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


April 2012 Archive
Last Updated Monday, June 11, 2012 03:42 PM Texas Time


Mortgage Fraud Wire


Local, State and Federal Government Announcements

HEL Scheme Netted $3.7 Million in Loans
A group that defrauded Wachovia, Bank of America and Washington Mutual of more than $3.7 million with fraudulent home equity loan applications were sentenced in federal court Friday.

Another Guilty Plea in $11 Million Case
A fourth member of an $11 million mortgage fraud scheme pleaded guilty to related tax fraud in federal court in Lynchburg, Va., Tuesday.

Guilty Plea in Commercial Mortgage Fraud Case
A Raleigh, N.C., man, desperate for investors, has pleaded guilty to federal charges that he fraudulently obtained nearly $5 million in bank loans to start a Z-Bowl family entertainment center in Mebane.

Fraudulent $1.8 Million Home Purchase Yields Conviction
A federal court has found Santa Rosa Beach, Fla., resident Jonathon "David" Sanders guilty of bank fraud and conspiracy to commit money laundering.

Judge Says No to Realtor's Request for No Prison for Mortgage Fraud
Former real estate professional James C. Platts presented himself as a changed man today before U.S. District Judge Alan N. Bloch, arguing that he should get only probation for mail fraud, money laundering and conspiracy so he can continue his volunteer and church work.

Closing Arguments in $142 Million Fraud Case
Hendrix Moreno Montecastro attempted to refute many of the allegations against him and his mother Thursday in the alleged $142 million mortgage and securities fraud case.

Real Estate Agent, Attorney-Son Convicted
A jury convicted a Carlsbad mother and her Orange County son of an $8 million mortgage fraud scheme, the U.S. Attorney for Southern California said Wednesday.

Insider Talks About Mortgage Fraud Crime
When Toby Gross was just 20 years old, he promised his father that he would not follow the path that taken by his brother -- a former banker who wound up in prison over fraud.

Fraudulent Appraisals Used in HECM Scheme
Inflated appraisals were used in a mortgage fraud scheme that utilized federally insured reverse mortgages and targeted seniors in seven states. The owner of a title agency, who was convicted along with three loan originators, held back funds that were supposed to be used to pay off existing liens.

Dramatic Reduction in Developer's Sentence for Cooperation
Prominent Chico developer Anthony G. Symmes was sentenced today in federal court to a month less than three years in prison on his plea of guilty to conspiracy to commit mail fraud and money laundering in connection with a multimillion-dollar mortgage fraud.

$1.2 Million Ohio Scheme Nets Prison
Andrew Hill, 34, of Dublin, Ohio, was sentenced in U.S. District Court this week to 24 months in prison for obtaining more than $1.2 million in fraudulent mortgage loans involving investment properties in Portsmouth, then "flipping" the properties and selling them to unqualified buyers. Officials from three federal agencies announced the sentence.

$125 Million Fraud Case Closing
Hennepin County, Minn., Attorney Mike Freeman said on Thursday that his office is wrapping up a five-year investigation of mortgage fraud involving nearly 500 residential properties and more than $125 million in fraudulent loans.

Straw Buyer Sees 2-Year Sentence
A straw buyer in a Jose Guzman-led scheme to defraud mortgage lenders was given two years in prison today in Hartford, Conn.'s, U.S. District Court.

Attorney Sentenced for $3.6 Million Fraud by Employees Son
HARTFORD, Conn. -- A Trumbull real estate lawyer has been sentenced to two years and three months in federal prison after pleading guilty in connection with a long-running real estate scam that cost lenders more than $3.6 million.

FBI Sees Mortgage Fraud Morph into Rescue Schemes
The FBI has remade itself in the post-9/11 era to focus on counterterrorism, but the agency continues to battle major financial fraud in key areas familiar to South Florida, like mortgages and healthcare as well as corporate and securities violations, FBI director Roberts Mueller told a lunch audience at the Greater Miami Chamber of Commerce Wednesday.

Title Firm Chief Tracked Down in Jamaica
A Parkland, Fla., woman pleaded guilty on Wednesday to her role in two mortgage fraud schemes, worth about $12 million, in Broward and Palm Beach counties.

Mortgage Broker a Major Player in SC Fraud Case
A federal judge has issued an arrest warrant for Jeremy Eason, a former Myrtle Beach, S.C., mortgage broker who is accused of playing a major role in a widespread mortgage fraud scheme that cost banks millions of dollars during last decade's real estate boom along the Grand Strand.


Two Colorado Men Plead Guilty To Fraud Concerning Riverwalk Development In Freeport, Florida
Bend Businessman Pleads Guilty to $6 Million Bank Fraud
12 million dollar mortgage fraud scheme indicted
Ashburn Realtor Convicted In $7 Million Mortgage Fraud Scheme
Illinois Man Pleads Guilty to Mortgage Fraud and Identity Theft
Federal Grand Jury Indicts Three in $2 Million Mortgage Fraud Scheme
Three Family Members Land in Federal Prison for Mortgage Fraud
Mortgage Loan Officers Indicted For $1.8 Million Mortgage Fraud
Hampton Roads Developer Pleads Guilty to Massive Bank and Historic Tax Credit Fraud
Members of Bank Fraud Ring Sentenced in $3.7 Million Scam
Former President of First Community Bank of Louisiana Pleads Guilty to Bank Fraud
Developer Convicted in Property Mortgage Scam
Six Face Federal Wire Fraud Charges In Real Estate 'Flipping' Scheme That Cost Victims More Than $4 Million

Lake County Woman Pleads Guilty to Bank Fraud Conspiracy Charges


Two Individuals From New York And A Destin Builder Convicted Of Bank Fraud And Money Laundering
Raleigh Man Pleads Guilty to Bank Fraud and Identity Theft Scheme
Bakersfield Tax Preparer Sentenced to Three Years in Prison for Mortgage Fraud and Tax Fraud Schemes
North Hills Man Sentenced To 46 Months In Prison For Mortgage Fraud Scheme
Getzville Man Pleads Guilty to Mortgage Fraud
San Marino Man Sentenced To Over 10 Years In Federal Prison In $9 Million Mortgage Fraud And Tax Evasion Scheme
WEEK IN REVIEW – HAMMOND
Hammond, Indiana- The United States Attorney's Office announced the following:
Brewton Man Pleads Guilty To False Statement In Loan Application
Real Estate Attorney, Mortgage Loan Officer, and Loan Processor Plead Guilty in Manhattan Federal Court to Orchestrating $9 Million Mortgage Fraud Scheme
Eagan Man Indicted On Mortgage Fraud Scam Involving Fixing Up Run-Down Homes And Then Reselling Them
Week in Review—Hammond
Jury Convicts Orange County Attorney and Carlsbad Real Estate Agent for $8 Million Mortgage Fraud Scheme
Kalamazoo Mortgage Broker Sentenced to 33 Months in Prison for Wire Fraud
Jersey City Man Sentenced To Prison In Bank Fraud Scheme
Ten Charged in Multi-Million-Dollar Mortgage Fraud Scheme
Real Estate Investor Sentenced to 97 Months for His Leadership Role in Mortgage Fraud Conspiracy
Loan Officer Pleads Guilty for Role in Mortgage Fraud Scheme That Resulted in More Than $6.5 Million in Losses
Miami-Dade Man Sentenced for Money Laundering and Drug Conspiracy Related to Mortgage Fraud Scheme in Palm Beach and St. Lucie Counties
Former Employee of Parsippany Mortgage Lender Sentenced to 21 Months in Prison for Fraud
Louisville Resident Guilty of Mortgage Fraud
California Man Sentenced To 34 Months For $3.3 Million Mortgage Fraud
Chico Developer Sentenced To Nearly 3 Years In Prison For Mortgage Fraud Scheme
Two Involved in Eastern Connecticut Mortgage Fraud Scheme Sentenced to Federal Prison
Guilty Plea Entered in DeKalb County Mortgage Fraud Case

Hudson County, N.J., Woman Sentenced To One Year In Prison For Role In Mortgage Fraud Scheme In Northern New Jersey


Three Mortgage Loan Officers Plead Guilty in Manhattan Federal Court to Orchestrating $9 Million Mortgage Fraud Scheme
Real Estate Broker and Loan Officer Charged with Mortgage Fraud
Former FBI Agent Sentenced in Manhattan Federal Court to One Year and One Day in Prison for Making False Statements
Leader of $66 Million Mortgage Fraud Scheme Pleads Guilty in Manhattan Federal Court
Plainfield Woman Involved in Mortgage Fraud Scheme Sentenced to Two Years in Prison
Mortgage Rescue Business Owner Pleads Guilty to Fraud
Dorchester Woman Convicted in Mortgage Fraud Scheme
Fresno County Residents Plead Guilty After House Fires Lead To Discovery Of Marijuana Growhouse And Mortgage Fraud Scheme
Danbury Attorney Sentenced to Prison in Connection with Mortgage Fraud Conspiracy
Pair Sentenced for Role in Sevier County Mortgage Scheme
Fifth Man Pleads Guilty in $40.8 Million Mortgage Fraud Scheme
Real Estate Agent Sentenced to Federal Prison for Defrauding Bank in Short Sale Mortgage Fraud Scheme
Santa Rosa Hells Angels Leader Sentenced To Prison In Mortgage Fraud Scheme
FTC Action Leads to Court Order Banning Final "U.S. Homeowners Relief" Defendants from Debt and Mortgage Relief Business
President of Broward Title and Escrow Company Pleads Guilty in Two Separate Multi-Million Mortgage Fraud Schemes
Valley Pair Plead Guilty to $5.3 Million Mortgage Fraud Conspiracy

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