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:

Sept. 21, 2011



Sarah A. Fleming was sentenced to more than six years in prison and ordered to pay more than $3 million in restitution for her role in a mortgage fraud scheme, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.

Fleming, age 36, of Macedonia, Ohio, previously pleaded guilty to mortgage fraud, tax fraud, aggravated identity theft, and credit card fraud.

Fleming conspired to obtain mortgage loans for properties located in the Cleveland, Ohio and Waxhaw, North Carolina areas. Fleming and others knowingly prepared and caused to be submitted false and fraudulent HUD-1 Settlement Statements in connection with mortgage loan applications made to financial institutions, which artificially and fraudulently induced the lending institution to provide financing in excess of $1.8 million, according to court documents.

Fleming and her co-conspirators recruited straw, or nominee, borrowers who agreed to purchase homes and obtain mortgage loans in their names for a fee, even though they never had any intention of actually living in the homes. Fleming and her co-conspirators created false and fraudulent documents and related financial information to obtain the mortgage loans. These often included a false appraisal which significantly inflated the true value of the property; false income statements; false bank statements; and false verifications of funds on deposit by the buyer, according to court documents.

From in or about January 2009 to in or about March 2010, Fleming or one of her co-conspirators filed at least 141 false 2008 and 2009 federal income tax returns in the names of 125 individuals, resulting in a total of $1,980,210 in false claims filed with the IRS. Fleming paid a "finder's fee" to her co-conspirators for referring personal identifiers of real people that she could use for filing the false returns. Fleming attached a false Form W-2 to many of the fraudulent returns filed with the IRS and then submitted the false claims to the IRS electronically through Turbo Tax, according to court documents.

Fleming used the personal identifiers of 14 real people, including their Social Security numbers and dates of birth, to open 14 credit card accounts with Capital One. She then used those fraudulent credit cards to obtain things of value totaling more than $1 million, according to court documents.

The case is being prosecuted by Assistant U.S. Attorney Chelsea S. Rice, following investigation by the Federal Bureau of Investigation, the U.S. Postal Inspection Service, the Internal Revenue Service Criminal Investigation, and the United States Department of Health and Human Services, Office of the Inspector General.



Source: United States Attorney's Office for the Northern District of Ohio

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