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Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
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Archive of FraudBlogger.com entries going back to 2005. |
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Mortgage Fraud News
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Case Activity
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Mortgage Fraud Scheme Involved Attorney, Broker and Developers
May 17 -- After a two-week trial, the fate of a Sevierville title attorney and a Sevier County, Tenn., real estate developer accused in $6 million fraudulent loan scheme will be in the hands of a federal jury today.
U.S. District Judge Thomas Phillips ordered jurors to return to U.S. District Court today to hear last-minute legal instructions before beginning deliberations in the case of title attorney Jerry D. Kerley and developer Jeffrey Whaley.
Kerley and Whaley are accused of plotting with Sevier County developer Kenneth Lee and mortgage broker Mary Bivens in a scheme designed to skim off "equity milk" from fraudulent loans that left SunTrust Mortgage Inc. with a slew of foreclosed cabins and a $1.7 million loss and Citizens Bank in New Tazewell, Tenn., with a potential $500,000 loss in 2005 and 2006.
read story at Mortgage Daily
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Mortgage Broker Says 19-Year Sentence Too Long
May 16 -- A former mortgage broker in prison for his role in a house-flipping scheme is asking a federal court to vacate his sentence, citing improper court procedures and ineffective advice from his lawyers.
read story at Mortgage Daily
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Prison for 4 in $20 Million Scheme
May 14 -- Four people involved in a mortgage loan fraud scheme centered in Central Contra Costa County were sentenced to federal prison Thursday.
read story at Mortgage Daily
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2 Charged in $45 Million Multi-State Case
May 14 -- Two Marion County, Tenn., men have been charged in a mortgage fraud scheme that prosecutors say ran for at least two years, totaled $45 million in losses and involved victims in five states.
read story at Mortgage Daily
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FL Man Sentenced for $20 Million MN Scheme
May 14 -- A man indicted for running one of the state's larger mortgage fraud schemes was sentenced Thursday to six years in prison.
read story at Mortgage Daily
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Real Estate Agent Indicted in 2nd Mortgage Fraud Case
May 10 -- A former real estate agent who was indicted in the Cloud 9 Sky Flats mortgage fraud scandal has been indicted again -- this time for alleged fraud at the Chateau Ridge condo complex in Burnsville, Minn.
read story at Mortgage Daily
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Mortgage Fraud Defendant Escapes Prison Sentence
May 9 -- MYRTLE BEACH, S.C. -- Gaither B. Thompson II -- one of five people charged in a mortgage fraud scheme involving the Pineapple Bay condominium project here -- will be on home confinement for the next seven months after pleading guilty in federal court to a misdemeanor charge of unlawfully receiving compensation in a real estate transaction involving the U.S. Department of Housing and Urban Development.
read story at Mortgage Daily
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Attorney-Defendant Claims He Was Victim in $6 Million Case
May 7 -- It was pre-recession. The real estate market in Sevier County, Tenn., was on fire, and banks were handing out loans hand-over-fist.
read story at Mortgage Daily
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Woman Sentenced to 40 Months in $9 Million Scheme
May 2 -- A Branford woman has been sentenced to 41 months in federal prison followed by two years of supervised release for her role in a $9 million mortgage fraud scheme in southeastern Connecticut.
read story at Mortgage Daily
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HEL Scheme Netted $3.7 Million in Loans
April 30 -- A group that defrauded Wachovia, Bank of America and Washington Mutual of more than $3.7 million with fraudulent home equity loan applications were sentenced in federal court Friday.
read story at Mortgage Daily
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| Date |
Defendants |
State |
Amount of Loans |
Overview |
Source |
| May 16 |
Behrooz Badie, Derek Davis, Dino Rosetti |
CA |
Multiple properties |
Badie convicted. |
Department of Justice |
| May 16 |
Michael Pahutski |
NC |
$15,000,000 |
Asked court to dismiss sentence. |
MortgageDaily.com |
| May 15 |
Thomas Cusack |
NY |
$98,000,000 |
Sustained for 4 years for professional misconduct. |
ThomsonReuters.com |
| May 15 |
James D. Levitt |
RI |
$1,100,000 |
Sentenced to 12 months and 1 day prison. |
Department of Justice |
| May 14 |
Carole Nelson |
MD |
$78,000,000 |
Nelson sentenced to 29 months prison. |
Department of Justice |
| May 14 |
Ashley Lacerda, Francis Santore, Brian Corley, Adam Lacerda, Steven Cox, Alfred Giordano, Joseph Diventi, Ian Resnick, Ryan E. Bird, Catherine Bannigan, Vincent Giordano, Joseph Saxon, Aimee Allen, Genevieve Manzoni, Eric Reilly, Eric K. Reiff |
NJ |
$2,600,000 |
Lacerda, Santore, and Corley arraigned. |
Department of Justice |
| May 14 |
Recardo S. Lewis |
VA |
$4,100,000 |
Lewis pleaded guilty. |
Department of Justice |
| May 11 |
Ronald Nelson, Edith Nelson, Nelda Asuncion, Cristeta Lagarejos |
CA |
$20,000,000 |
Defendants senteced to prison. |
MortgageDaily.com |
| May 11 |
Juan Carlos Rodriguez, David Lam, Pamela Higgins, Carl Alexander, Carol Asbury, Patrick Brinson, Victoria Wilson, David Charles Miller, Jr., Thomas Thelusma |
FL |
Multiple properties |
Rodriguez pleaded guilty; Other defendants previously sentenced. |
Department of Justice |
| May 11 |
Welton Kalani, Stephen Balino, Bobby Wood |
HI |
Approximately $1,500,000 |
Kalani sentenced to 70 months prison; Balino and Wood previously sentenced. |
Department of Justice |
| May 11 |
Michael Anthony Prieskorn, Richard
Matthew Laho |
MN |
$18,000,000 |
Prieskorn sentenced to 72 months prison. |
Department of Justice |
| May 11 |
William E. Baker, Garret G. Gililland, III, Shane Burreson, Niche S. Fortune, Kesha Danine Fortune Haynie |
CA |
Multiple properties |
Baker sentenced to 18 months prison. |
Department of Justice |
| May 10 |
Paul Demos, Michael Fort, Jeffrey Olson |
IL |
$750,000 |
Indicted. |
Department of Justice |
| May 10 |
Davionne Anderson |
NJ |
$1,200,000 |
Indicted. |
New Jersey Attorney General |
| May 9 |
Paul E. Gott, III, Joshua O. Dobson |
TN |
$45,000,000 |
Indicted. |
Federal Bureau of Investigation |
| May 9 |
Jared Mitchell Rothenberger |
MN |
$4,200,000 |
Indicted. |
Department of Justice |
| May 9 |
Jeffrey C. McLendon |
OH |
$7,500 |
Indicted. |
ZanesvilleTimesRecorder.com |
| May 9 |
Sierra Developers, Genesis Homes of Texas |
TX |
$13,000,000 |
Indicted. |
Star-Telegram.com |
| May 9 |
Gaither B. Thompson II, Linda Audino, Anthony Audino, Michael Sichitano, Ford Shelley |
SC |
Multiple properites |
Thompson sentenced to home confinement, probation, and restitution. |
MortgageDaily.com |
| May 8 |
Benjamin Turner, Jacob Vizel |
NY |
$715,000 |
Indicted. |
NewsAndInsight.com |
| May 7 |
Hendrix Moreno Montecastro, Helen Moreno Pedrino |
CA |
$142,000,000 |
Refused to enter pleas. Trial scheduled for 6/21/12. |
PE.com |
| May 7 |
Sergio Martinez |
AZ |
$1,400,000 |
Indicted. |
Department of Justice |
| May 4 |
Todd Britton-Harr |
FL |
$1,000,000 |
Sentenced to 48 months prison. |
Department of Justice |
| May 4 |
Patricia Smith, Jamilah Smith |
NJ |
$1,900,000 |
Each sentenced to 24 months prison. |
Department of Justice |
| May 4 |
George Cavallo, Paula Hornberger, Joel Streinz |
FL |
Multiple properties |
Convicted. |
Department of Justice |
| May 3 |
Jennifer Groneck |
KY |
Approximately $650,000 |
Sentenced to 27 months prison. |
Cincinnati.com |
| May 3 |
Thomas Prusik-Parkin |
NY |
$2,200,000 |
Convicted. |
NYPost.com |
| May 3 |
Jerry D. Kerley, Jeffrey Whaley, Kenneth Lee, Mary Bivens |
TN |
$6,000,000 |
Kerley maintains innocence at trial. |
MortgageDaily.com |
| May 3 |
Yaseen Ahmed, John Welch, Eliot Higueros, Amanda Fanaro, Kristin Daugherty, Razzak Khader, Theodore Cardenas |
IL |
$8,800,000 |
Indicted. |
Department of Justice |
| May 3 |
Darlene Aurelia Bishop, Dayana Mendoza, Jinnate Jones, Marcel Asbell, Walter Brown, Quiana Chestnut Ganter, Jerjuan Gardner, Aisha Hall, Jack Horbulewicz, Yolande Reeves |
TX |
$5,800,000 |
Bishop indicted. Others previously sentenced. |
Oaoa.com |
archived case entries back to 2005
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