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:

Sept. 12, 2013


Hogsett Announces Sentencing of Central Indiana Man on Bank, Wire Fraud Charges
President of Local Business Defrauded Banks Across Indiana of Millions

INDIANAPOLISóJoseph H. Hogsett, the United States Attorney, announced today that Todd Van Natta, of Seymour and Columbus, was sentenced this morning by U.S. District Judge William T. Lawrence to 60 months in federal prison after pleading guilty to 10 counts of bank fraud, three counts of wire fraud, and two counts of tax fraud. Van Natta was also ordered to pay $6,977,470 in restitution to his victims. Today's hearing follows Van Natta's 2012 indictment for operating a scheme that defrauded local Indiana banks of more than $10 million over two years.

"This criminal scheme was fueled by greed and left behind a trail of victims across the Hoosier State," Hogsett said. "As Mr. Van Natta learned today, embracing such a culture of corruption doesn't pay. You will be caught, and you will be brought to justice."

Van Natta was the president and manager of the Seymour-based Van Natta Asset Management LLC, along with a variety of related companies. The company was involved in commercial and residential real estate projects, as well as the aviation business.

Beginning in March 2007 and continuing until 2009, Van Natta devised a scheme to defraud financial institutions, obtaining large sums of money under false pretenses. Van Natta accomplished this by preparing and submitting numerous false documents to banks throughout central and southern Indiana, including local financial institutions headquartered in Bartholomew, Decatur, Washington, Morgan, and Monroe Counties.

By using these false documents, including fraudulently created tax returns that hid the true income and financial affairs of Van Natta's family members, the defendant was able to secure a number of substantial loans from the financial institutions for a variety of purposes. These loans included $3.8 million for a property in Evansville, $2.1 million for multiple properties in Seymour, and $3.1 million for a variety of properties in Fort Wayne. Loans were also taken out to purchase a 1970 Cessna Aircraft ($100,000) and a 2007 Fantasy Yacht ($550,000).

In addition, Van Natta defrauded a resident of Utah by falsely claiming that he was the owner of an aircraft that the defendant had listed for sale. Van Natta then accepted thousands of dollars from the individual, ostensibly for the purchase and upgrade of the aircraft. At no time did Van Natta actually own the aircraft in question, nor was it ever delivered to the individual as per the purchase agreement.

According to Senior Litigation Counsel Steven D. DeBrota and Assistant U.S. Attorney MaryAnn Mindrum, who prosecuted the case for the government, Van Natta was ordered to pay full restitution to his victims and must serve five years of federally supervised release at the end of his prison term. The federal government has filed its intention to seize Van Natta's assets that were attained through criminal activity. This prosecution was the result of a collaborative investigation involving the Federal Bureau of Investigation and the Internal Revenue Service.


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


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