Loan Modification

Ramon Anthony Reyes, Jr ?Good Neighbor Next Door/Officer Next Door?

Posted on January 26, 2010
Former Irving Police Officer Pleads Guilty in HUD Fraud Case  ?Good Neighbor Next Door/Officer Next Door? DALLAS?Ramon Anthony Reyes, Jr. has pleaded guilty before U.S. District Judge Jane J. Boyle  to one count of making a false statement to the U.S...

California State Bar Authorities Go After Deceptive Attorneys Who Promote Loan Modification Schemes

Posted on January 25, 2010
Over one hundred California Lawyers were charged with loan modification fraud in 2009.   ?More than 1,200 complaints against California lawyers were filed by the beginning of November regarding loan modification activity,? said Suzan Anderson, supervising trial counsel for the California State Bar loan modification task force...

Marbleheaded Attorney Charged in Mortgage Fraud Scam

Posted on January 24, 2010
Leon Gelfgatt, an attorney from Marblehead, Massachusetts entered an innocent plea Friday, December 18, 2009 to larceny charges. Gelfgatt is alleged to have masterminded an elaborate mortgage fraud scheme. According to a statement from the Massachusetts? State Attorney General, Martha Coakley, Leon Gelfgatt used false documents to give the appearance that mortgages on several [...

Vegas Real Estate Developer Charged with Elder Exploitation

Posted on January 23, 2010
Jamal Eljwaidi, also known as Jean Marc Eljwaidi, was arrested July 29, 2009 on six counts of Financial Elder Exploitation, a felony. Eljwaidi allegedly perpetrated a ponzi scheme scamming millions of dollars from dozens of victims worldwide by taking investors? money for a real estate development and then spent the investments [...

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Multi-Layered Mortgage Fraud Scheme Creates a Ton of Paperwork

Posted on January 22, 2010
Charles E. Walker, 56, owner and president of the Charles E. Walker Realty in Springfield, Missouri was indicted by a federal grand jury December 16, 2009 along with 16 other people on 52 counts related to mortgage fraud conspiracy. Also indicted with Walker were his wife Lind, his son Lee, five real estate [...

Ohio Mortgage Fraud Sends Six to Prison

Posted on January 22, 2010
Julian M. Hickman, 32, now of East Cleveland, appeared before U.S. District Judge Michael Barrett. Hickman was sentenced Thursday, Dec. 10, to 33 months in federal prison for his role in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County...

Philadelphia Judge, Moonlighting as a Real Estate Slumlord, Charged with Fraud

Posted on January 22, 2010
Philadelphia Common Pleas Court Judge Willis W. Berry Jr. - suspended until Jan. 4 and owing $180,000 in a civil fraud verdict - will not face criminal charges for operating a real estate business out of his chambers. Berry, 67, was suspended in July after the Court of Judicial Discipline found that he had [...

Multi-Layered Mortgage Fraud Scheme Creates a Ton of Paperwork

Posted on January 21, 2010
Charles E. Walker, 56, owner and president of the Charles E. Walker Realty in Springfield, Missouri was indicted by a federal grand jury December 16, 2009 along with 16 other people on 52 counts related to mortgage fraud conspiracy. Also indicted with Walker were his wife Lind, his son Lee, five [...

Colorado Ponzi Scheme Nets $31 Million from 400 Victims

Posted on January 20, 2010
Philip R. Lochmiller, 61, of Mack, Colorado along with two co-conspirators was charged in federal court December 17, 2002 with multiple counts of fraud and conspiracy. Lochmiller is accused of cheating local investors out of millions of dollars during the past few years...

A Deadly Combination: Ponzi Schemes and Mortgage Fraud

Posted on January 19, 2010
Patricia Morgen, 62, of Oakland, California pleaded guilty in federal court in San Francisco yesterday to wire fraud, mail fraud and money laundering, United States Attorney Joseph P. Russoniello announced December 17, 2009. In his announcement, U.S. Attorney Russoniello restated the Department of Justice?s top priority to vigorously prosecute individuals who commit mortgage fraud [...

Wire Fraud and Money Laundering Charges Bring Down San Diego Mortgage Brokerage Firm

Posted on January 18, 2010
Lucette Montane, 26, was arrested December 15, 2009 and arraigned in federal court on mortgage fraud charges. United States Attorney Karen P. Hewitt announced that Lucette Montane, a fugitive since June 2008, was arraigned on a 2008 indictment in federal court before Magistrate Judge Jan Adler...

Oakland County Business Owners Face Court Appearance in Foreclosure Fraud Case

Posted on January 17, 2010
As reported by Chad Halcom in Crain?s Detroit Business yesterday, four Oakland County business owners are appearing in court to answer charges of foreclosure rescue fraud, though just one so far faces possible jail time in the case, the Michigan Attorney General’s office announced today...

New Century, Second-Largest Subprime Lender, Executives Charged with Fraud

Posted on January 15, 2010
Three former New Century Financial executives were charged with fraud by the Securities and Exchange Commission on Monday, December 7, 2009: former New Century CEO Brad Morrice; former CFO Patti Dodge and ex-controller David Kenneally. The charges against the New Century trio were filed in U...

Hard Rock Hotel Hits Hard Times with Fraud Suit

Posted on January 14, 2010
The trendy Hard Rock Hotel of San Diego, the first ever condo for that city, was sued for fraud last month by a group of investors who claim that they were lured with a ?bait and switch? scheme. Investors bought suites and had the right to occupy them for a maximum [...

Uodate on the Philly Lawyers Article, Indicted for Money Laundering

Posted on January 12, 2010
The operators of a mortgage firm were among the five defendants charged Tuesday by federal prosecutors in a 15-count indictment for an alleged $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans. These indictments follow the U...

Robert Danenberg,Mortgage Attorney Pleads Guilty

Posted on January 12, 2010
Mortgage Attorney Pleads Guilty in Fraud Scheme After Four Days of Trial Acting United States Attorney Robert S. Cessar announced today, January 8, 2010, that Robert Danenberg, a resident of Pittsburgh, Pennsylvania, pleaded guilty in federal court to a charge of Wire Fraud Conspiracy in connection with a mortgage fraud scheme...

Mark Roth Sentenced to 43 Months in Prison for Mortgage Fraud

Posted on January 12, 2010
Indianapolis Man Sentenced to 43 Months in Prison for Mortgage Fraud Scheme Mark Roth, 55, Indianapolis, was sentenced today to 43 months in federal prison by Circuit Judge David F. Hamilton following Roth?s guilty pleas to one count of wire fraud and one count of money laundering...

Robert Penn Sentenced to Seven Years in Prison for Mortgage Fraud

Posted on January 12, 2010
Robert Penn Sentenced to Seven Years in Prison for Mortgage Fraud Crimes Two Co-Defendants, Stephen Scott Brown and Tamara E. Scott, Sentenced to 37 Months and 24 Months INDIANAPOLIS?Robert Andrew Penn, 44, formerly of Indianapolis, was sentenced to seven years in prison late yesterday by Circuit Judge David F...

VIKTOR KOBZAR, Leader of $47 Million Mortgage Fraud Sentenced to Prison

Posted on January 12, 2010
Leader of $47 Million Mortgage Fraud Scheme Sentenced to Prison Mortgage Fraud Scheme Used Web of Companies and False Loan Documents VIKTOR KOBZAR, 32, of Federal Way, a mortgage broker, was sentenced today in U.S. District Court in Seattle to five years in prison and three years of supervised release for conspiring to commit bank fraud, mail [...

Minneaota Mortgage Fraud Scheme Netted $7 Million and 20 Years

Posted on January 11, 2010
Dustin LaFavre plead guilty to one count of conspiracy to commit mail and wire fraud in connection with this crime. LaFavre was charged on November 5, 2009. Appearing before United States District Court Judge Richard Kyle in St. Paul, the 27-year-old Webster man pleaded guilty today in federal court to bilking more than [...

Whistleblower in World?s Largest Tax Fraud Case Sent to Jail While Real Crooks Avoid Prison

Posted on January 11, 2010
According to a January 4, 2010 Bloomberg Report, Bradley Birkenfeld, was a key informant in a U.S. investigation of offshore tax evasion aided by US Bancorp (UBS). On Jan. 8, Birkenfeld reported to prison for a 40-month prison term as ordered by U.S. District Judge William Zloch in federal court in Fort Lauderdale, [...

Defendant Apprehended on a Shrimp Boat in Caribbean Sea

Posted on January 11, 2010
Man Sentenced to More than Three Years in Federal Prison in Mortgage Fraud Scheme Defendant Apprehended on a Shrimp Boat in Caribbean Sea DALLAS?James Ragnauth, a defendant charged in a mortgage fraud case, who was on the lam for about six weeks and apprehended on a shrimp boat in the Caribbean Sea by the U...

Crisp & Cole Real Estate, Former CPA and Wife Plead Guilty

Posted on January 11, 2010
Former CPA for Crisp & Cole Real Estate, Wife Plead Guilty in Mortgage Fraud Schemes FRESNO, CA?United States Benjamin B. Wagner announced today that KEVIN PATRICK SLUGA, 60, and his wife, LESLIE SLUGA, 57, of Bakersfield, pleaded guilty today before U...

Philly Lawyers Indicted for Money Laundering

Posted on January 08, 2010
In US law, Money Laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. It is the process of creating the appearance that large amounts of money obtained from serious crimes, such as real estate fraud, originated from a legitimate source...

Lend America Barred from FHA and Ginnie Mae

Posted on January 07, 2010
I wrote about Lend America earlier last month here on my Flipping Frenzy blog. The article concerned Lend America?s negative esteem among the halls of the Housing and Urban Development (HUD) for having, ??a default rate that is eight times the industry?s average...

Ponzi Schemes to be Renamed ?Pizzolato? Schemes

Posted on January 05, 2010
Matthew B. Pizzolato, 26, of Tickfaw, Louisiana, was charged December 2, 2009 by a federal grand jury sitting in New Orleans in a 64-count indictment for operating an investment ?Ponzi? Scheme, announced U.S. Attorney Jim Letten. Specifically, Pizzolato was charged with 52 counts of mail fraud ( counts 1-52 ), two [...

Around the Real Estate Fraud World in 80 Seconds

Posted on January 04, 2010
Colorado Springs, CO Prosecutors in Colorado Springs announced November 25, 2009 that a grand jury indicted James Brady and Ray Marshall of LandCo Equity Partners on 33 counts each of securities fraud. As chairman, Ray Marshall and president, James Brodie of LandCo Equity are accused of misleading 15 real estate investors [...

Attorneys General Discuss How to Avert the Avalanche of Foreclosures

Posted on January 02, 2010
The top prosecutors from every state, the Attorneys General, held their winter conference last month in Phoenix, Arizona. On top of their agenda was the nation’s biggest law-enforcement issues: cracking down on mortgage fraud and pushing more lenders to work with homeowners facing foreclosure is on their agenda...

Bethesda Loan Broker Pleads Guilty to Mortgage Fraud Scheme

Posted on December 31, 2009
Mail Fraud and Wire Fraud are offenses under United States Federal Law which refer to specific statutory crimes committed in the United States of America pursuant to any scheme that attempts to unlawfully obtain money or property in which the U S Postal system is used at any point in the commission of a criminal [...

Fort Lauderdale Attorney Charged in Billion-Dollar Ponzi Scheme

Posted on December 30, 2009
Scott Rothstein, former south Florida lawyer, pleaded not guilty on Dec. 1 to U.S. charges he sold investors stakes in fictitious legal settlements. Rothstein, charged with leading a $1.2 billion Ponzi scheme, has surrendered more than 20 properties, plus a collection of luxury cars (Ferraris, Rolls Royces), jewelry and business interests to federal prosecutors who sought [...

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