Pa Mortgage Manager Pleads Guilty
The manager of an Allentown, Pa., mortgage company who obtained fraudulent loans worth $1.5 million has pleaded guilty in federal court.
Joel Tillett, 36, of Whitehall Township admitted to conspiracy and forging loan documents to ensure clients' mortgage applications would be approved. According to an indictment released earlier this month, Tillett and other employees of Madison Funding falsified information about their clients' income and employment.
In many cases, the borrowers could not keep up with payments and defaulted, leaving taxpayers on the hook for hundreds of thousands in federally insured loans, according to court documents.
Mortgage Fraud Used to Acquire Office Building
A former Ridgefield, Wash., man pleaded guilty Monday in Portland, Ore., to multiple crimes related to a September 2008 sham refinancing of an office building in Vancouver, according to the U.S. Department of Justice.
Mortgage Fraud Trial Follows Foreclosure Rescue Trial
MYRTLE BEACH, S.C. -- Robert Steve Jolly, who operated an illegal foreclosure rescue scam through his Socastee-based Jolly & Associates, will face another trial on charges that he obtained clients' property under false pretenses, the S.C. Court of Appeals ruled on Wednesday.
Fraud on Mfg Housing Lands Mortgage Broker in Jail
MYRTLE BEACH, S.C. -- The final defendant in a mortgage fraud case where area manufactured home buyers were stuck with six-figure mortgages for homes they never received was sentenced this week to 18 months in prison.
Former FL Officers Sentenced for Mortgage Fraud
TAMPA, Fla. -- The former Hillsborough County government director of real estate was sentenced this morning to a year and a day in federal prison for two counts of mortgage fraud.
65 Mortgage Fraud Transactions Yield 151-Month Sentence
A Chicago man was sentenced to more than 12 years in federal prison after having been convicted of engaging in a mortgage fraud scheme involving 65 real-estate transactions on the South Side.
$68 Million Mortgage Fraud Case Yields 13th Sentence
Season Heather Hymas, 27, was sentenced Thursday in Boise federal court to five years probation for misdemeanor theft from a financial institution. U.S. District Judge Edward J. Lodge also ordered Hymas to pay $100,272.32 in restitution to Wells Fargo Bank.
Seven Charged in PA Mortgage Fraud Case
The managers of an Allentown, Pa., mortgage company told employees to forge pay stubs, employment histories and other documents to secure loans for borrowers to buy real estate that in many cases they could not afford, federal authorities allege.
Last Defendant Convicted in $39 Million Mortgage Fraud Case
A 37-year-old Homestead man is the last to be convicted in Fort Lauderdale, Fla., federal court in a $39 million mortgage fraud case, according to U.S. Attorney Wifredo A. Ferrer.
Homeowner Recovers Home from Mortgage Fraud After 5 Yrs
Federal authorities on Wednesday unsealed a new federal indictment adding nine defendants to the Operation Wax House mortgage and investment fraud probe.
Meriden Man Admits to Participating in Two Mortgage Fraud Schemes
NEW HAVEN, CT—A Meriden, Connecticut man today admitted his role in an extensive mortgage fraud scheme related to the purchases of numerous homes in New Haven, U.S. Attorney Paul J. Fishman, District of New Jersey, announced.
Allentown Mortgage Co.'S Former Manager Pleads Guilty To Fraud
PHILADELPHIA – Joel Tillett, 36, of Whitehall, PA, pleaded guilty yesterday to charges in connection with a mortgage fraud conspiracy. Tillett, the former general manager of Madison Funding, Inc., a now-defunct Allentown mortgage loan origination company, pleaded guilty to conspiracy and to forging or counterfeiting loan documents. The fraud conspiracy caused mortgage lending businesses to issue millions of dollars' worth of loans that were based on false information.
Former Bank CEO Pleads Guilty to Bank Fraud and Money Laundering
JACKSON—Larry Barnette Hill, 58, of Meadville, Mississippi, pled guilty today in U.S. District Court to bank fraud and money laundering, U.S. Attorney Gregory K. Davis and FBI Special Agent in Charge Daniel McMullen announced.
Officer of Now-Defunct New Frontier Bank Sentenced to Charges Related to the Bank's Collapse
DENVER—Gregory William Bell, age 54, of Weld County, Colorado, was sentenced yesterday by U.S. District Court Judge Lewis T. Babcock to serve 30 months in federal prison for false bank entries, bank misapplication, bank fraud, and money laundering, the United States Attorney's Office, the Federal Bureau of Investigation, the Internal Revenue Service-Criminal Investigation, and the FDIC-Office of Inspector General announced. Following his prison sentence, Bell was ordered to spend three years on supervised release. Judge Babcock has scheduled a hearing on June 12, 2013, to determine how much and to whom the restitution Bell could be ordered to pay should go to.
Sheldon Harmon Pleads Guilty To Bank Fraud, Money Laundering And False Statements To A Bank
PORTLAND, Ore. - Sheldon Harmon, formerly of Ridgefield, Washington now of St. George, Utah pled guilty before U.S. District Judge Marco A. Hernandez today to one count of bank fraud, one count of false statements to a bank, and two counts of money laundering.