Loan Modification

Former Partner in New Jersey-Based Insurance Brokerage Firm Sentenced to Four Years in Prison for Orchestrating $20 Million Fraudulent Loan Scheme

Posted on January 26, 2011
NEWARK, NJ?A former partner of the New Jersey-based insurance brokerage firm Smith Gatta Gelok was sentenced today to 48 months in federal prison for his role in a $20 million fraudulent loan scheme, U.S. Attorney Paul J. Fishman announced. Gavin Gatta, 48, of Wayside, N...

Westport ?Shell? Company Used in Mortgage Fraud Scheme

Posted on January 25, 2011
Westport Man Indicted for Alleged Role in Fairfield County Mortgage Fraud Scheme The United States Attorney for the District of Connecticut today announced that a federal grand jury sitting in Bridgeport has returned a nine-count indictment charging WILLIAM A...

Eight Sentenced in Multimillion-Dollar Mortgage Fraud and Foreclosure Rescue Schemes

Posted on January 25, 2011
LEV L. DASSIN, the Acting United States Attorney for the Southern District of New York, announced that ALEKSANDER LIPKIN, a/k/a “Alex,” GARRI ZHIGUN, GALINA ZHIGUN, JOSEPH PAPERNY, FAINA PETROVSKAYA, JOHN GELIN, TOMER SINAI, and DANIEL MIKHLIN were each sentenced by United States District Judge RICHARD J...

Five Charged in $70 Million ?Dream Home? Mortgage Fraud Scheme

Posted on January 25, 2011
WASHINGTON?A federal grand jury has indicted four defendants, and an information has been filed against a fifth defendant, for their participation in a massive mortgage fraud scheme that allegedly promised to pay off homeowners? mortgages on their “Dream Homes,” but left them to fend for themselves, Assistant Attorney General of the Criminal Division Lanny A...

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Three of 10 Sentenced in Mortgage Fraud Investigation

Posted on January 25, 2011
Three of 10 defendants charged in a mortgage fraud case were sentenced yesterday in Boise by U.S. District Judge Edward J. Lodge, the U.S. Attorney’s Office announced. Michael J. Hymas, 59, formerly of Boise, Idaho, was sentenced to 21 months in prison, three years of supervised release, 80 hours of community service, and $544,647 in [...

Man Pleads Guilty to Tax Fraud and Mortgage Fraud

Posted on January 23, 2011
BUFFALO, NY?U.S. Attorney William J. Hochul, Jr. announced today that Steven Carlson, 52, of Jamestown, New York, pled guilty before U.S. District Judge Richard J. Arcara, to evading the payment of taxes and mortgage fraud. The charges carry a maximum sentence of 35 years in prison, a fine of $1,000,000, or both...

Fort Washington Man Sentenced to 10 Years in Prison for Mortgage Fraud Scheme

Posted on January 23, 2011
Case Investigated by the Maryland and Washington, D.C. Mortgage Fraud Task Forces GREENBELT, MD?U.S. District Judge Alexander Williams, Jr. sentenced Robert Dewain Venson, age 38, of Fort Washington, Maryland, today to 10 years in prison followed by three years of supervised release for mail and wire fraud, money laundering, and failing to file tax returns [...

Jury Convicts Mason Homebuilder for Role in Mortgage Fraud Scheme Involving Luxury Homes

Posted on January 22, 2011
CINCINNATI?A jury in U.S. District Court found Bernard J. Kurlemann, 57, of Mason, guilty of conspiracy and fraud. Kurlemann participated in a mortgage fraud scheme to deceive lending institutions by agreeing to sell high-end luxury properties to ?straw buyers? and submitting false information on purchase contracts and other loan documents regarding down payments that were [...

Manhattan Federal Court Paralegal Sentenced to Three Years in Prison for Role in Multimillion-Dollar Mortgage Fraud and Foreclosure Rescue Schemes

Posted on January 22, 2011
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that MARINA DUBIN, a real estate paralegal, was sentenced yesterday to two concurrent three-year prison sentences in connection with her involvement in a multimillion-dollar, sub-prime mortgage fraud scheme and another foreclosure rescue scheme...

Milwaukee police officer and his wife have been charged with running a mortgage fraud scheme

Posted on January 21, 2011
The Federal Bank Fraud Statute, 18 U.S.C. 1344, generally provides that whoever knowingly executes, or attempts to execute, a scheme or artifice to defraud a financial institution or to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means [...

Ninth Defendant Sentenced to Five Years in Prison for His Role in Large-Scale Mortgage Fraud Ring

Posted on January 21, 2011
BOSTON, MA?A Sharon man convicted of conspiracy, wire fraud, and money laundering was sentenced today for the role he played in a mortgage fraud ring that involved 21 fraudulent property transactions in the Greater Boston area, which defrauded 10 mortgage lenders of more than $10...

Property developer indicted in mortgage lending fraud

Posted on January 20, 2011
Westport Man Indicted for Alleged Role in Fairfield County Mortgage Fraud Scheme The United States Attorney for the District of Connecticut today announced that a federal grand jury sitting in Bridgeport has returned a nine-count indictment charging WILLIAM A...

Title Company Owner and Two Employees Indicted in $4 Million Mortgage Fraud Scheme

Posted on January 20, 2011
The following three Maryland defendants were indicted today for mail and wire fraud arising from a scheme to defraud lenders and a title insurance company of over $4 million: * Stephen J. Troese, Sr., age 71, of Davidsonville; * James Kevin Hughes, age 52, of Crownsville; and * Brenda Lukenich, age 60, of Hughesville...

David J. Hernandez Sentenced to More Than 16 Years in Prison for Swindling More Than 250 Investors of $6.4 Million in Ponzi Scheme

Posted on January 19, 2011
CHICAGO?A Downers Grove man who purported to offer financial investment services to the public was sentenced today to 200 months (16 years, eight months) in prison for engaging in a two-year Ponzi scheme that caused more than 250 victims to lose approximately $6...

Former Chicago Hedge Fund Manager Allegedly Swindled More Than $3.5 Million from 48 Victims in Investment Fraud Scheme

Posted on January 19, 2011
A former Chicago hedge fund manager was taken into federal custody today after he turned himself in for allegedly engaging in an investment fraud scheme in which he swindled more than $3.5 million from approximately 48 victims who invested in funds he purported to operate...

Manhattan U.S. Attorney Charges

Posted on January 18, 2011
Manhattan U.S. Attorney Charges Lawyer with Multi-Million-Dollar Mortgage Fraud, Money Laundering and Obstruction of Justice PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced the unsealing of an Indictment yesterday [...

David J. Hernandez Sentenced to More Than 16 Years in Prison for Swindling More Than 250 Investors of $6.4 Million in Ponzi Scheme

Posted on January 18, 2011
CHICAGO?A Downers Grove man who purported to offer financial investment services to the public was sentenced today to 200 months (16 years, eight months) in prison for engaging in a two-year Ponzi scheme that caused more than 250 victims to lose approximately $6...

Six Defendants Indicted in Alleged $15 Million Mortgage Fraud Scheme Involving More Than 40 Residences in the Chicago Area

Posted on January 17, 2011
Six defendants were indicted today on federal charges alleging that they participated in a $15 million mortgage fraud scheme involving more than 40 residential properties located in Chicago and south suburbs, federal law enforcement officials announced today...

Disbarred Attorney Convicted in Mortgage Fraud Scheme

Posted on January 17, 2011
ROBERT ERNEST BRANDT, 42, a former Kirkland attorney and escrow officer, was convicted in U.S. District Court in Seattle yesterday of conspiracy and four counts of wire fraud. The jury deliberated approximately one day following an eight-day trial. When sentenced by U...

?Malicious? Mortgage Fraud More Than 400 Charged Nationwide

Posted on January 16, 2011
Deputy Attorney General Mark Filip and FBI Director Robert Mueller announced the results of ?Operation Malicious Mortgage,? a massive multiagency takedown of mortgage fraud schemes involving more than 400 defendants nationwide who have been charged over the past three and a half months...

Vallejo Sisters Plead Guilty to Mortgage Fraud

Posted on January 16, 2011
SACRAMENTO?United States Attorney Benjamin B. Wagner announced today that Ralondria Stafford, 36, and Necole Ward, 31, both formerly of Vallejo, pleaded guilty today before United States District Judge Morrison C. England, Jr., to Bank Fraud. According to court documents, from 2004 through 2006, Stafford and Ward, who are sisters, operated RN Realty, a real estate [...

Hundreds Arrested in Mortgage Fraud Sweep

Posted on January 15, 2011
From industry insiders to straw buyers, nearly 500 people have been arrested in a nationwide mortgage fraud takedown that reflects the coordinated efforts of law enforcement to address the growing problem of crime in the housing industry. ?Mortgage fraud ruins lives, destroys families, and devastates whole communities,? Attorney General Eric Holder said this morning at [...

Ponzi Scheme and Mortgage Fraud Mastermind Sentenced to 15 Years, Eight Months

Posted on January 15, 2011
Schemes Involved More Than 400 Victims and 20 Fraudulently Acquired Properties SAN FRANCISCO?The founder and head of Chicago Development and Planning was sentenced yesterday to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering, U...

?Dream Homes? Turns into Mortgage Fraud Scam Nightmare

Posted on January 14, 2011
The company had all the trappings of success?its top officials lived lavish lifestyles, kept a fleet of chauffeur-driven cars, and donated generously to charities. And it used slick marketing to sell its ?Dream Homes Program,? which promised to pay homeowners? mortgages in return for an up-front fee that would be invested in profitable business ventures...

Four Sentenced in Mortgage Fraud Scheme

Posted on January 14, 2011
DAYTON?Four participants in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County, were sentenced today in federal court by U.S. District Judge Michael R. Barrett. Carter M. Stewart, United States Attorney for the Southern District of Ohio, Keith L...

Queens Attorney Pleads Guilty in Manhattan Federal Court to Participating in $23 Million Mortgage Fraud Scheme

Posted on January 13, 2011
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that CHEDDI GOBERDHAN, a real estate attorney, pled guilty yesterday before U.S. District Judge SHIRA A. SCHEINDLIN in Manhattan federal court to a seven-count Indictment charging him with conspiracy to commit bank and wire fraud, and six counts of bank fraud, [...

Sewell, New Jersey Man Pleads Guilty to Multi-Year Bank Fraud Scheme

Posted on January 13, 2011
PHILADELPHIA?Brian Geller, 32, of Sewell, New Jersey, pled guilty today to a multi-year bank fraud scheme that netted him over $1.8 million between the summer of 2005 and the summer of 2009 from JP Morgan Chase Bank, announced United States Attorney Zane David Memeger...

Former West Boylston Resident Charged with Mortgage Fraud Scheme

Posted on January 13, 2011
BOSTON?A former West Boylston resident was charged today in federal court with conspiring with a mortgage broker and various property buyers to defraud numerous mortgage lenders who financed the purchase of homes in the Worcester area. ROWLAND KOJO ADJEI SAPONG, 40, a citizen of Ghana who formerly lived in West Boylston, was charged in an [...

Former Chase Bank Official Convicted of Taking Bribes and Disclosing Existence of a Suspicious Activity Report

Posted on January 12, 2011
RIVERSIDE, CA?A former official with Chase Bank has been found guilty of disclosing the existence of a suspicious activity report (SAR) filed with federal officials, and then soliciting thousands of dollars in bribes to help the borrower deal with a possible criminal investigation related to the illegally disclosed SAR...

Queens Attorney Pleads Guilty in Manhattan Federal Court to Participating in $23 Million Mortgage Fraud Scheme

Posted on January 12, 2011
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that CHEDDI GOBERDHAN, a real estate attorney, pled guilty yesterday before U.S. District Judge SHIRA A. SCHEINDLIN in Manhattan federal court to a seven-count Indictment charging him with conspiracy to commit bank and wire fraud, and six counts of bank fraud, [...

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