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.