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


September 2011 Archive
Last Updated Thursday, December 22, 2011 02:00 PM Texas Time


Mortgage Fraud Wire


Local, State and Federal Government Announcements

Pastor Recruited Church Members as Straw Buyers
A Chester County, Pa., pastor was charged by federal authorities in engaging in a $6 million mortgage fraud scheme.

4-Year Sentence in $7 Million Case
A 28-year-old Webster, Minn., man was sentenced Wednesday in federal court in St. Paul for bilking more than $7 million from at least 15 real estate mortgage lending companies.

Light Sentence for Man Who Used Stepdaughter in Scheme
Fred Layman stood before a federal judge Wednesday as a broken man, pausing to collect his composure as he read an apology he spent a year writing.

Guilty Defendant Faces Up to 20 Years in $20 Million Case
A 52-year-old Chanhassen, Minn., man who allegedly accepted $580,000 in kickbacks on the sale of six properties pleaded guilty Tuesday in federal court to conspiracy to commit wire fraud.

5-Year Sentence for 83-Year-Old Lawyer
An 83-year-old attorney was sentenced to five years in prison for his role in an extensive mortgage fraud conspiracy.

Guilty Plea from Mortgage Fraud Boss
TAMPA, Fla. -- A year after his $6.9 million-mortgage fraud scheme was uncovered in a 2006 Tampa Tribune investigative story, Chad Evans was under pressure amid a federal government investigation.

November Trial for Trooper
The mortgage fraud that former State Highway Patrol trooper Benjamin W. Richardson is accused of was part of an $11 million racketeering scheme that involved 26 properties in Franklin County in 2010.

Owner of The Gift Program Indicted for Mortgage Fraud
A Utah man was indicted Wednesday by federal authorities in connection with a multimillion-dollar mortgage fraud scheme in West Virginia and alleged mail fraud linked to a similar scam involving 20 properties in Stanislaus County.

Mortgage Broker, Borrower Busted
Two Broward County residents have been charged with orchestrating a $2.8 million mortgage fraud scheme, the U.S. Attorney's Office announced Wednesday.

83-Year-Old Lawyer Faces Decade in Prison
Sentencing was postponed late Wednesday for an 83-year-old former state representative from New Haven, Conn., who faces as much as 12 years in prison for participating in a mortgage fraud conspiracy that federal prosecutors say cost lenders as much as $3.2 million.

Sentences Handed Down in Scheme Involving Bank Loan Officer
A West Virginia real estate developer and a bank loan officer were each sentenced Wednesday and two Utah men were charged in mortgage fraud schemes that cost investors and banks millions of dollars.

Not Guilty Plea for Former Florida Trooper
TAMPA, Fla. -- Former Florida Highway Patrol trooper Shaun Leo Reid pleaded not guilty Wednesday to charges of mortgage fraud involving more than $100,000.

Former Mortgage Solutions II President Pleads Guilty
A New Kent County, Va., woman quietly pleaded guilty in Richmond federal court Tuesday to mail fraud in a $1 million mortgage loan scam that caused $568,293 in losses to eight lenders.

State Trooper Indicted on Fraud Charges
The U.S. District Court unsealed a potentially explosive criminal case today against an Ohio State Highway Patrol trooper who resigned last week after being arrested on fraud charges.

Huge Fraud Scheme Uncovered
The Minnesota Department of Commerce revealed Tuesday that it has been investigating what it called an elaborate kickback and mortgage fraud scheme allegedly involving at least 45 properties and a number of real estate professionals.

Defendants Walk Free in $30 Million Case after Judge's Error
A multimillion-dollar mortgage fraud case involving a Simi Valley company accused of defrauding customers across the state was dismissed Monday after the judge scheduled a preliminary hearing too late.

Broker Accused of Using Disabled Relative as a Straw Buyer
A Kellogg man will appear in federal court today on charges of wire fraud and making a false statement to a financial institution.

Fraud Fugitive Apprehended
A former Modesto, Calif., woman was arrested in Georgia over the weekend on a fugitive warrant upon arriving from Central America, more than two years after posting bail on a real estate fraud charge in Stanislaus County.

NM Broker Sentenced in $5 Million Case
Kevin Powers spent an hour Tuesday giving the federal judge about to sentence him his version of events leading up to an FBI investigation and his eventual conviction on 17 counts of wire fraud.

$200 Million Repurchase Lawsuit
U.S. Bank, a unit of U.S. Bancorp, has filed a federal lawsuit in St. Paul, Minn., against two defunct subprime mortgage lenders alleging they failed to properly vet more than 3,000 loans before packaging them for sale to investors as securities.

Appraiser Pleads Guilty
CHARLESTON, W.Va. -- A Putnam County real estate appraiser admitted in federal court Thursday to providing inflated appraisals in 2006 as part of a multimillion-dollar mortgage fraud scheme.

Two 5-year Sentences Handed Down in $4 Million Case
Used to be, a multimillion- dollar mortgage fraud scheme would rate big headlines and prompt swift outrage. These days, they hardly warrant notice.

Brokers Sentenced in $11 Million Scheme
Two mortgage brokers were sentenced to three years in prison today for lining up fraudulent loans to build homes on Smith Mountain Lake, cheating banks out of at least $11 million.

Chinese Targeted in $5.9 Million Scheme
Authorities expect to indict seven people Friday for allegedly running a sophisticated identity theft and mortgage fraud scheme that stole at least $5.9 million from homeowners, including some in the San Fernando Valley.


SOUTHINGTON MAN INDICTED FOR ALLEGED MORTGAGE FRAUD SCHEME
Jury Finds Mortgage Fraud Defendants Guilty of All Counts in Mortgage Fraud Scheme Involving the Hidden Bay Condominium Complex in Aventura, Florida
FORMER ST. CHARLES COUNTY DEVELOPERS PLEAD GUILTY TO FRAUD CHARGES
LOCAL DEVELOPER SENTENCED ON FRAUD CHARGES
Eight Defendants Charged in Mortgage Fraud Scheme in California
Connecticut Man Pleads Guilty to Mortgage Fraud on North Myrtle Beach Property
Tax Preparer Indicted For $3.4 Million Mortgage Fraud Scheme
Broward County Man Sentenced in Separate Wire and Mortgage Fraud Conspiracies
DEFENDANT IN MORTGAGE FRAUD CASE GETS 37 MONTHS IN FEDERAL PRISON; SCHEME INVOLVED PROPERTIES IN DAVIS, SALT LAKE AND UTAH COUNTIES
Twenty South Florida Residents Charged in $40 Million Bank and Mortgage Fraud Scheme
MONTGOMERY COUNTY PASTOR CHARGED IN MORTGAGE FRAUD SCHEME
Webster man sentenced for bilking more than $7 million from mortgage lenders
Man pleads guilty for role in $20 million mortgage fraud scheme
EIGHT INDICTED IN MULTI-MILLION DOLLAR MORTGAGE FRAUD, MONEY LAUNDERING SCHEME
Former Harris County Financial Director Pleads Guilty in Plea Agreement
Trio Indicted in $12 Million Mortgage Fraud Scheme
BROWARD MORTGAGE FRAUD SENTENCINGS
REAL ESTATE CONSULTANT PLEADS GUILTY TO MULTI-STATE MORTGAGE FRAUD SCHEME AND TAX EVASION
TWO UTAH MEN CHARGED IN FEDERAL MORTGAGE FRAUD SCHEME
WEST VIRGINIA REAL ESTATE DEVELOPER AND A FORMER LOAN OFFICER SENTENCED TO PRISON ON FRAUD AND TAX CHARGES
MORTGAGE BROKER AND STRAW PURCHASER CHARGED IN $2.8 MILLION MORTGAGE FRAUD SCHEME
FOR IMMEDIATE RELEASE
Mortgage Executive Pleads Guilty To Mortgage Loan Fraud
Former Beazer Mortgage Loan Officer Charged with Mortgage Fraud
INVESTMENT ADVISOR SENTENCED TO PRISON FOR OPERATING A PONZI SCHEME AND MORTGAGE LOAN FRAUD THAT LOST MORE THAN $9 MILLION
Department of Real Estate Revokes Broker's License for Fraudulent Mortgage Scam
Ohio Man Indicted for Operating $16.8 Million Investment Scheme
BELLEVILLE WOMAN ADMITS ROLE IN STRUCTURING AND MORTGAGE FRAUD
Two indicted in $14 million mortgage fraud scheme
Savage woman indicted for assisting in mortgage fraud scheme
FIVE DEFENDANTS INDICTED IN FEDERAL MORTGAGE FRAUD CASES
Attorney General Bondi's Office and Miami-Dade Police Department Arrest 12 for $16 Million in Mortgage Fraud
ALBUQUERQUE REAL ESTATE AGENT SENTENCED TO 56 MONTHS IN PRISON FOR FEDERAL MORTGAGE FRAUD CONVICTION
WESTSIDE MORTGAGE BANKER SENTENCED TO 18 MONTHS IN MULTI-MILLION DOLLAR 'PROPERTY-FLIPPING' FRAUD SCHEME
Gates Mills Resident Convicted in $6.7 Million Mortgage Fraud Conspiracy
Defendant in Mortgage Fraud Scam Ordered Held without Bond After Deportation from Samoa
Pair Charged In Fraud Scheme In Tucson
Four Defendants Indicted in Multi-Million-Dollar Mortgage Fraud Conspiracy
Man Charged in $20 Million Mortgage Fraud Scheme
Superseding Indictment Charges Four in $35.5 Million Mortgage Fraud Scheme
Two Plead Guilty In Multi-Million Dollar Sacramento Mortgage Fraud Scam
ATTORNEY GENERAL ANNOUNCES INDICTMENTS IN MORTGAGE REFINANCING SCAM
WHITE COLLAR CRIME - REAL ESTATE LOANS
Twin Cities area brothers sentenced for operating a $4 million mortgage fraud scheme
Former Real Estate Appraiser Pleads Guilty to Federal Wire Fraud Charge
Two Local Men Sentenced on Fraud Charges

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