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Mortgage Fraud Archives
Week Ending Feb. 12, 2010
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Mortgage Fraud News
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Case Activity
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Feb. 11, 2010
Mortgage Fraud Generating Local Bubbles
The FBI says mortgage fraud is at epidemic levels -- possibly fueling the development of local bubbles.
read story from NuWireInvestor
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Feb. 8, 2010
MO Mortgage Fraud Lighter Than in Harder Hit States
While Missouri has a problem with mortgage fraud, its nothing like what has been seen in states like Arizona and California.
read story at St. Louis Globe-Democrat
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Feb. 5, 2010
GA Gov. Announces Fraud Legislation
Mortgage fraud legislation that would grant the Georgia Bureau of Investigation jurisdiction to initiate investigations on offenses related to mortgage fraud has been introducted into the state senate.
read press release
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Feb. 4, 2010
GA Introduces Fraud Legislation
A state senator in Georgia has introduced legislation that would enable state investigations into mortgage fraud.
read story from WALB
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Feb. 3, 2010
MN Fraud Referrals UP 800%
The Minnesota Department of Commerce referred 45 cases of mortgage fraud, securities fraud and insurance fraud to outside authorities in 2009, up from five or fewer in previous years.
read story at Pioneer Press
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Feb. 1, 2010
HUD Budget Includes $88 Mil for Fraud
The U.S. Department of Housing and Urban Development's fiscal-year 2011 budget continues FHA’s $20 million Combating Mortgage Fraud initiative.
read HUD budget proposal
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Jan. 22, 2010
Mortgage Fraud Growth Slows
New government data indicate that mortgage fraud activity is beginning to ease.
read story at MortgageDaily.com
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| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| Feb. 12 |
F. Jeffrey Miller, |
MO |
$25,000,000 |
Acquittal. |
Kansas City Business Journal |
| Feb. 12 |
Beverly A. Ross, Donella Locke |
IN |
$23,500,000 |
63-month sentence. |
Indianapolis Star |
| Feb. 12 |
Jonathan L. Boyd |
OH |
$469,000 in restitution |
6-year sentence. |
IRS.gov
The Columbus Dispatch
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| Feb. 12 |
Joel D. Surprenant |
OR |
$241,000 in losses |
Guilty plea. Victims Bank of America First Franklin Financial corp. |
7th Space |
| Feb. 12 |
James Fish, Kurt Warren Heintz |
MI |
$14,467,546 in losses |
30-month sentence. Victims included IndyMac Bank, Fifth Third Bank, Bank of America, Independent Bank, Mercantile Bank, Union Federal Bank |
Daily Tribune |
| Feb. 11 |
John Mendoza, William Domingo |
HI |
22 charges |
Guilty verdict. |
Honolulu Advertiser |
| Feb. 11 |
Sergio Natera, Anna McElaney |
CT |
price of $102,375 |
Guilty plea in fraudulent short sale. |
Acorn-Online.com
Grenwich Time
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| Feb. 11 |
Michael Lock, Nicole Brown |
WI |
multimillion-dollar |
Sentence of no prison. |
WTAQ
Journal Sentinel
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| Feb. 11 |
Jeremy Beadle, Rebecca Domecillo |
MO |
many transactions listed |
Indictment. |
St. Louis Business Journal
ST. LOUIS POST-DISPATCH
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| Feb. 10 |
Shauna Labee, Steven Grimm, Eve Mazzarella |
NV |
Losses exceeded $17,000,000 |
30-month sentence for Labee. |
IRS.gov |
| Feb. 10 |
Eric Krahnke, Michael Striker |
MN |
$4,000,000 |
37-month sentence. |
Star Tribune |
| Feb. 10 |
Michael Prieskorn, Richard Laho |
MN |
70 transactions |
Not guilty plea. |
Pioneer Press
Star Tribune
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| Feb. 10 |
Ahmed Elbatrawy |
MN |
11 properties. |
$35k fine and loss of RE license. |
Star Tribune |
| Feb. 10 |
Stephen G. Doherty, Edward McCusker, Jeffrey Bennett |
PA |
$14,600,000 |
Guilty plea on bankruptcy fraud. |
Philadelphia Daily News |
| Feb. 9 |
Donald Platten |
FL |
securities, mortgage and tax fraud totaling over $1 million |
22-year sentence. |
Sun Sentinel |
| Feb. 9 |
Ayo Dineji Olaniyan, Gaile Diana Cates,Gerald Snow, Jerry Snow |
OK |
multiple sales, 1 for $215,000 |
Guilty pleas. |
Tulsa World
NewsOn6
Muskogee Phoenix
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| Feb. 9 |
Joel D. Surprenant |
OR |
losses of $315,000 |
Guilty plea in case where victim were Bank of America, First Franklin Financial Corp. |
OregonLive
KTVZ
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| Feb. 9 |
First City Funding |
CA |
18 loans, 1 for $1 million |
Trial gets underway. |
The Recorder |
| Feb. 8 |
Craig Adams |
FL |
$200 million in property value |
Defendant turned FBI informant. |
WUSF |
| Feb. 7 |
president and owner of Homes for Sale by Owner Inc. |
FL |
12 transactions |
6-year prison sentence. |
Examiner |
| Feb. 6 |
Todd Leary, Joseph Garretson |
IN |
losses of $2 mil |
Guilty plea. |
The Journal Gazette |
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