Real Estate Fraud Report for November 10, 2014

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Education & Training with (retired) TN LIC# 290452



real estate fraud: How Many Dirty Real Estate Agents Are There In This Business ? - 11/07/14 07:31 PM
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 !
 
 
(16 comments)

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 … (2 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 … (2 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 … (2 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
      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 … (2 comments)

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
      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 … (4 comments)

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)

   
 
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David Saks

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Rainmaker
1,207,127
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

David

I just spent the last 15 minutes reading some of your bio on your home page. Impressive, will come back and finish the rest soon, cheers cvc

Nov 09, 2014 11:50 PM #1
Rainmaker
1,570,224
David Saks
(retired) - Memphis, TN

Let me know if you want my autograph, Curtis. But promise me you won't sell it on eBay

Nov 09, 2014 11:53 PM #2
Rainmaker
1,558,745
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

David: I do get a 'kick' out of your regular Fraud Reports. Too bad that Baltimore Builder didn't get even more time. They are ALL very bad humans. They don't deserve to be called people.

Nov 10, 2014 12:01 AM #3
Rainmaker
1,570,224
David Saks
(retired) - Memphis, TN

As we say down in Dixie, "you ain't heard nothin' yet", Norm. Those swindlers predate the simian scale. Hope you're doing great.

Nov 10, 2014 12:16 AM #4
Ambassador
1,770,095
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

It is a thorn in our side as honest Real Estate sales people to read about the ugly side. Let them cool their heels in the cross bar hotel David.

Nov 10, 2014 02:10 AM #5
Rainmaker
1,570,224
David Saks
(retired) - Memphis, TN

I want to read about it rather than sweep it under the rug, Noah, like NAR, and extract and place that pesky thorn in front of a license plate manufacturing conveyor belt in Leavenworth instead of a real estate office. Thanks.

Nov 10, 2014 02:22 AM #6
Rainmaker
570,521
Mykel Martin
(909) 476-9600 ~ WeLoveSellingRealEstate.com - Rancho Cucamonga, CA
Realty Masters & Associates

Wow!  I never realized just how many people are still trying to go to the left. Things like this really put a black eye on our industry.  But I agree it's better to put it out there than to sweep it under the rug.  If for no other reason than a deterrent.

Nov 10, 2014 10:48 AM #7
Rainmaker
1,570,224
David Saks
(retired) - Memphis, TN

The penalties for committing real estate fraud are too severe for any agent to risk, Mykel. Why anyone would jeopardize the hard work that they've committed themselves to for their state-appointed license, just to carry out a greed driven fraud scheme, makes no sense. Thanks.

Nov 11, 2014 02:35 AM #8
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David Saks

May God Bless You, Always. David
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