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Mortgage Embezzlement Legal Actions Third-Quarter 2011 Mortgage Litigation Index

Mortgage Daily

Published On: January 9, 2012
Mortgage Embezzlement Legal Actions
Third-Quarter 2011 Mortgage Litigation Index

Legal actions on mortgage-related embezzlement and accounting fraud.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to StoryLink to Story
Gary Foster United States U.S. District Court for the Eastern District of New York $19,000,000 Former Citigroup Inc. vice president suspected of swindling $19 million from his employer, according to a complaint and affidavit by FBI Special Agent Thomas J. D’Amico in support of application for arrest warrant filed last month in U.S. District Court for the Eastern District of New York. United States of America v. Foster M-11-645 6/23/2011 www.mortgagedaily.com/litigationcriminal072511.asp
Philip Coon United States of America U.S. District Court for the Middle District of Florida $1,500,000 A federal judge sentenced the former Coast Bank executive to 18 months in federal prison for his scheme to skim almost $1.5 million from borrowers’ construction loans. United States v. Coon 8:08-cr-00441-EAK-MAP 7/6/2011 www.mortgagedaily.com/litigationcriminal072511.aspwww.mortgagedaily.com/MctAmericanMortgageLink071611.aspwww.mortgagedaily.com/MctSentencePhilCoon070711.asp

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