twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map


subscribe to free Mortgage Daily email newsletter

Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.



P R E S S   R E L E A S E

FOR IMMEDIATE RELEASE:

May 10, 2012


Newark Man Charged with Stealing $1.2 Million by Using a Stolen Identity and False Information To Obtain Two Home Loans

TRENTON Attorney General Jeffrey S. Chiesa announced that a Newark man was indicted today for allegedly stealing approximately $1.2 million from two mortgage lenders by using a stolen identity and false information to obtain two home loans, which he used to sell his home in Newark and acquire a luxury home in Georgia.

Davionne Anderson, 41, of Newark, and his unregistered real estate investment company, AAA Investment Group, were each charged in a five-count state grand jury indictment with two counts of second-degree theft by deception, two counts of second-degree identity theft and one count of third-degree money laundering. The charges stem from an investigation by the Division of Criminal Justice Financial & Computer Crimes Bureau.

In April and May of 2007, Anderson and AAA allegedly used a woman's stolen identity and false information to obtain a total of $1,205,250 in loans, which Anderson used to buy two homes in the woman's name: a home that he himself owned in Newark, and a home in Georgia that was owned by an innocent seller who was unaware of the fraud. Anderson obtained a $260,000 loan from Chase Mortgage Company for the Newark home, and a $945,250 loan from Sun Trust, Inc., for the Georgia home. After completing the phony sale of his own home and acquiring the Georgia home in the name of the unsuspecting buyer, Anderson moved into the Georgia home with his wife.

"Using a single stolen identity and two fraudulent loan applications, this defendant from Newark allegedly stole over a million dollars from lenders and attempted to settle into a luxury home in Georgia that we allege he never intended to pay for," said Attorney General Chiesa. "We're aggressively targeting mortgage fraud, which causes major losses for lenders and ultimately raises the cost of borrowing for honest homeowners."

"The Division of Criminal Justice regularly investigates and prosecutes complex white collar crime cases, including mortgage fraud and money laundering offenses," said Stephen J. Taylor, Director of the Division of Criminal Justice. "We're working hard to rid the marketplace of con artists in order to protect lenders, investors and homeowners."

The buyer of the two homes was unaware that Anderson was purchasing them in her name. Anderson had obtained her personal information while attempting to get her to invest in real estate through his company, but she never agreed to any investments. It is alleged that Anderson and AAA fraudulently obtained the loans by submitting loan applications and HUD settlement forms containing fabricated information about the woman's employment and earnings. Her signature was forged on the closing documents. Because no payments were made on the two mortgages, the buyer's credit was ruined and both homes went into foreclosure.

Supervising Deputy Attorney General Francine Ehrenberg, Deputy Chief of the Division of Criminal Justice Financial & Computer Crimes Bureau, presented the case to the state grand jury. The investigation was conducted by Sgt. Robert Walker and Deputy Attorney General Ehrenberg. Deputy Attorney General Frank Brady is assigned to prosecute the case.

Second-degree crimes carry a sentence of five to 10 years in state prison and a $150,000 fine. Third-degree money laundering carries a sentence of three to five years in prison, a $15,000 fine, and a $75,000 anti-money laundering profiteering penalty. The indictment is merely an accusation and the defendants are presumed innocent until proven guilty.

The indictment was handed up to Superior Court Judge Mary C. Jacobson in Mercer County, who assigned the case to Essex County. Anderson is being sought on a warrant issued in connection with the indictment.

Attorney General Chiesa and Director Stephen J. Taylor noted that the Division of Criminal Justice has established a toll-free tipline 1-866-TIPS-4CJ for the public to report corruption, financial crime and other illegal activities. The public can also log on to the Division webpage at www.njdcj.org to report suspected wrongdoing. All information received will remain confidential.


Source: Office of the Attorney General for the State of New Jersey


mortgage fraud case stories


mortgage fraud headlines

mortgage fraud blog

Mortgage Daily headlines


Local Mortgage Fraud news
News about local mortgage fraud.


Logout forgot
password?

Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.



Mortgage Fraud Index
Dollar and index amount by quarter and state.



Mortgage Fraud Litigation
Lawsuits and settlements invoving mortgage fraud by a lender insider. From 2007 through first-quarter 2013



Mortgage Fraud News
News stories about fraud committed against home lenders.



Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.



local mortgage fraud


mortgage fraud links



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news