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Local Mortgage Fraud News Stories
Illegal Flipping Schemes, Appraisal Fraud and other Mortgage Fraud

February 2012 Archive
Last Updated Monday, March 05, 2012 03:46 PM Texas Time

Mortgage Fraud Wire

Local, State and Federal Government Announcements

Bid Rigger Pleads Guilty
A Lodi man pleaded guilty in court Friday to conspiring and rigging bids as well as to committing mail fraud at public auctions for foreclosed homes held in California's San Joaquin County.

Former Wachovia VP Among Defendants Charged in Florida Case
The U.S. Attorney's Office in South Florida said it filed charges Monday against several Palm Beach County residents alleging a multi-million dollar mortgage fraud.

Mortgage Fraud Risk High in California Community
The Bakersfield, Calif., area has the fourth-highest mortgage fraud risk of any real estate market in the nation, according to an Agoura Hills, Calif., company that assesses risk for lenders and investors.

California Realtors Earned Up to $100k in a Day
Two Sacramento, Calif., real estate agents were indicted for their alleged roles in a property flipping and mortgage fraud scheme.

3 San Diego Realtor, Wife Indicted in $50 Million
SAN DIEGO -- Federal prosecutors Tuesday indicted a prominent Mira Mesa realtor, his wife and seven employees of defrauding banks and home buyers of more than $50 million.

3 Guilty Pleas in $35 Million Mortgage Fraud Case
Three guilty pleas entered last week close the book on nearly all of the 14 federal mortgage fraud cases filed two years ago after local real estate professionals reported the shady business practices.

2 Indictments Bring Number Charged in Sacramento Case to 55
Four more Sacramento-area residents face criminal charges as part of the federal government's investigation into one of the region's largest alleged mortgage fraud schemes.

Father of Former Michigan Football Players Found Guilty
GRAND RAPIDS, Mich. -- TheU.S. Department of Justice announced Friday that a former Grand Rapids realty broker accused of wire fraud has been found guilty on all counts.

Pair Charged in Mortgage Fraud Case
Two people have been charged with real estate fraud in the use of a "straw borrower" to obtain two mortgage loans totaling more than $500,000 for a Moorpark, Calif., home, according to the District Attorney's Office.

Former Ohio State Trooper Admits Fraud
A former State Highway Patrol trooper pleaded guilty today to eight charges of wire, bankruptcy and mortgage fraud, two weeks before his trial was to begin in U.S. District Court.

Russian Realtor Recruited Couple, Landscaper in Fraud Scheme
A federal grand jury has indicted three Sacramento, Calif., residents for alleged money laundering and wire fraud as part of a wide-ranging mortgage fraud probe.

Realtor Defrauded Banks, Stole from Friends
A high-rolling Sevier County realtor thought the odds were good he would pay back his unsuspecting victims before his crimes were discovered.

Mortgage Broker Testifies Against Mfg Housing Dealer
A sentencing hearing for former Conway, S.C., manufactured home dealer Glenn Vaught, who pleaded guilty last year to a felony mortgage fraud charge, was postponed Wednesday after mortgage broker Nancy Kennedy showed up in the courtroom to testify against him.

4 Guilty Pleas in $21 Million Scheme
OAKLAND, Calif. -- Four people last week pleaded guilty in federal court to charges relating to a far-reaching mortgage loan fraud scheme involving at least 20 properties and more than $20 million in loan proceeds in Northern California, according to the U.S. attorney's office.

Uncle Joining Nephew in Prison
Lionel Alexander, president of American Family Mortgage, recruited straw borrowers for 48 properties in the Dallas-Fort Worth area as part of a fraud scheme, prosecutors say.

$2.2 Million Mortgage Fraud Nets 6-Year Sentence
The ringleader of a $2.2 million mortgage fraud ring was sentenced this week to six years in prison and ordered to repay nearly $1 million to two companies.

Parents Take Hit for Son
Given the choice between a nearly certain prison sentence and seeing their 24-year-old son charged in a mortgage fraud scheme, Jim and Teresa Hoffman chose prison Friday, admitting that they duped mortgage lenders out of more than $5 million.

$2.5 Million Minneapolis Condo Case Yields 3rd Prison Sentence
A Bloomington man was sentenced Tuesday to 50 months in prison for his role in a $2.5 million mortgage fraud involving the sale of condominiums in the Sexton Lofts building in Minneapolis.

Three South Florida Men Sentenced in $9 Million Mortgage Fraud Scheme
Lodi Man Pleads Guilty To Bid Rigging And Fraud At Public Real Estate Foreclosure Auctions
Title Company Owner Sentenced To 12 Months For Mail Fraud
Five Defendants Charged in Mortgage Fraud Scheme
Annapolis Serial Fraudster Admits to Over $2.6 Million in Losses From Real Estate, Business Loan, and Social Security Fraud Schemes
Fraudsters Sentenced to Prison for Reverse Mortgage Scheme
Sacramento Property Flipping Scheme Adds Charges And Another Defendant
Attorney General Announces $469,500 Mortgage Fraud Trial Decision
Ocean City, Maryland Man Pleads Guilty to Eastern Shore Mortgage Fraud Conspiracy
Local Real Estate Agent and Eight Other Industry Professionals Charged in Massive Mortgage Fraud Scheme That Caused at Least $15 Million in Losses
Two Women Charged With $2 Million Real Estate Investment Fraud Scheme Targeting Vietnamese-Americans
Former Bend-Area Developer Pleads Guilty to $20 Million Bank Fraud
Lawyer and Broker Plead Guilty in Scheme to Obtain More Than $2.6 Million in Home Loans Through Fraudulent Applications
Former Bank President and Real Estate Developer Charged with Conspiracy to Commit Bank Fraud
Elk Grove Man Sentenced In Mortgage Fraud Scheme
Former Cartersville MayoralCandidate Sentenced To Federal Prison For Bank Fraud
Operators of Mortgage Loan Modification Business Plead Guilty to Conspiracy to Commit Fraud
Former Treasure Valley Couple Indicted on Multiple Counts of Wire Fraud and Bankruptcy Fraud
Nehawka Woman Sentenced for Mortgage Fraud
Two North County Loan Officers Charged in Scheme to Fraudulently Obtain Mortgages in Carlsbad and Siphon Nearly $1 Million in Bogus Fees
Real Estate Appraiser Convicted of Wire Fraud
Miami-Dade Man Pleads Guilty to Money Laundering and Drug Conspiracy Related to Mortgage Fraud Scheme in Palm Beach and St. Lucie Counties
Three Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions
Bakersfield Tax Preparer Pleads Guilty To Tax Fraud And To A Mortgage Fraud Scheme In Two Separate Cases
Former State Trooper Pleads Guilty to Fraud, Witness Tampering
President of Broward Title and Escrow Company Charged in Multi-Million Mortgage Fraud Scheme
Weston Couple Indicted in Connection with Section 8 Public Housing Fraud and Mortgage Fraud
Connecticut Man Admits Role in $3.2 Million Mortgage Fraud Scheme
Owner of Troese Title Companies Sentenced to Prison in $2.838 Million Mortgage Fraud Scheme
Southington Man Charged in Superseding Indictment with Mortgage Fraud Offenses
Family Of Real Estate Agents Sentenced For $11 Million Mortgage Fraud Scheme
Bergen County, N.J., Lawyer Admits $400,000 Mortgage Fraud Scheme
Former BCIA Chairman And Principal In New Jersey Mortgage Brokerage Firm Sentenced To Prison In Mortgage Fraud Scheme
Las Vegas Real Estate Agent and Mortgage Broker Convicted for Their Roles in Mortgage Fraud Scheme
Charged In Bank Fraud Scheme
Jury Convicts Dallas County Man in Mortgage Fraud Scheme
Bloomington Man Sentenced In Sexton Lofts Mortgage Fraud Scheme
District Man Sentenced to 40 Months in Prison in Mortgage Fraud Scheme
Mortgage Broker Sentenced in Fraud Scheme
Former R.I. Attorney Pleads Guilty to Bank Fraud & Tax Evasion Charges
California Man Pleads Guilty To $8.5 Million Mortgage Fraud Scheme
Former Crisp & Cole Agent Sentenced To 27 Months In Prison For Mortgage Fraud Conspiracy

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