Loan Modification

Jackson man sentenced to jail for his role in mortgage fraud case

Posted on April 02, 2010
A Jackson County judge sent a man involved with a mortgage fraud scheme to jail Thursday for at least 90 days. Circuit Judge Thomas Wilson also placed Freddie Young Jr. on probation for three years. As a condition of the probation, Young cannot apply for a mortgage or engage in any real estate transactions without the [...

Davie Residents Sentenced for Their Roles in Drug Money Laundering and Mortgage Fraud Conspiracy

Posted on April 01, 2010
Jeffrey H. Sloman, United States Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office; Daniel W. Auer, Special Agent in Charge, Internal Revenue Service, Criminal Investigation; Miguel A...

Hudson man indicted in mortgage fraud case

Posted on March 31, 2010
A Hudson resident is among 16 individuals indicted in a mortgage fraud scheme involving 40 properties and losses of $12 million in Summit County. Ohio Attorney General Richard Cordray and Summit County Prosecutor Sherri Bevan Walsh announced the indictments March 24...

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

Posted on March 30, 2010
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...

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US AG brings more money to fight AZ mortgage fraud

Posted on March 29, 2010
U.S. Attorney General Eric Holder delivered more resources to fight mortgage fraud in Arizona and across the nation Thursday, saying $8 million will be used to beef up investigation teams this spring. Holder made the announcement during a break in a daylong meeting of the federal Financial Fraud Enforcement Task Force, which was [...

San Francisco Man Sentenced to 21 Months for Role in Mortgage Fraud Scheme

Posted on March 28, 2010
Michael Chou was sentenced today to 21 months in prison and ordered to pay $360,800 in forfeiture as a result of his conviction for conspiring to commit wire fraud, United States Attorney Joseph P. Russoniello announced. Mr. Chou pleaded guilty to the wire fraud conspiracy charge on October 30, 2009...

US task force sends strong message on mortgage fraud

Posted on March 27, 2010
Between December 2005 and March 2007, Mario Bernadel and seven accomplices purchased nearly 40 properties in the Phoenix area. What appeared to be a legitimate real-estate venture was instead an illegal scheme that resulted in losses totaling $9.5 million...

New York Woman Charged in Atlantic City Mortgage Fraud Case

Posted on March 26, 2010
The alleged mastermind of a mortgage fraud and money laundering scheme involving residential properties in Atlantic City had an initial appearance in connection with a two-count Indictment today, U.S. Attorney Paul J. Fishman announced. The Indictment charges that Jong Shin conspired with others to obtain more than a million dollars of mortgage loans for unqualified borrowers [...

16 people indicted in massive mortgage fraud case in Summit County

Posted on March 25, 2010
A two-year investigation into an alleged $12 million mortgage fraud case has ended with indictments against 16 people. The charges were announced Wednesday by the Summit County Sheriff’s Office and a mortgage fraud task force composed of local law enforcement...

Clinton Confidant Gets 19 Years for Swindling Banks out of $292 Million

Posted on March 24, 2010
  On the evening of March 13, 2007, limousines lined up outside the Cipriani restaurant in Manhattan?s Chelsea neighborhood. Inside, Hassan Nemazee, surrounded by New York?s deep- pocketed donors, was orchestrating one of the year?s major fundraisers for Hillary Clinton?s presidential bid...

Florida housing scam goes federal, nets 40 indictments

Posted on March 23, 2010
A Florida man convicted in Collin County of scamming thousands of dollars from McKinney homeowners is now facing a federal indictment. John Barry, the owner and operated of the TKI Group and JAB Consulting in Winter Garden, Fla. is one of 32 defendants named in an indictment in the U...

Former loan originator from Michigan convicted on 30 felony counts for mortgage fraud

Posted on March 22, 2010
A former loan originator and licensed notary was convicted Wednesday in federal court on 30 felony counts of conspiracy, bank fraud, wire, fraud and money laundering offenses, following an investigation by U.S. Immigration and Customs Enforcement (ICE)...

Real estate fraud case settled with Atty. General

Posted on March 21, 2010
A $120,000 settlement has been reached with multiple Tucson defendants for their roles in what state Attorney General Terry Goddard called a fraudulent real estate scheme. Those agreeing to the settlement included Andrew T. Silverstein, VinLan Ventures doing business as Re/Max All Executives, and Vincent Volpe...

2 Attorneys Among 40 Defendants in $20M Texas Mortgage Fraud Case

Posted on March 20, 2010
Among 40 defendants charged by a federal grand jury indictment (PDF) announced this week in a Texas case are Daniel Ayers and Anthony Flores, reports the Dallas Morning News. The two, who reportedly served as title company attorneys or escrow officers in real estate transactions at issue in the case, are 1996 graduates of Southern Methodist [...

Ex-CFO Michael Spada admits to $6.3M scam

Posted on March 19, 2010
An East Norriton man accused of embezzling $6.3 million from his former employer pleaded guilty Thursday to wire fraud, bank fraud, filing a false tax return and making a false statement to the federal government. Michael G. Spada, 50, was charged earlier this month with stealing from Scannapieco Development Corporation, in New Hope, and hiding the [...

Five await sentencing after guilty pleas in Upstate mortgage fraud scheme

Posted on March 19, 2010
Prosecutors allege kickbacks, falsified loans A federal judge will decide the fate of five people who have pleaded guilty in a mortgage fraud scheme that prosecutors say involved falsified loans and kickbacks to an upstate homebuilding business. An indictment accused South East Real Estate Solutions of falsifying financial information to help investors qualify for mortgages larger than [...

Two Metro Denver Men Indicted for Mortgage Fraud

Posted on March 18, 2010
Shawn R. Tieskotter, age 36, of Greenwood Village, Colorado, and Craig D. Patterson, age 30, of Littleton, Colorado, were indicted by a federal grand jury in Denver on March 10, 2010, on charges of money laundering, wire and mail fraud. Patterson was arrested by federal agents without incident...

Real estate attorney going to jail for mortgage fraud

Posted on March 16, 2010
Trent Edward Wright, 38, of Cumming, Ga., was sentenced today by U.S. District Judge Timothy C. Batten, Sr. to serve one year and nine months in federal prison on a mail fraud charge involving a mortgage fraud scheme which victimized lenders and title insurance companies...

Former Georgia Closing Attorney Sentenced to Prison in Multimillion Dollar Mortgage Fraud

Posted on March 15, 2010
Trent Edward Wright, 38, of Cumming, Ga., was sentenced today by U.S. District Judge Timothy C. Batten, Sr. to serve one year, nine months in federal prison on a mail fraud charge involving a mortgage fraud scheme which victimized lenders and title insurance companies...

Mortgage fraud charges filed against former Bakersfield Realtor, her father

Posted on March 14, 2010
A former Bakersfield real estate agent and her father face 15 felony counts each of money laundering, conspiracy and grand theft in connection with an alleged multi-million dollar mortgage fraud scheme, newly filed court charges show. Guadalupe Ramirez, 31, and Augustine Ramirez, 60, each are wanted on $1 million arrest warrants...

Loan Broker Sentenced to 108 Months in Multi-Million-Dollar Mortgage Fraud Scheme

Posted on March 13, 2010
Michael Milan, 49, of Bethesda, Md., was sentenced to 108 months in prison, followed by three years of supervised release, for his role in carrying out a multi-million-dollar mortgage fraud scheme. Milan was also ordered to pay restitution of $3,141,409 and to forfeit $1,061,890 in proceeds he obtained...

Fraudsters Plead Guilty to $10.6 Million Land Sale Scheme

Posted on March 12, 2010
Jeffrey H. Sloman, United States Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office; and J. Thomas Cardwell, Commissioner, State of Florida?s Office of Financial Regulation, announce that defendants Daniel Stephen and Patricia De Pons pled guilty to conspiracy to commit mail fraud [...

Owners of strip club nabbed in $2M mortgage fraud scam

Posted on March 11, 2010
  The mother-and-son owners of the strip club where Sean Bell was killed were nabbed Tuesday in a $2 million mortgage fraud scam. Queens prosecutors say Martina Duran, 57, and Roger Arias, 36, used identities stolen from the dead and the elderly to buy and sell three properties...

Owners of strip club where Sean Bell was killed nabbed in $2M mortgage fraud scam

Posted on March 11, 2010
 

U.S. indicts Md. man in mortgage fraud

Posted on March 10, 2010
GREENBELT, Md. -  Authorities Tuesday arrested a Maryland man in what the Department of Justice called a massive mortgage fraud scheme that left victims homeless. Rolando Alonzo Cousins, 31, of Bowie, Md., was indicted Monday on charges of conspiracy to commit mail fraud, mail fraud and money laundering, the Maryland U...

San Jose Man Sentenced to 41 Months in Federal Prison

Posted on March 09, 2010
SAN FRANCISCO?John A. Bui was sentenced today to 41 months in federal prison and ordered to pay $3,500,000 in forfeiture as a result of his convictions for conspiring to commit wire fraud, destruction of records in a federal investigation, and witness tampering, United States Attorney Joseph P...

Merced County law enforcement targets real estate fraud

Posted on March 08, 2010
Merced County’s stock of empty, foreclosed homes can be a magnet for criminal activity: metal theft, tagging, vandalism, illegal squatting. On Thursday, Merced County law enforcement officials gathered in North Merced to call attention to another crime gaining traction in our community: real estate fraud...

Gang Leader?s mortgage scam causing huge bank losses pleads quilty

Posted on March 07, 2010
FEDERAL COURT ? A San Diego gang member who federal authorities said was the leader of a massive mortgage fraud scam pleaded guilty yesterday to participating in a racketeering conspiracy involving bank fraud, money laundering and other crimes. Darnell Bell, 39, faces a maximum of 20 years in prison...

Mortgage company owner sentenced in fraud scheme

Posted on March 06, 2010
      Frederick Earle Deen, 30, was sentenced to 24 months in prison today for his role in a $20 million mortgage fraud scheme that operated in the Twin Cities.   U.S. District Court Judge Richard Kyle handed down the sentence, which was reduced because Deen cooperated with investigators and is expected to testify at future proceedings...

Minnesota Realtor Pleads Guilty in $20 Million Mortgage Fraud Scam

Posted on March 05, 2010
Yesterday in federal court in St. Paul, the 30-year-old part owner of Legacy Lending pleaded guilty to participating in a mortgage fraud scheme that involved 37 separate [...]

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