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Fraud
Stories
From
Patrick
Crowley

Fraud News Wire

Last Updated Friday, January 12, 2007, 04:49 PM Texas Time


Legislator Accused of Foreclosure Fraud

The Maryland Attorney General is looking into claims that a state legislator duped a woman into selling her home to him.

In a lawsuit filed in Anne Arundel County Circuit Court, Teresa Milligan accuses Maryland State Delegate William "Tony" McConkey, a Republican and a real estate broker, of foreclosure rescue fraud.

McConkey has denied Milligan's claims that he somehow tricked Milligan into singing over her house to him.

Kevin Enright, a spokesman for Maryland Attorney General J. Joseph Curran, confirmed to MortgageDaily.com that the attorney general's office is "looking into the matter."

MortgageDaily.com subscribers read Patrick's full story




Armed & Dangerous

A former mortgage executive who is under indictment for selling the same loans multiple times on the secondary market escaped when federal agents tried to nab him.

Edward Batayeh, who is also known as Ed Bhataybh, has been indicted by a federal grand jury in Oakland on charges of masterminding a $13 million fraud that included reselling loans multiple times.

But when federal agents tried to apprehend him on Nov. 17, he fled in a 2003 BMW X3 with the California license plate 5ETZ317.

"Defendant is a fugitive and should be considered armed and dangerous," the U.S. Attorney for the Northern District of California said in a statement.

MortgageDaily.com subscribers read Patrick's full story

January 12, 2007

Man Imprisoned for Mortgage Fraud
Lawrence Randall Benham was sentenced to 97 months in prison after pleading guilty to his involvement in a multi-million dollar scheme in which he allegedly used straw buyers and exaggerated their financial resources and ability to repay mortgage loans for properties priced in excess of their true value.

read story from KHOU.




Unlicensed Appraiser Sentenced
Chester Underhill was sentenced to 30 months in federal prison and received three years probation for allegedly using his late father's license number to perform more than 1,000 appraisals for five years at the request of mortgage brokers.

read story from 21 WMFJ.




Attorney Arrested on Stealing Charges
Denise Cooper, a lawyer that represented a homeowner in a foreclosure sale, is being accused of using $100,000 gathered from the transaction for her personal use rather than depositing to a county finance commissioner.

read story from the Journal News .




Mayor Candidate Denies Fraud
Katheryn Shields, who has filed to run for Kansas City mayor, and her husband, Philip Cardarella, pleaded not guilty to mortgage fraud charges and alleged their signatures were forged on documents involving the sale of a home they owned.

read story from KMBC-TV.




January 11, 2007

Broker Pleads Guilty to Fraud
Torrence James, a former prisoner who became a mortgage broker, was the last of eight defendants to admit to engaging in a mortgage fraud scheme in which he used false information to obtain mortgages -- and withdrew $0.3 million in proceeds from fraudulent home sales.

read story from the Denver Post.




FBI Mole in Fraud Probe a Criminal
Adrena Troutman, a woman investigated for mortgage fraud, blasted the FBI for using an informant with a criminal history who allegedly recorded Troutman seeking bribes.

read story from the Chicago Sun-Times .




January 10, 2007

Accountant Gets 12 for Fake Docs
Abrar Haque was sentenced to 12 years in prison for selling false financial records to get bank loans, including documents fraudulently showing high income so a man could get $250,000 loan for a home.

read story from the Plain Dealer.




January 9, 2007

Originator Faces 8.5 Years
Mortgage agent Candi Robinson may serve over 8 years in prison after admitting that she conned an elderly woman out of $90,000 of home equity by bailing out the woman's daughter from jail with collateral on the home.

read story from the Plain Dealer.




January 8, 2007

Broker Registration Aims to Cut Fraud
Brokers in Colorado must now register with the state, a move that is part of new legislation aimed to reduce mortgage fraud and can result in brokers' licenses being revoked more easily.

read story from Legal Newsline.







 


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  Patrick Crowley is fraud journalist for MortgageDaily.com and a reporter and columnist for The Cincinnati Enquirer.

Email Patrick at: PatCrowley@FraudBlogger.com
 
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