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Week Ending Jan. 15, 2010


Mortgage Fraud News

Case Activity

Jan. 14, 2010

US AG Testifies About Mortgage Fraud
United States Attorney General Eric Holder testified about mortgage fraud warnings in 2004.
read Associated Press story
Jan. 11, 2010

Wisconsin Looking to Convicts from Mortgage Industry
Wisconsin's legislature is preparing a bill that would prohibit anyone with a felony convictions from obtaining a mortgage license.
read story from Wisconsin Public Radio
Jan. 8, 2010

DOJ-Led Effort Includes Mortgage Fraud Targeting
U.S. Attorney General Eric Holder announced a new interagency Financial Fraud Enforcement Task Force that will prevent, prosecute and punish financial fraud -- including mortgage fraud.
read full announcement
Jan. 7, 2010

Fidelity Denies Claims it Hid Mortgage Fraud Litigation
Fidelity National Financial Inc. "emphatically refutes" claims made in a New York Times story that it hid mortgage fraud litigation from its investors.
read full announcement
Jan. 6, 2010

ID Verify Plus Uses 3 Sources to Combat Mortgage Fraud
ID Verify Plus was unveiled by Informative Research, which claims the service combines data verification from three sources -- including the Social Security Administration, the Office of Foreign Asset Control and credit repository databases
read announcement
Jan. 5, 2010

Mortgage Fraud Tops Times-Gazette Poll
A mortgage fraud story was picked by Times-Gazette readers as the top Shelbyville, Tenn., story of 2009.
read story from Times-Gazette
Dec. 30, 2009

Long Beach Mortgage Practices Invited Mortgage Fraud
Management's disregard for red flags contributed to the demise of Washington Mutual Inc. subsdiary Long Beach Mortgage.
read Huffington Post story
Date Defendants State Amount Overview News
Jan. 15 John Morris, Wayne Puff, NJ restitution to lenders & investors of $101 million 20-month sentence for appraiser. The Record
Jan. 15 Todd Phillips, Dwayne Deer, Dawn Stinson MS na Sentencing scheduled. Associated Press
Jan. 15 Charles Harris Mathis Jr. NC $1.5 mil sales price Guilty plea. Charlotte Observer
Jan. 15 Patrick Corvo NC $1.2 mil in losses, 11 homes New charges filed. Charlotte Observer
Jan. 14 Delroy Davy FL millions of dollars of mortgage loans To plead guilty in case where Omni National Bank was defrauded. Associated Press
Jan. 14 Cliff Robertson TX $150,000 Guilty plea McKinney Courier-Gazette
Jan. 14 Debbie Sferrazza, Salvatore Sferrazza, James Ashurst, Heather, Whitney Bonapfel, Keiron Ashurst, Tabatha Sturgill OH $3,000,000 Indictment against family including grandchildren. Cincinnati Enquirer

Business Courier of Cincinnati


Jan. 13 Kirksey J. "Mark" Newton Jr. CA 7 properties Appraiser being sued by Fremont Investment and Loan. Californian
Jan. 12 Seth Gendel, Martin Gendel NY $4,500,000 Father and son indicted. Daily Record
Jan. 12 Mark Roth, Robert Penn, Timothy Brown, Stephen Scott Brown, Jerry Jaquess, Tamara Scott IN $5,000,000 43-month sentence in case where Argent Mortgage Co., Homecomings Financial and The MoneyStation Inc. were victims. Indianapolis Star


Jan. 11 Benjamin Osmanson VT $26,000,000 9-year sentence. IRS.gov


Jan. 11 Jared Tornow, Mikhail Kosachevich CA $40,000,000 70-month sentence. IRS.gov



Department of Justice

Jan. 11 Viktor Kobzar WA $47,000,000 5-year sentence. Federal Way Mirror Reporter
Jan. 11 Mary Rose Wright NC $3,000,000 Guilty plea. Triangle Business Journal


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