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


October 2011 Archive
Last Updated Thursday, December 22, 2011 11:56 AM Texas Time


Mortgage Fraud Wire


Local, State and Federal Government Announcements

Guilty Plea for Florida Developer Linked to Anna Nicole Smith
Ford Shelley Jr. -- the local developer whose acquaintance with the late Playboy model Anna Nicole Smith helped fuel a media circus following her death -- has agreed to plead guilty to a felony charge of mail fraud related to allegedly falsified mortgages he helped to arrange for his Pineapple Bay condominium project in Myrtle Beach.

CA Woman Claimed She Lived In 7 Houses
SACRAMENTO, Calif. -- A Bay Point woman was among six people indicted by a federal grand jury in connection with a mortgage fraud scheme, the U.S. Department of Justice announced Thursday.

2 Year Sentence for 20 Fraudulent Loans
Charges have been expanded against four people accused of making illegal real estate deals that netted more than $11 million, and two defendants have been added to the amended complaint, the Fresno County District Attorney's Office announced Wednesday.

2 Year Sentence for 20 Fraudulent Loans
FORT MILL, S.C. -- A Fort Mill man has been sentenced to nearly two years in prison for conspiracy to commit mail fraud.

FBI Investigating Russian Community in $12 Million Case
Federal law enforcement officials are conducting a wide-ranging mortgage fraud investigation targeting dozens of members of the Russian American community in Sacramento, Calif.

4 Arrested in $0.9 Million Sacramento Scheme
Federal officials have arrested four California residents for a scheme that allegedly defrauded several banks out of $900,000.

Mortgage fraud protection legislation signed into law by governor
LANSING, Mich. - According to the most recent statistics from the FBI, Michigan is one of the top 10 states for mortgage fraud. So it might come as a surprise to homeowners to learn that mortgage fraud is not, strictly speaking, a crime.

Drug Felon Indicted as Mortgage Broker
Billy Joe Cannon, a felon who received his state mortgage broker's license just one month after finishing probation on federal drug charges, is in trouble again. This time, he's facing charges of running a mortgage fraud scheme.

Former WV Appraiser Licensing Official Indicted
CHARLESTON, W.Va. -- A real estate appraiser who once held an appointed position in West Virginia state government is facing fraud charges in North Carolina for allegedly falsifying hundreds of appraisals.

3 Oregon Men Sentenced in $4 Million Case
Oct. 18--Three Oregon men were handed prison sentences in federal court in Portland for their roles in a Vancouver-based mortgage brokerage service scheme.

MN Couple Indicted in $5 Million Minnesota Case
Hastings businessman Jim Hoffman will finally get his day in court.

Guilty Plea from PA Man
James C. Platts, once president of Easy Realty Services, pleaded guilty today to mail fraud, money laundering and conspiracy in relation to a series of property sales from 2005 through 2007 that put borrowers in over their heads, and resulted in lenders foreclosing and losing money.

Real Estate Executive Indicted Over 13 Fraudulent Property Purchases
A federal grand jury has indicted a Dixon, Calif., real estate executive for mortgage fraud.

Borrower Sentenced for Lying About Income
A Lexington woman was sentenced to 15 months in prison Friday for a mortgage fraud scheme that caused a lending company to lose tens of thousands of dollars.

8.5 Year Sentence in $43 Million Fraud Scheme
A federal judge sentenced a 45-year-old Burnsville, Minn., man Thursday to 8 1/2 years in prison for his role in a massive mortgage fraud scheme that bilked local lenders of $43 million.

Guilty Plea in $7 Million Case
A Long Island, N.Y., woman has pleaded guilty to her role in a multimillion-dollar mortgage fraud scheme that involved more than 40 multi-family homes in Bridgeport, Conn.

Conviction in Case Involving 7 Atlantic City Properties
A Bronx, N.Y., woman was convicted Thursday for organizing a mortgage fraud scheme involving seven properties in Atlantic City, U.S. Attorney Paul Fishman announced.

Fraud Case Dismissed Against Fla. Cop, Lawyer
FORT LAUDERDALE, Fla. -- Federal prosecutors said Wednesday they are dropping all criminal charges against a Fort Lauderdale lawyer and a former police officer arrested last year in a mortgage fraud investigation.

Federal Agents Honored by U.S. Attorney for their Efforts Against Mortgage Fraud
MINNEAPOLIS—To date in 2011, more than a dozen people have been charged federally with mortgage fraud and related crimes in the District of Minnesota. These complex cases are the result of lengthy investigations by federal agents, in particular, Special Agent Andy Gibart of the Internal Revenue Service's Criminal Investigation Division ("IRS-CID"), Special Agent Jennifer Khan of the Federal Bureau of Investigation, and Inspector Christine Kroells of the United States Postal Inspection Service ("USPIS").

Guilty Plea for Processor, Attorney
The company name said it all: Easy Realty Solutions, of Pine, thrived at a time when mortgages seemed to be yours for the asking.

DataQuick Updates Fraud Detection Tools in LoanShield
SAN DIEGO, Oct 10, 2011 (BUSINESS WIRE) -- DataQuick(R), a provider of advanced real estate information solutions powered by higher quality data, analytics and advanced decisioning, announced the addition of Property Review to LoanShield(TM), DataQuick's fraud protection platform.

Mortgage Broker Pleads Guilty in Flipping Scheme
A Dublin, Ohio man, Andrew Hill, 34, has pleaded guilty in U.S. District Court to bank fraud and money laundering 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.

Guilty Plea for Mortgage Broker, L.O.
A Severna Park, Md., mortgage broker pleaded guilty Friday in a mortgage fraud case that left lenders with more than $940,000 in losses, robbed homeowners of at least $1.2 million in home equity and pushed 16 homes into foreclosure, the Maryland U.S. attorney's office said.

Appraiser Indicted in $40 Million Case
A Key Largo man is among 20 people indicted Thursday by a federal grand jury for what prosecutors say was a $40 million mortgage fraud scheme.

Appraiser, Attorney Plead Guilty
Two of the three defendants charged with mortgage-related fraud in a 2010 indictment focused on the firm Easy Realty Solutions announced their intention to plead guilty today, in advance of a trial set to start next week.

Cocaine Addiction Blamed for Inflated Appraisals
A Brookline, Pa., man sentenced to three years in prison for conspiring to distribute cocaine today received what amounts to an additional year for his role in two mortgage fraud networks.

Borrowers Falsely Represented as Self Employed
ALEXANDRIA, Va. -- Osvaldo A. Mercado, 52, was indicted for defrauding Virginia banks of nearly $3.4 million in fraudulent loans, according to a press release from the U.S. attorney's office.

20 Indicted in $40 Million Scheme
Twenty South Floridians have been charged with participating in a $40 million mortgage fraud scheme, according to an indictment released Thursday by U.S. District Attorney Wifredo Ferrer.

Sentences, Convictions in 2 Fla Cases Involving $17 Million in Fraud
A Broward County, Fla., man was sentenced to nine years in prison for engaging in two separate fraud schemes between 2005 and 2007, the U.S. Attorney's Office announced Friday.


THREE WOMEN PLEAD GUILTY IN MORTGAGE FRAUD SCHEME
FORMER MANUFACTURED HOUSING SALES MANAGER PLEADS GUILTY TO $4.8 MILLION MORTGAGE AND CONSUMER FRAUD CHARLOTTE, N.C.
Albertville man sentenced for involvement in $7.7-million mortgage fraud scheme
Marblehead Real Estate Attorney Found Liable for Facilitating Illegal Foreclosure Rescue Scheme
DEVELOPER GUILTY OF FRAUD IN THE DEVELOPMENT OF THE EAST ST. LOUIS "BOWMAN ESTATES" PROJECT
Eight Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions
Six Indicted In Solano County Mortgage Fraud Scheme Involving Losses Of Over $1 Million
Kankakee Mortgage Broker Enters Guilty Plea in Fraud Scheme
Four Sacramento Area Mortgage Fraud Conspirators Arrested Monday Evening
Two Individuals Admit Participating in Eastern Connecticut Mortgage Fraud Scheme
Sixth Guilty Plea in Connection with Scheme to Fraudulently Control Condominium Homeowners' Associations
OWNER OF TITLE COMPANIES PLEADS GUILTY IN MORTGAGE FRAUD SCHEME
California Woman Pleads Guilty To Credit History Fraud That Led To $2.7 Million Lee's Summit Mortgage Fraud Scheme
Two California Men Indicted For $8.5 Million Mortgage Fraud Scheme
Former Loan Officer Pleads Guilty in $3.5 Million Mortgage Fraud Scheme
Title Company Owner and President Pleads Guilty in $3.1 Million Mortgage Fraud Scheme
Former Arizona Loan Officer Sentenced To 24 Months In Prison For His Role In A Mortgage Fraud Conspiracy
LAWYER-TITLE AGENT CHARGED IN VERSAILLES MORTGAGE FRAUD SCHEME
Minnesota couple indicted for orchestrating $5 million mortgage fraud scam
Two Individuals Admit Participating in New London County Mortgage Fraud Scheme
Three Sentenced in Lighthouse Financial Mortgage Fraud Investigation
Business Owner Pleads Guilty On Mortgage Fraud Scheme
FOR IMMEDIATE RELEASE
NEW YORK WOMAN CONVICTED BY NEW JERSEY JURY IN MULTIMILLION-DOLLAR ATLANTIC CITY MORTGAGE FRAUD CONSPIRACY
COCHRANVILLE MAN CHARGED IN MORTGAGE FRAUD SCHEME
FEDERAL GRAND JURY RETURNS INDICTMENT CHARGING UTAH COUNTY COUPLE IN ALLEGED MORTGAGE FRAUD SCHEME
DAVENPORT ATTORNEY SENTENCED IN CONNECTION WITH MORTGAGE FRAUD SCHEME
Long Island Woman Admits Role in Decade-Long Mortgage Fraud Scheme in Bridgeport
Mortgage Broker Sentenced to Over Three Years for Fraud
East Haven Man Sentenced to 37 Months in Prison for Operating Mortgage Fraud Scheme in New Haven County
Mortgage Broker and Loan Officer Plead Guilty in Fraudulent Mortgage Rescue Scheme Resulting in Losses of Over $1.2 Million to Homeowners in Financial Distress
CANTON MAN CONVICTED OF ORCHESTRATING PROPERTY MORTGAGE & DOWN PAYMENT FRAUD
Former loan officer pleads guilty in $2.8 million mortgage fraud scheme
TWO NEW YORK RESIDENTS CHARGED WITH PARTICIPATING IN NEW HAVEN MORTGAGE FRAUD SCHEME
SECOND FORMER MORTGAGE BROKER PLEADS GUILTY TO MULTIMILLION-DOLLAR MORTGAGE FRAUD SCHEME INVOLVING OVER 50 RESIDENTIAL PROPERTIES
Leetsdale Woman Sentenced To 18 Months In Prison For Mortgage Fraud Scheme, Failing To File Tax Returns
TWO SENTENCED IN MORTGAGE FRAUD SCHEME
LEADER OF $98 MILLION MORTGAGE FRAUD SENTENCED TO 108 MONTHS
SIX INDICTED IN $25 MILLION MORTGAGE FRAUD SCHEME
Sentencing in Mortgage Fraud Case
Fort Myers Attorney Pleads Guilty to Wire Fraud
Appraiser Sentenced To Prison For Million Dollar Mortgage Fraud Schemes

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