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Criminal Complaints Third-Quarter 2010 Mortgage Litigation Index

Criminal Complaints
Third-Quarter 2010 Mortgage Litigation Index
Cases involving criminal complaints.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to StoryLink to Story
Adam Jay Hendren United States United States District Court for the District of Alaska $8,503 Alaskan bank officer sentenced to five years probation and 250 hours of community service for theft, embezzlement, and misapplication of funds by a bank officer. Defendant stole Alaska Airline miles from the bank’s corporate mileage account. In re Hendren n/a 4/30/10 http://oldmortgagedaily.com/LitigationCriminal082010.asp
Philip Pestrichello United States U.S. District Court for the Southern District of New York $1,000,000 Defendant pled guilty to operating a home-based mortgage postcard business that defrauded consumers out of over a million dollars. In re Pestrichello n/a 7/13/10 http://oldmortgagedaily.com/LitigationCriminal082010.asp
Norton Helton United States of America U.S. District Court for the North District of Illinois Eastern Division n/a Attorney found guilty of taking money from distressed borrowers in a foreclosure scam. United States of America v. Norton Helton & Charles White No. 06 CR 763 7/13/10 http://oldmortgagedaily.com/LitigationForeclosureFirms092210.asp
John Gilbert Mendoza People of the State of Hawaii U.S. District Court for the District of Hawaii $883,389 Defendant was sentenced to six years in prison in connection with a mortgage fraud scheme involving two properties in Hawaii. n/a n/a 7/30/10 http://oldmortgagedaily.com/LitigationForeclosureFirms092210.asp
Kimberlee O. McAbee United States United States District Court for the District of South Carolina $520,000 Loan officer at Arthur State Bank in Woodruff, SC sentenced to 24 months in jail for embezzling bank funds. In re McAbee n/a 8/16/10 http://oldmortgagedaily.com/LitigationCriminal082010.asp
Roberta L. Stutzman United States U.S. District Court for the Eastern District of Pennsylvania $4,414,538 Former VP of loan accounting at National Penn Bank sentenced to 75 months in prison after pleading guilty to bank fraud, bank embezzlement, and tax fraud. United States v. Stutzman n/a 7/14/10 http://oldmortgagedaily.com/LitigationCriminal082010.asp
Dean Juhl; Charles Brandt; Flora Carmona; Jessica Feliciano; JC Distinguished Finance n/a Weld District Court (Colorado) $629,200 Default judgment entered against defendants for predatory lending practices. n/a n/a 7/16/10 http://oldmortgagedaily.com/MctLawsuitDiscrimination071710.asp
Lynda S. Steele n/a n/a n/a Former loan officer who was successfully sued by group of investors is now facing criminal charges for lying to investors to obtain funding and then using the funds for purposes other than the proposed investment. n/a n/a 7/29/10 http://oldmortgagedaily.com/LitigationInvestor091310.asp
Thomas Priore; ICP Asset Management, LLC; ICP Securities, LLC; Institutional Credit Partners, LLC Securities and Exchange Commission United States District Court for the Southern District of New York $11,000,000,000 SEC sued collateral management company and its founder for fraudulently managing an $11B pool of mortgage-backed CDOs. SEC v. Priore n/a 6/21/10 http://oldmortgagedaily.com/MbsLitigation072610.asp
Global Equity Solutions, Hope Now Financial Services Corp. Florida Office of Financial Regulation na $298,750 Search warrant executed. 250 clients paid at least $1,195 each. na na na oldmortgagedaily.com/LitigationModFirms092810.asp
Capital Loan Specialists, Inc. U.S. Bank, N.A. Court of Appeals of California, Second District, Division Two $495,000 Defendant lost appeal to overturn judgment awarding U.S. Bank $495,000 indemnification on fraudulent loan. U.S. Bank N.A. v. Capital Loan Specialists, Inc. No. B215771 6/30/10 http://oldmortgagedaily.com/MbsLitigation072610.asp
American Mortgage Counseling, Santiago Pineda Denver County n/a n/a Defendant Pineda charged with multiple counts of thefts and accused of stealing thousands of dollars from delinquent borrowers as he promised to refinance and renegotiate their mortgages and stop foreclosure. n/a n/a n/a oldmortgagedaily.com/LitigationModFirms092810.asp
Lee Farkas United States of America U.S. District Court for the Eastern District of Virginia n/a Not guilty plea for former CEO of mortgage lender, which failed, who was indicted in a multi-billion dollar fraud scheme involving TARP funds. United States of America v. Farkas 5:10-mj-1028-GRJ 7/16/10 http://oldmortgagedaily.com/LitigationCriminal082010.asphttp://oldmortgagedaily.com/SecondaryLitigation070810.asp
Leroy Hayden United States of America U.S. District Court for the District of New Jersey (Newark) $136,000,000 Defendant pled guilty to wire fraud charges in connection with a mortgage fraud scheme. USA v. Hayden n/a 5/13/10 http://oldmortgagedaily.com/SecondaryLitigation070810.asp
Eric Koppelman United States U.S. District Court for the Southern District of New York $6,000,000 4-year sentence in case where former title closer who allegedly conspired with a mortgage broker to steal funds that were supposed to be used to pay off existing mortgages. In re Eric Koppelman and Irshad Ramzan n/a 7/6/10 http://oldmortgagedaily.com/LawsuitsTitle083110.asp
Irshad Ramzan United States U.S. District Court for the Southern District of New York $6,000,000 Former mortgage broker who conspired to steal over $6 million in funds that were supposed to be used to pay off existing mortgages received a seven-year jail sentence. In re Eric Koppelman and Irshad Ramzan n/a 6/3/10 http://oldmortgagedaily.com/LawsuitsTitle083110.asp
na Central States Mortgage Corp. U.S. Bankruptcy Court na Trustee investigation finds millions missing. FBI probing individuals. In re. Central States Mortgage Corp. na na http://oldmortgagedaily.com/MctCentralStates072910.asp

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