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Mortgage Fraud Archives Week Ending January 14, 2011

Mortgage Fraud News

Case Activity

Nov. 9, 2010

Mortgage Fraud Still a Problem
Among the findings from two mortgage fraud studies is that an increase in the risk of mortgage fraud was mostly due to a government refinance program and loans insured by the Federal Housing Administration. Another finding was that real-estate-owned sales represent more of a problem than short sales. Las Vegas and Nevada respectively represent the city and state with the highest risk of mortgage fraud.
read story at
Nov. 9, 2010

Former Fraud Fugitive Still Maintains CA DRE License
Despite that he tried to flee the country following mortgage fraud charges and was arrested at the Canadian borker, Christopher Jared Warren -- who mortgage fraud trial is in process -- still maintains his broker license in good standing with the California Department of Real Estate.
read story at Sacramento Bee
Nov. 9, 2010

Nevada Receives $1.7 Million to Fight Mortgage Fraud
The U.S. Office of Justice Program has provided $1,700,500 to fund Nevada's mortgage fraud unit.
read announcement from Nevada Attorney General
Nov. 6, 2010

Failed Bank Victim of Huge Mortgage Fraud Scheme
Friday's failure of Pierce Commercial Bank was, in part, the result of losses stemming from a $500 million mortgage fraud scheme, based on criminal and civil legal activity.
read story at
Oct. 24, 2010

Fraud Investigation Firm Raking It In
Investors Mortgage Asset Recovery Co., which audits mortgages to help mortgage insurers find fraud where claims are filed, expects more than $12 million in revenue this year.
read story at Los Angeles Times
Oct. 8, 2010

Banks Get Break on Fraud Prevention Technology
A group of banks are being offered special rates for access to technology that helps prevent mortgage fraud.
read full announcement
Oct. 6, 2010

$1.7 Million for Colorado Fraud
The Colorado Bureau of Investigation has received a $1.7 million grant.
read story from The Denver Post
Oct. 4, 2010

Cost Cuts at SC RE Commission Render it Ineffective
Legislators, consumer advocates and industry experts say that expense cuts at the South Carolina Real Estate Commission have made it an ineffective mortgage fraud watechdog.
read story at
Oct. 1, 2010

LA Hosts Mortgage Fraud Summit
Representatives of the Financial Fraud Enforcement Task Force met in Los Angeles on Sept. 30.
read FBI announcement

LA Has Most Fraud Reports
Based on mortgage fraud reports made since 2008, Los Angeles ranks as the worst city.
read story at
Date Defendants State Amount of Loans Overview Source
Jan. 14 Patrick Reidy NY $2,370,000 5-15 year sentence for grand-larceny. Repayment of restitution over next 10 years.
Jan. 14 Andre Junior Lamerique, Daniel Appolon, Samuel Jean-Louis, Ernst Appolon, Jermaine Blake, Widner Lamarre, Latoya Haltiwanger, Jean Noriscat, J. Daniel Lindley, Eric Levine, Ralph Appolon MA $10,600,000 Sentences: 60 months for Lamerique; 42 months for Daniel; 22 months for Jean-Louis; 120 months for Ernst; 30 months for Jermaine; 87 months for Noriscat; 72 months for Lindley. 12 years for Levine.
Jan. 13 Roy L. Cooper, Donald R. Carter WV $ Guilty pleas.
Jan. 12 Wanda Rivera-Burton, Brenda Tibbs, Lynette Johnson, Viktor Blanks, Dina Dunn, Nathaniel Maxwell IL $15,000,000 Indictments.
Jan. 12 Steven D. Kronewitter, Rosa Perez, Fred Osborne, Richard Esparza, Stephen Jewett, Jamie L. Smith IN $200,000 - $400,000 Guilty pleas from Kronewitter, Perez, Jewett, and Smith. Osborne and Exparza awaiting sentencing.
Jan. 12 Frank Santa, Daniel Agudelo, Christopher Brooks, Macario Deguzman, William Hebert, David Mcguire, David Ramoy, Alexander Reyes, Jeanne Ward, Terrance Ward, Anthony Depierro, Gary Gross, Antonio FL $10,000,000 Charges filed.
Jan. 12 Hugo Oliva, Sergio Caro, Manuel Caro, Ilan Reyes, Orlando Dominguez FL multiple properties Guilty plea by Oliva.
Jan. 12 Gerald Wayne Snow aka Jerry Snow OK Almost $5,000,000 total in criminal forfeiture ordered 40-month sentence, 36-month supervised release.
Jan. 12 Elleni Berger, a/k/a Elleni Klimantis, Randy Berger PA Wire fraud conspiracy, mortgage fraud scheme, and false tax return 3-year sentence and probation.
Jan. 12 Wanda Rivera-Burton, Brenda Tibbs, Lynette Johnson, Viktor Blanks, Dina Dunn, and Nathaniel Maxwell IL $15,000,000 Indictment.
Jan. 11 Blake Matthew Adams SC 1,220,000 Indictment.
Jan. 11 Robert L. Hancher OH 15 properties Guilty plea.
Jan. 11 Rowland Kojo Adjei Sapong MA $1,000,000 Charges filed.
Jan. 10 Charles R. Engle VA $1,000,000 21-month sentence.
Jan. 10 Cheddi Goberdhan, along with David Ramnauth, Peggy Persaud, Orette Killikelly, Rajnarine Singh, Elton Lord, and Taramatee Singh, Ravi Persaud, George Esso, Rafick Baksh, and Mahamood Hussain (41 total) NY $23,000,000 Goberdhan convicted.
Jan. 8 Deborah Fernie TX $13,000,000 6-year sentence.

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