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:

March 24, 2014


Two Sentenced In Mortgage Fraud Scheme

PENSACOLA, FLORIDA U.S. Attorney Pamela C. Marsh announced the sentencing today of Jason Andrew Vitulano, 38, of West Palm Beach, Florida, and Marc A. Gross, 54, of Boca Raton, Florida, by U.S. District Court Chief Judge M. Casey Rodgers following acceptance of their guilty pleas in August of last year. Both Vitulano and Gross pleaded guilty to several counts that included: conspiracy to commit mail fraud and wire fraud, two counts of mail fraud, and conspiracy to commit money laundering. Gross also pleaded guilty to making false statements to a federal agent and perjury. Vitulano was sentenced to 77 months in prison, ordered to pay restitution in the amount of $4,047,140.81, and a monetary judgment in the amount of $1,404,447 was entered. As part of Gross's sentence, the Court forfeited Gross's personal residence valued at approximately $340,000, his retirement accounts valued at approximately $253,000, and also ordered him to pay $3,507,187 in restitution as part of the five years of probation Gross was ordered to complete.

Vitulano and Gross both admitted that between June 2007 and February 2008, they were involved in the purchase of six townhomes in Temple Terrace, Florida, and two homes in Santa Rosa Beach, Florida, all purchased in the names of straw buyers. In order to finance each of these purchases, Vitulano and Gross caused loan applications containing false information to be submitted to various mortgage lenders and financial institutions. The false information submitted included false employers and an overstatement of income and assets. The fraudulently obtained loans were foreclosed upon causing harm to the lenders.

This case was investigated by the Internal Revenue Service Criminal Investigation, the Florida Department of Law Enforcement, and the Federal Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney Tiffany H. Eggers.


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


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