edited by: Tracy Coenen,
Fraud Editor
A federal grand jury sitting in Eugene, Oregon, yesterday returned indictments against thirteen individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development (DSD), a company previously headquartered in Bend, Oregon. From 2004 through 2008, DSD built commercial buildings and residential [...]
Maryland Mortgage Fraud Task Force members highlighted their progress and plans in a press conference today, [Press Release] including the filing of criminal, civil, and regulatory actions against more than 250 individuals and companies in 2009.
U.S. Attorney Rod J. Rosenstein said, “The Mortgage Fraud Task Force, [...]
A federal grand jury has indicted Daniel E. Fink Jr., age 43, of Baltimore, for wire fraud and money laundering. Fink owned and operated Homemaxx Title & Escrow LLC (Homemaxx), a title company that conducted residential real estate closings with offices in Middle River and Parkville, Maryland. From February 2003 [...]
After an investigation conducted by the U.S. Department of Housing and Urban Development - Office of Inspector General, the Federal Bureau of Investigation and the Maryland Department of Labor, Licensing and Regulation - Division of Financial Regulation, a federal indictment was returned on December 8, 2009 against two loan officers [...]
On December 8, 2009, the Maryland Attorney General’s Office charged David Young Park, age 43, the former President of Capital City Financial Group in Ellicott City, with theft in Baltimore County Circuit Court. In June of 2007, Park was allegedly working as a mortgage broker and assisted the victim with [...]
The Maryland Commissioner of Financial Regulation has taken action against a number of loan modification companies. This information was contained in a press release from the United States Attorney in Maryland.
U.S. Equity Solutions, LLC, Mortgage Rehabilitation, LLC., Rodney Scott Getlan, Chad Edwards, Brent MacDonald, Jennifer Streaks, [...]In the following press release The Maryland Department of Labor, Licensing and Regulation’s Office of the Commissioner of Financial Regulation, as part of its ongoing crackdown against mortgage fraud, today issued cease-and-desist orders in three additional cases in which entities and individuals are accused of illegal activities [...]
A former Bank of America employee was convicted of wire fraud today in federal court for creating false documents to secure approval of mortgage loan applications.
United States Attorney Carmen M. Ortiz; Warren T. Bamford, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Division; and Susan [...]
The SEC brought its second enforcement action this week stemming from its much discussed market crisis investigations. This case is against a broker dealer and its former CEO Stanley Brooks. It focused on the sale of risky mortgage-backed securities through what was called a “CMO Program” to retail customers looking [...]
In the following press release B. Todd Jones, United States Attorney for the District of Minnesota announced that a 35-year-old Blaine man has pleaded guilty to defrauding CitiMortgage out of $588,200.51 through a mortgage fraud scheme. Appearing before United States District Court Judge John Tunheim in [...]
In the following press release B. Todd Jones, United States Attorney for the District of Minnesota announced that a federal indictment was unsealed today against a Minnesota pair for allegedly orchestrating a mortgage fraud scheme in which they stole more than $2.5 million from lenders nationally [...]
In the following press release it was announced that a 15-count Indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans. The announcment was made by United States Attorney Michael L. Levy, Special Agent-in-Charge [...]
In the following press release B. Todd Jones, United States Attorney for the District of Minnesota announced that a 27-year-old Webster man pleaded guilty today in federal court to bilking more than $7 million from at least 15 real estate mortgage lending companies between 2005 and 2008. [...]
Michael Milan, 49, of Bethesda, Md., pleaded guilty yesterday to conspiracy to commit mail and wire fraud for his role in carrying out a multi-million dollar mortgage fraud scheme.
Neil H. MacBride, United States Attorney for the Eastern District of Virginia, and Joseph Persichini Jr., Assistant Director in Charge of the [...]
On November 23, 2009, the Georgia Department of Banking and Finance (“Department”) announced that it has entered into a Consent Order with Gateway Mortgage Group, LLC, License Number 20712, located at 6910 E. 14th Street, Tulsa, Oklahoma 74112, and its president, John Kevin Stitt, to resolve allegations pertaining to [...]
In the following press release Matt J. Whitworth, United States Attorney for the Western District of Missouri, announced today that seven Kansas City, Mo., residents have been indicted by a federal grand jury for their roles in a mortgage fraud scheme that involved the purchase of a $605,000 house [...]
In the following press release it was announced that Hayung Peter Jin, 46, of Centreville, Va., was sentenced today to 48 months in prison, followed by three years of supervised release, on fraud charges involving his loan brokerage business, known as Business Capital and Investments, Inc., located in Annandale, [...]
Filed under: Real Estate, Fraud, Mortgages
There is something about human nature that when times get tough, crooks get more bold. Such is the case with digg_url = 'http://digg.com/business_finance/How_you_can_avoid_being_a_victim_of_mortgage_fraud'; mortgage-related fraud.In the following press release the FBI in Oklahoma announced that Phillip Seibel, 39, of Edmond, Oklahoma, was sentenced by United States District Judge David Russell to serve 30 months in prison for money laundering stemming from a mortgage fraud scheme, announced Robert J. Troester, Acting United States Attorney [...]
Cuyahoga County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General Richard Cordray and Ohio’s Organized Crime Investigations Commission announced that six defendants pleaded guilty to mortgage fraud-related offenses for their role as sellers in a large [...]
Pennsylvania Attorney General Corbett announced lawsuits against four loan modification businesses accused of deceiving consumers about “mortgage rescues”
Consumer protection lawsuits were filed today against four loan modification or “mortgage rescue” businesses, along with their officers, who are accused of deceiving Pennsylvania consumers seeking help modifying their [...]
Maine Attorney General Janet Mills today joined the Federal Trade Commission, the U.S. Department of Justice and the attorneys general of twenty-six other states in a national crackdown against foreclosure rescue and mortgage modification operations. These companies prey on consumers who are desperate to save their homes from foreclosure. [[...]
As part of his ongoing effort to combat mortgage and foreclosure fraud, Kansas Attorney General Steve Six has joined the Federal Trade Commission, the U.S. Department of Justice, and state attorneys general to announce “Operation Stolen Hope” the latest in the nationwide effort to crack down on bogus mortgage foreclosure [...]
Illinois Attorney General Lisa Madigan today announced three lawsuits against mortgage rescue fraud schemes operating in Illinois as part of a national crackdown with the Federal Trade Commission (FTC) and the U.S. Department of Justice.
“With home foreclosure rates steadily on the rise, we are working closely with our federal [...]
