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

www.reversefunding.com

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:

July 2, 2012


Sheldon Harmon Charged with Bank Fraud, Money Laundering and False Statements to a Bank

PORTLAND, Ore. - A federal grand jury sitting in Portland, Oregon, returned an indictment against Sheldon Harmon, 35, formerly of Ridgefield, Washington now of St. George, Utah. According to the indictment, Harmon is alleged to have committed bank fraud, money laundering and making false statements to a bank. Harmon was arraigned today in Portland, Oregon before the Honorable Dennis J. Hubel. The defendant entered a plea of not guilty and was released pending a September 5, 2012, trial date.

The indictment alleges that Harmon refinanced commercial real property located in Vancouver, Washington through Umpqua Bank. The loan amount was $3.825 million dollars and Harmon took out cash proceeds of over $1 million. The indictment alleges that Harmon made false representations to Umpqua Bank by submitting false leases to Umpqua Bank indicating that tenants were renting the commercial property, when in fact, they were not. The indictment further alleges that Harmon laundered $532,391.98 of loan proceeds through two separate bank accounts.

"I want to give my personal thanks to the Internal Revenue Service and the United States Postal Service for their outstanding investigations", said United States Attorney Amanda Marshall.. "Our office will continue to work with our partners in both state and federal law enforcement to expose and prosecute those who manipulate financial institutions through deception and fraud."

Bank fraud and false statements to a bank carry a maximum term of imprisonment of 30 years. Money laundering, as alleged against Harmon, carries a maximum penalty of 10 years. An indictment is only an allegation of a crime, and all defendants should be presumed innocent until proven guilty.

This investigation was conducted by the Internal Revenue Service - Criminal Investigation and the United States Postal Inspection Service. This case is being prosecuted by Assistant U.S. Attorney Michelle Kerin.


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


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