-defunct Southern California real estate investment firm pleaded guilty today to perpetrating a fraudulent scheme that ended with the bankruptcy of the company, in which investors and banks collectively lost more than $110 million.
John Packard,
64, of Long Beach, pleaded guilty to one count of mail fraud before United States District Judge Cormac J. Carney.
During today’s hearing, Packard admitted bilking investors in Pacific Property Assets (PPA), which had … (1 comments)

real estate fraud: Two Women Plead Guilty to Participating in Mortgage Fraud Scheme - 11/06/14 06:47 AM

Two Women Plead Guilty to Participating in Mortgage Fraud Scheme
Deirdre M. Daly, United States Attorney for the District of Connecticut, today announced that two women involved in an extensive mortgage fraud scheme have pleaded guilty in Hartford federal court.
Today,
MALGORZATA KARAS-GOLKA,
also known as “Margaret,” 46, of Newington, pleaded guilty to one count of bank fraud related to the scheme and, on November 3,
CARMELINDA MAROTTA,
also known as “Linda,” 45, of Manchester, pleaded guilty to bank fraud, as well.
According to court documents and statements made in court, from approximately June 2005 to July 2010, Filippos … (1 comments)

real estate fraud: Real Estate Broker Charged with Wire Fraud by Taking Client Deposits - 11/05/14 02:29 PM

Broward Real Estate Broker Charged with Wire Fraud by Taking Client Deposits
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, announce the charges filed against
Christopher Wayne White,
43, of Fort Lauderdale, Florida, for three counts of wire fraud, in violation of Title 18, United States Code, Section 1343. If convicted, White faces a maximum penalty of twenty years in prison, five years’ supervised release and a fine of up to $250,000 for each count.
According to the criminal … (1 comments)

real estate fraud: Three Convicted in Timeshare Telemarketing Fraud Targeting Elderly - 11/05/14 02:23 PM

Three Convicted in Federal Court for Their Role in a Nationwide Timeshare Telemarketing Fraud Scheme Targeting the Elderly
United States Attorney James L. Santelle of the Eastern District of Wisconsin, announced today that following a six day jury trial,
Jason D. Schultz (age: 31), and
Jessica M. Gilbert (age: 25) of Green Bay, Wisconsin, as well as
Jessica Weinhart (nee Hensen) (age: 31) of Neenah, Wisconsin
were convicted of conspiracy to commit mail and wire fraud.
The jury further found that they had engaged in a telemarketing scheme that defrauded at least 10 individuals over the age of 55 thus … (1 comments)

real estate fraud: Accountant Involved in Rental Fraud Scheme Sentenced - 11/05/14 09:31 AM

Trumbull Accountant Involved in Fraud Scheme is Sentenced
The United States Attorney for the District of Connecticut announced that
THOMAS RAGONESE,
55, of Trumbull, was sentenced today by U.S. District Judge Robert N. Chatigny in Hartford to three years of probation, the first six months of which RAGONESE must spend in home confinement on electronic monitoring, for participating in a scheme to defraud a Bridgeport-based residential property owner. He was also ordered to perform 60 hours of community service.
According to court documents and statements made in court, Anthony Testo and his business, ACT Builders, Inc., were contracted to … (0 comments)

real estate fraud: Real Estate Fraud Report for November 5, 2014 - 11/04/14 09:38 PM

… (0 comments)

real estate fraud: Mortgage Fraud Blog for November 5, 2014 - 11/04/14 09:35 PM

Mortgage Fraud Blog sends me an update email 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: Alabama Real Estate Investor Guilty of Conspiracy to Commit Mail Fraud - 11/03/14 01:52 PM

Alabama Real Estate Investor Pleads Guilty to Conspiracy to Commit Mail Fraud
An Alabama real estate investor pleaded guilty yesterday for his role in a conspiracy to commit mail fraud related to public real estate foreclosure auctions held in southern Alabama, the Department of Justice announced today. To date, 10 individuals and two companies have pleaded guilty in connection with the department’s ongoing investigation into bid rigging and fraudulent schemes in the Alabama real estate foreclosure auction industry.
Chad E. Foster,
a resident of Theodore, Alabama, pleaded guilty yesterday to an indictment filed in the U.S. District Court for … (6 comments)

real estate fraud: Real Estate Fraud Report for November 2, 2014 - 11/02/14 09:04 AM

… (6 comments)

real estate fraud: Mortgage Fraud Blog for November 2, 2014 - 11/02/14 09:02 AM

real estate fraud: Illinois Lawyer & Talk Show Host Convicted in $9.7 Mil Mortgage Fraud - 10/24/14 05:58 PM

Illinois Lawyer and Internet Radio Talk Show Host Convicted in $9.7 Million Mortgage Fraud Schemes
CHICAGO—An Illinois lawyer and Internet radio talk show host was convicted today on federal charges for engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million. The defendant, WARREN BALLENTINE, schemed with others to obtain more than two dozen fraudulent mortgage loans and represented buyers at multiple closings, knowing that they were fraudulently qualified for loans to purchase homes in Chicago and various southern suburbs.
Ballentine, 43, of Durham, N. Car., and formerly of Country Club Hills, owned the … (4 comments)

real estate fraud: Miami-Dade Residents Convicted in $8 Million Investment Fraud Scheme - 10/23/14 05:42 PM

Miami-Dade Residents Convicted in $8 Million Investment Fraud Scheme
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, announce that
Lawrence Foster,
49, of Miami Beach, the President of Paradise is Mine, was found guilty by a federal jury in Miami of conspiring to commit wire fraud and seven counts of wire fraud.
Johana Leon,
38, of Miami Beach, a corporate officer of Paradise is Mine, meanwhile, was found guilty of three counts of structuring currency transactions by the … (0 comments)

real estate fraud: Woman Sentenced in White Plains to 51 Months in Prison for Bank Fraud - 10/23/14 05:33 PM

Dutchess County Woman Sentenced in White Plains Federal Court to 51 Months in Prison for Wire Fraud, Filing False Claims, Bank Fraud, and Corruptly Interfering with the IRS
Defendant Ordered to Forfeit $96,000 in Gold and Silver She Had Bought with the Proceeds of Her Crimes Preet Bharara, the United States Attorney for the Southern District of New York, announced that

MELANIE FERREIRA

was sentenced yesterday afternoon in White Plains federal court to 51 months in prison following her conviction for engaging in a series of frauds, which included cheating the Internal Revenue Service (“IRS”) out of nearly … (2 comments)

real estate fraud: Fraudster Homebuilder Sentenced to 15 Years in Prison - 10/22/14 11:11 AM

Fraudster Homebuilder Sentenced to 15 Years in Prison for Defrauding Investors of $19.805 Million and Evading $2.6 Million in Taxes
“The Sentence Fits the Crime” BALTIMORE, MD—U.S. District Judge J. Frederick Motz today sentenced
Patrick J. Belzner,
a/k/a “Patrick McCloskey,” age 45, of Selbyville, Delaware
to 15 years in prison followed, by three years of supervised release, on charges of wire fraud conspiracy, wire fraud and tax evasion. Judge Motz also entered an order that Belzner pay $19.805 million in restitution.
The sentence was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Special Agent … (5 comments)

real estate fraud: Mortgage Fraud Blog for October 22, 2014 - 10/22/14 01:02 AM

real estate fraud: Couple Guilty of Stealing from Elderly Victim to Purchase Beach House - 10/20/14 01:16 PM

West Virginia Couple Guilty of Stealing from Elderly Victim to Purchase Beach House
WHEELING, WV—A Wetzel County couple was convicted in federal court of stealing nearly $400,000.00 from a 90-year-old victim in order to purchase a vacation home in the Outer Banks, United States Attorney William J. Ihlenfeld, II, announced today.
Following a three day trial,
Timothy Summers, 67,
and
Lea Ann Summers, 52,
of Proctor, West Virginia,
were found guilty of one count of conspiracy to commit mail fraud, four counts of mail fraud, one count of securities fraud, and one count of interstate transportation of … (10 comments)

real estate fraud: Real Estate Fraud Report for October 19, 2014 - 10/19/14 10:38 AM

… (2 comments)

real estate fraud: Philadelphia EXIT Realty “Tri-State" Founder Charged With Ponzi Fraud - 10/16/14 02:44 PM

West Chester Woman Charged in Real Estate Ponzi Scheme
PHILADELPHIA—
Marie Mikesche Bontigao, 43,
of West Chester, PA,
was charged by indictment, unsealed yesterday, in a fraud scheme involving more than $2 million, announced United States Attorney Zane David Memeger. She is charged with wire and mail fraud.
Bontigao was a licensed real estate broker
who operated a franchise location of
EXIT Realty
in Philadelphia, New Jersey and Delaware and was the founder of the EXIT Realty “Tri-State Group: and “Tri-State Investment Holdings, Inc.” (T.R.I.H.I.).According to the indictment, between 2007 and 2013, Bontigao solicited individuals … (5 comments)

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David Saks

Memphis, TN

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William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

There are way to many and they are ruining our Professions name. Time for our asso. to take more action.

Nov 07, 2014 11:36 AM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

Winston Heverly

Coldwell Banker Access Realty - South Macon, GA

GRI, ABR, SFR, CDPE, CIAS, PA

David, what a wonderful bit of information with a great message of useful tips to learn by.

Nov 07, 2014 11:52 AM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

I am not sure how many dirty real estate agents there are, but there are a lot less now based on your post.

Nov 07, 2014 11:56 AM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

David Saks

Memphis, TN

Broker / Industry Analyst

You got that right, William. Thanks.

Nov 07, 2014 12:10 PM

David Saks

Memphis, TN

Broker / Industry Analyst

Use it in good health, Winston, with my compliments. It'll keep you out of jail.

Nov 07, 2014 12:10 PM

David Saks

Memphis, TN

Broker / Industry Analyst

If the busloads of real estate agents that have been hauled off to prison recently are a healthy indicator of the actual numbers, then we have a long way to go to clean up the business, Troy. Thanks.

Nov 07, 2014 12:13 PM

Potranco Realty

Potranco Realty - San Antonio, TX

"Sold with Potranco Realty"

I guess that is a loaded question, depends on ones premise of the word "dirty"?

It takes all kinds to make this beautiful world turn it's wheels and having a few dirty players keeps us on our toes. Have a beautiful weekend David.

Nov 07, 2014 07:13 PM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Too many, David. Thanks, but I'll pass on the grits.

Nov 07, 2014 08:50 PM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

David Saks

Memphis, TN

Broker / Industry Analyst

I know the blog title's a bit shocking, Bob, but I want my ActiveRain pals to see just how damned bad it is. NAR sweeps it under the rug and below radar. Hope you're having a great weekend.

Nov 08, 2014 12:52 AM

David Saks

Memphis, TN

Broker / Industry Analyst

You win, Gabe ! We'll have Cream of Wheat instead of the grits.

Nov 08, 2014 12:57 AM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

How many of these convicted Realtors subscribed to the "Code of Ethics"?

Nov 08, 2014 09:46 AM

Kathleen Daniels, Prob...

San Jose, CA
David Saks

Memphis, TN

David Saks

Memphis, TN

Broker / Industry Analyst

If the warden at the federal penitentiary will give me visitation rights I'll take a census, Fred.

Nov 09, 2014 12:10 AM

Adrian Willanger

206 909-7536 AdrianWillanger-broker.com - Seattle, WA

Profit from my two decades of experience

All fof them, this is my favorite, mainly because the guy has to pay restitution of almost 20 Million. real estate fraud: Fraudster Homebuilder Sentenced to 15 Years in Prison

Nov 09, 2014 01:20 AM

David Saks

Memphis, TN
Kathleen Daniels, Prob...

San Jose, CA

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

David, There are "dirty" in all professions. When people are involved, we will see crime. How many? I don't know. I do know I've seen my fair share of them in my market. All we can do is report and carry on being of service to others.

Nov 09, 2014 02:23 AM

David Saks

Memphis, TN

David Saks

Memphis, TN

Broker / Industry Analyst

Adrian, it'll take him a long time manufacturing license plates for a living.

Nov 09, 2014 04:15 AM

David Saks

Memphis, TN

Broker / Industry Analyst

Kathleen, there are probably more bankers, mortgage brokers, appraisers, real estate agents and brokers, straw buyers, loan officers, home builders, closing attorneys, loan servicers, home inspectors and buyers who make fraudulent misrepresentations on their applications to purchase homes, than there are drug dealers in prison.

Nov 09, 2014 04:21 AM

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400

The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY

Long Island Condo and Home Specialists

Too many! We have seen our share of them. What we can't understand is how they stay in the business...

Nov 10, 2014 09:13 PM

David Saks

Memphis, TN

David Saks

Memphis, TN

Broker / Industry Analyst

Some stay in business because of P T Barnum's platitude, although credited to David Hannum by a few, Larry and Sheila, that "There's a Sucker Born Every Minute". Thanks.

Nov 11, 2014 02:40 AM