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

September 2012 Archive
Last Updated Monday, October 15, 2012 10:09 AM Texas Time

Mortgage Fraud Wire

Local, State and Federal Government Announcements

CT Developer $3.5 Million Mortgage Fraud Trial Begins
Seconds into William Trudeau's $3.5 million mortgage fraud trial, a retired Westport assistant fire chief added his name to the list of alleged victims.

Women Arrested in Florida Mortgage Fraud Case
South Florida's housing bust appears to be over, but mortgage fraud investigators are still busy.

Mortgage Fraud Drove Retired Couple Into Bankruptcy
MYRTLE BEACH, S.C. -- Mike Wimberly -- a California man whose alleged participation in a Myrtle Beach area mortgage fraud scheme helped drive a retired couple into bankruptcy, according to court records -- was indicted this week by a federal grand jury on one felony charge of conspiracy to commit wire fraud in connection with a local real estate deal.

His and Hers Sentences for SC Couple
MYRTLE BEACH, S.C. -- Local couple Anthony and Linda Audino were sentenced last week in federal court for their roles in a mortgage fraud case involving townhome sales at the Pineapple Bay project along Porcher Drive here.

5- and 4-Year Sentences Handed Down to Husband, Wife
A Murrieta, Calif., husband and wife were sentenced to prison terms this week for their role in a mortgage fraud scheme that saw them take equity out of Inland homeowners' property and bilk victims out of more than $1 million, the IRS said in a statement released late Friday, Sept. 21.

Failed Bank Executive Pleads Guilty in $1 Billion Mortgage Fraud Case
The last of four defendants in a multimillion-dollar South Sound mortgage loan fraud scheme Friday pleaded guilty to a single charge of conspiracy to submit false statements in a loan application.

8 Indicted in California Mortgage Fraud Case
A federal grand jury has indicted a Linden man along with eight other people in a mortgage fraud scheme that involved the purchase of 19 homes.

County Official Denies Lying About Income to Qualify for $1 Million in Mortgages
The director of Hillsborough County's real estate department was arrested Friday by federal authorities and charged with mail and wire fraud.

9 New Indictments Bring Wax House Defendants to 50
Federal prosecutors announced charges Friday against nine more defendants in the ongoing mortgage fraud case involving pricey homes in and around Union County.

Bank Executive Admits Role in $45 Million Mortgage Fraud Case
Shawn Portmann, a former Pierce Commercial Bank mortgage executive, pleaded guilty Tuesday in federal court to his leading role in a mortgage-fraud scheme that generated at least $45 million in tainted loans and brought down the bank.

Meeting Addresses Mortgage Fraud, Appraisals
A private event being held this week in Chicago will address issues related to mortgage fraud and home valuations.

Montana Mortgage Broker Pleads Innocent
A West Glacier, Mont., mortgage broker pleaded not guilty Wednesday in U.S. District Court to two counts of bank fraud and one count of wire fraud involving a total of $525,000.

Fake VOEs, Inflated Values Used to Mask Mortgage Fraud
A Baltimore man pleaded guilty in federal court Friday to conspiracy to commit wire fraud because he and others secured mortgages for six homes in Upper Fells Point with fraudulent information, prosecutors announced.

Calif. Mortgage Broker Sentenced to 3 Years
A Chico, Calif., mortgage broker was sentenced Friday in federal court in Sacramento to three years and 10 months in prison for her role in a mortgage fraud scheme.

Film Documents Impact of Mortgage Fraud
An award-winning film on mortgage fraud, abusive debt settlement and unscrupulous contractors will be shown Wednesday in Frederick, Md.

Developer Indicted on Mortgage Fraud Charges
A local businessman was indicted on two counts of mortgage fraud, two counts of money laundering and three counts of bankruptcy fraud Thursday afternoon in U.S. District Court.

$10 Million Scheme Lands Mr., Mrs. In Prison
A Hudson, Wis., couple was sent to prison for six years and eight months Thursday, Sept. 13, for their roles in a $10 million mortgage fraud scheme.

Mortgage Fraud Ringleader Gets 12 Years
A "greedy" man at the head of a mortgage fraud conspiracy that wreaked "havoc" on the local housing market by driving properties into foreclosure and disrepair and diminishing the values of comparable properties was sentenced Wednesday to more than 12 years in federal prison.

7 Properties Bought and Sold 17 Times
A Bronx, N.Y., woman was sentenced Wednesday to more than 15 years in prison for arranging an Atlantic City-based mortgage-fraud scheme in which seven properties were bought and sold 17 times in 2006.

Guilty Plea Brings Number Guilty to Nearly 2 Dozen in SC Case
Area real estate sales agent Kevin Mayberry pleaded guilty last week in federal court to a mortgage fraud charge, joining nearly two dozen area buyers, sellers, brokers and others who either have admitted their roles or been found guilty in widespread fraud schemes that helped to hasten the Grand Strand's real estate crash.

Two Defendants Convicted of Mortgage Fraud for One Rincon Hill Properties Valued at $5.5 Million
Minneapolis Man Pleads Guilty to Mortgage Fraud in Connection with Burnsville Condo Project
Father and Son Charged with Conspiring to Defraud Lenders of $4.5 Million and Steal Equity from Struggling Homeowners
Kirby Lofts Scheme Results in More Prison Time for Previously Convicted Felon
Orange County Husband and Wife Sentenced for Mortgage Fraud
California Man Charged with Mortgage Fraud
Sewickley Woman Convicted On All Counts In Mortgage Fraud Scheme
Owner of a Pasadena Mortgage Company Sentenced to Nine Years in Federal Prison in $30 Million Mortgage Fraud Scheme
Promoters And Real Estate Professionals Indicted In Waxhaw Mortgage Fraud Cell
Former Needham Real Estate Attorney Convicted of Mortgage Fraud
Two King County Men Sentenced To Prison For Mortgage Fraud Scheme
Lawyer Sentenced to Prison for Obtaining $2.6 Million in Home Loans Through Fraudulent Applications
Granite Bay Man Charged With Multimillion Dollar Loan Fraud
Week in Review—South Bend
Nine Indicted For Sacramento Area Builder Bailout Mortgage Fraud Scheme
Bank Executive Convicted by Federal Jury for Involvement in Mortgage Fraud Scheme
Former Vice President of Pierce Commercial Bank Pleads Guilty to Fraud
Former Raleigh Real Estate Entrepreneur James T. Webb Arrested on 50-Count Indictment
Principals of Mortgage Brokerage Arrested in Equity-Skimming and Foreclosure Avoidance Scheme Targeting Distressed Homeowners
Two Loan Officers Sentenced in Manhattan Federal Court for Their Participation in $9 Million Mortgage Fraud Scheme
Baltimore Man Pleads Guilty in Mortgage Fraud Scheme Resulting in Over $1 Million in Losses From Fraudulently Obtained Loans
Chico Mortgage Broker Sentenced For Mortgage Fraud
Roseville Wealth Adviser Lee Loomis Arrested for Fraud Schemes
Eight Charged In $30 Million Mortgage Fraud Scheme
Morris County Lawyer Sentenced to Seven Years in Prison in Scheme to Defraud Lender of $431,200

Title Company Owner Pleads Guilty in $1.5 Million Fraud Scheme

Former Topeka Bank Vice President Sentenced for Bank Fraud

Captured Fugitive Sentenced To More Than 14 Years In Prison For Causing $19 Million In Losses To Mortgage Lenders

Dallas County Man Convicted in Multi-Million-Dollar Mortgage Fraud Scheme Involving Upscale Townhomes in Dallas
Principal at Local Mortgage Brokerage Firm Sentenced
Lawyer Admits Defrauding Mortgage Lenders of $1 Million by Diverting Closing Funds & Filing False Settlement Statements
Fresno County Man Sent To Prison For Mortgage Fraud Scheme
Two More Convicted of Mortgage Fraud
President of Property Management Company Sentenced to 10-Year Prison Term for Defrauding Clients, Mortgage Lenders, and Government
Copley Man Sentenced To Five Years In Prison And Ordered To Pay $1 Million In Restitution For Mortgage-Fraud Scam

Orlando Attorneys Plead Guilty in Mortgage Fraud Scheme
Newark Man Sentenced to 66 Months in Prison for $40.8 Million Mortgage Fraud Scheme
Mastermind Of Multimillion Dollar Atlantic City Mortgage Fraud Conspiracy Sentenced To More Than 15 Years In Prison
Five Charged For $2.2 Million Mortgage Scheme Involving 67 Properties In Mansfield And Crestline Areas
Federal Prosecutors Charge Atlanta Woman With Mortgage Fraud

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