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Archives February 5, 2006

 


 
Fraud Stories From
Patrick Crowley



Fraud Wire



Fake Paystubs Online
A Florida Internet company has allegedly offered online services for mortgage loan applicants that needed fake paystubs.

NoveltyPayCheckStubs.com, operating out of Tampa, has boasted that for $89.95 it can make "authentic looking (paycheck) stubs" that "will definitely fool anybody."

But a legitimate payroll company has gone to court with a trademark infringement lawsuit against the now-defunct Web site.

And The Florida Attorney General has launched a civil investigation of the company.


read all of Patrick's story at MortgageDaily.com
(subscription required)



Baltimore Beats Real Estate Bandits
A law enforcement crackdown and media-generated awareness has cooled the former mortgage-fraud hotbed of Baltimore.

More than 100 defendants were sentenced last year as part of a concerted effort by federal prosecutors to stifle property flipping and appraisal scams that had been rampant in entire neighborhoods.

"We still have some open investigations," Joyce McDonald, who handles mortgage fraud for the U.S. attorney's office in Maryland, told MortgageDaily.com. "But the volume is going down. We hope we're one of the reasons" for the decline.

Jim Croft, founder of the Mortgage Asset Research Institute of Reston, Va., or MARI, said that he used to call "Baltimore the flipping capital of the galaxy."

read the rest of Patrick's story at MortgageDaily.com
(subscription required)

February 3, 2006


No Time for Mortgage Fraud
John D. Myers, who along with a former congressional candidate pleaded guilty to mortgage fraud, is asking that he be spared time in prison because there was no loss in his case.
read story from The Kasas City Star .


Husband, Wife Released from Jail
Venere Hutchinson, who has already spent eight months in jail for $2 million in mortgage fraud, made a deal with the City of Buffalo on other charges that will enable him to get out of jail immediately and his wife to leave jail next week.
read story from The Buffalo News .


February 2, 2006


Fraud Prevention Seminars
Agencies throughout the Cleveland area are sponsoring free Fighting Fraud: It's a Family Matter seminars next week.
read story from the Plain Dealer .


Husband, Wife & Broker
Jonathan Bornstein plead guilty to his role in a mortgage fraud scheme with his wife, Sherri, and mortgage broker David Widstrand, that duped mortgage lenders on seven homes.
read story from the South Florida Sun-Sentinel .


1-Stop Fraud Shop
Abrar Haque, an Ohio accountant, sold doctored tax documents and pay stubs that clients used to fraudulently qualify for mortgages, among other things, according to a 79-count indictment.
read story from the Plain Dealer .


February 1, 2006


Borrower Forges Certified Funds
Wendy Jean-Francois used two counterfeit checks totaling $63,000 to purchase a home, according to charges in a case against her.
read story from The Intelligencer .


State Sues Foreclosure Help Co.s
Illinois' attorney general filed lawsuits against Advantage Mortgage Consulting and HomeSavers USA Inc., charging both companies with taking homes and money from vulnerable borrowers.
read story from the Chicago Tribune .


January 31, 2006


Michigan Bankers Say Regulator Shift to Deter Fraud

The Michigan Banker's Association backs the state's recent transfer of the Examination and Investigations Unit of the Mortgage Banking Office to the Office of Financial Evaluation -- noting it with help the "agency better combat mortgage lending fraud."


Escrow Fraud for Sex, Drugs
Thomas Kurzenberger Jr., a former title insurance agency vice president, was sentenced to six years in prison for using escrow deposits to support a drug habit and adult night club escapades.
read Associated Press story .


Illinois Legislation Would Target Foreclosure Rescue Firms
Illinois legislation is being drafted aimed at foreclosure rescue companies that fraudulently promise to help delinquent borrowers but only intend on stealing any remaining equity .
read story from CBS 2 Chicago .


January 30, 2006


Fraud Prevention Co. Hailed by Business Publication
Writer Mark Anderson touts "Fast-growing" CoreLogic as used by "Nine of the top 10 mortgage lenders in the country" on 50,000 loan transactions daily.
read story from the Sacramento Business Journal .


Paper Analyzes eNotary Effect on Mortgage Fraud
An improved electronic notary system could go a long way toward reducing mortgage fraud, according to a white paper by a Massachusetts Institute of Technology professor.
read story at MortgageDaily.com .
(subscription required)


Political Figure Must Stan Trial on Mortgage Fraud
Former politician Sherry L. Freebery's motion for a aquittal on mortgage fraud charges was denied.
read story at The News Journal .


Ohio Scammer Sentenced to Nearly 3 Years
Raymond A. Delacruz has been sentenced to 27 months in prison for bank fraud, mail fraud and money laundering.
read story from The Columbus Dispatch .


Family Pleads Guilty to Mortgage Fraud
Antwan Issa, his wife Rita and sons Roger and Robert pleaded guilty to charges they illegally got mortgages on other people's property, and committed bank fraud and identity theft.
read story from the Asbury Park Press .

 
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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