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

May 2012 Archive
Last Updated Monday, June 18, 2012 11:12 AM Texas Time

Mortgage Fraud Wire

Local, State and Federal Government Announcements

Borrower Sentenced to 3 Years in $15 Million Scheme
A federal judge sentenced a former Petaluma, Calif., man to 37 months in prison this week for securing a phony mortgage loan that let him buy a home on Muscat Circle in Petaluma, U.S. Attorney's officials said.

Borrower Sentenced to 3 Years in $15 Million Scheme
A federal judge sentenced a former Petaluma, Calif., man to 37 months in prison this week for securing a phony mortgage loan that let him buy a home on Muscat Circle in Petaluma, U.S. Attorney's officials said.

Mortgage Broker Added to List of Defendants in $7 Million PA Case
A Delaware County, Pa., man was charged Thursday with joining a mortgage fraud conspiracy that resulted in losses of more than $600,000.

Real Estate Agent Sentenced in $5.6 Million Fraudulent Refinance
A Tiburon, Calif., real estate salesman who falsified his income for $5.6 million in refinancing loans was sentenced to 18 months in prison Thursday, the Internal Revenue Service said.

2009 Mortgage Fraud Conviction Overturned
The Minnesota Supreme Court has overturned the conviction of a Brooklyn Park loan officer who was sentenced to 10 years in prison for his alleged involvement in a mortgage loan scam.

Mortgage Fraud Ringleader Found Scheme Participants at Church
PANAMA CITY, Fla. -- Angy Tennor was 22, making about $7 an hour working at Blockbuster and living with her parents in Miami in 2005 when her boyfriend came to her with an offer to make some money. A group of investors from her boyfriend's church wanted to buy a home in her name. She wouldn't have to make any payments and her credit score would increase.

Resort Cabins at Center of $6 Million Mortgage Fraud Case
A federal jury this month convicted a Sevierville, Tenn., title attorney and Pigeon Forge cabin developer in a $6 million mortgage fraud scheme.

$14 Million Scheme Nets 4.5 Year Sentence
A former Dublin, Ohio, man who flipped high-end properties in central Ohio and lived the high life with $3.4 million in kickbacks was sentenced today to 4 1/2 years in prison.

Man's Role in Scheme was to Provide Fraudulent Downpayments
NORFOLK, Va. -- A Maryland man pleaded guilty to conspiracy to commit bank fraud in connection with the purchase of real estate on the Eastern Shore.

Mortgage Fraud Scheme Involved Attorney, Broker and Developers
After a two-week trial, the fate of a Sevierville title attorney and a Sevier County, Tenn., real estate developer accused in $6 million fraudulent loan scheme will be in the hands of a federal jury today.

Mortgage Broker Says 19-Year Sentence Too Long
A former mortgage broker in prison for his role in a house-flipping scheme is asking a federal court to vacate his sentence, citing improper court procedures and ineffective advice from his lawyers.

Prison for 4 in $20 Million Scheme
Four people involved in a mortgage loan fraud scheme centered in Central Contra Costa County were sentenced to federal prison Thursday.

2 Charged in $45 Million Multi-State Case
Two Marion County, Tenn., men have been charged in a mortgage fraud scheme that prosecutors say ran for at least two years, totaled $45 million in losses and involved victims in five states.

FL Man Sentenced for $20 Million MN Scheme
A man indicted for running one of the state's larger mortgage fraud schemes was sentenced Thursday to six years in prison.

Real Estate Agent Indicted in 2nd Mortgage Fraud Case
A former real estate agent who was indicted in the Cloud 9 Sky Flats mortgage fraud scandal has been indicted again -- this time for alleged fraud at the Chateau Ridge condo complex in Burnsville, Minn.

Mortgage Fraud Defendant Escapes Prison Sentence
MYRTLE BEACH, S.C. -- Gaither B. Thompson II -- one of five people charged in a mortgage fraud scheme involving the Pineapple Bay condominium project here -- will be on home confinement for the next seven months after pleading guilty in federal court to a misdemeanor charge of unlawfully receiving compensation in a real estate transaction involving the U.S. Department of Housing and Urban Development.

Attorney-Defendant Claims He Was Victim in $6 Million Case
It was pre-recession. The real estate market in Sevier County, Tenn., was on fire, and banks were handing out loans hand-over-fist.

Woman Sentenced to 40 Months in $9 Million Scheme
A Branford woman has been sentenced to 41 months in federal prison followed by two years of supervised release for her role in a $9 million mortgage fraud scheme in southeastern Connecticut.

Koljo Nikolovski Sentenced to 18 Years in Prison for Role in One of the Largest Credit Union Collapses in American History
Residential Care Home Owners, Real Estate Agents Sentenced In $20 Million Mortgage Loan Fraud Scheme
Local Woman Sentenced in Credit Repair Scam Involving Approximately 80 Hawaiian Victims
Local Developer Sentenced
Moneta Woman Pleads Guilty To Tax Charge
Akron Man Charged For Mortgage Fraud Scheme Resulting In $36 Million Loss
Eight Charged in Connection with a $39 Million Mortgage Fraud Scheme
New London Woman Sentenced to More Than Three Years in Federal Prison for Role in Mortgage Fraud Scheme
Littleton Man Indicted for Obstruction, Wire Fraud, Mail Fraud, and Money Laundering
Hayward Man Sentenced to 37 Months in Prison
Five Plead Guilty in Scheme to Defraud Lender of $431,200; False Mortgage Loan Application Results in Loan Issued to Dead Man
Final Defendant Convicted In Florida Mortgage-Fraud Scheme
Sevierville Attorney and Developer Convicted of Wire and Bank Fraud Conspiracy and Money Laundering In $6 Million Mortgage Fraud Scheme
Five Plead Guilty And One Man Indicted In $1.5 Million Mortgage Fraud Scheme
Maryland Man Pleads Guilty to Conspiracy to Commit Bank Fraud
Woodbridge Man Sentenced to 33 Months for Defrauding Individuals and Lenders of More Than $1.5 Million
Chief Financial Officer Sentenced in $78 Million Dream Home Mortgage Fraud Scheme
South Florida Lawyer Files Mortgage Fraud Lawsuit Against TotalBank and Banco Popular
Sacramento Real Estate Agent Found Guilty of 13 Counts of Mortgage Fraud
Three People To Be Arraigned On Time Share Mortgage Fraud Charges In 29-Count Indictment
Former Real Estate Attorney Sentenced to Federal Prison in Million Dollar Mortgage Fraud Scheme
Tidewater Real Estate Project Manager Pleads Guilty To Bank Fraud Conspiracy
Broward Man Pleads Guilty for His Participation in Versailles Mortgage Fraud Scheme
Mortgage Brokers Sentenced For Federal Offenses
Ellendale Man Sentenced For Orchestrating Multi-Million-Dollar Mortgage Fraud Scheme
Chico Developer Sentenced to 18 Months in Prison for Mortgage Fraud
Three Defendants Indicted in Alleged $750,000 Mortgage Fraud Scheme Involving Three Residences in Chicago
Newark Man Charged with Stealing $1.2 Million by Using a Stolen Identity and False Information To Obtain Two Home Loans
Suspects in Multi-State Mortgage Fraud Scheme Charged in Chattanooga
Minneapolis Man Indicted For Mortgage Fraud In Connection With Burnsville Condo Project
Shawn Anthony Swor Pleads Guilty in U.S. Federal Court
Former Loan Officer and Resident of Tucson Indicted for Mortgage Fraud Scheme
Former Perdido Key Real Estate Agent Sentenced To Federal Prison
Mother And Daughter Each Sentenced To Two Years In Prison For Mortgage Fraud Scheme
Husband, Wife, and Former Police Officer Found Guilty of Participating in Mortgage Fraud Scheme
Seven Defendants Indicted in Alleged $8.8 Million Mortgage Fraud Scheme Involving 35 Condominium Loans in Chicago
James McConville Sentenced to 93 Months for Mortgage Fraud Scheme at Height of Financial Crisis
Branford Woman Sentenced to 41 Months in Prison for Role in New London County Mortgage Fraud Scheme
Manhattan U.S. Attorney Announces Arrests Of Two Individuals In Multi-Million Dollar Scam Involving Elderly Woman
Mortgage Broker Sentenced to Over Three Years in Prison in Fraudulent Mortgage Rescue Scheme Resulting in Losses of Over $1.2 Million to Homeowners in Financial Distress
Wolcott Man Who Participated in Scheme to Defraud Webster Bank is Sentenced to Federal Prison

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