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Mortgage Fraud Archives

Week Ending February 17, 2012


Mortgage Fraud News


Case Activity


Risk of Appraisal and Income Fraud Rise
Feb. 15 -- Fewer people are likely to lie about whether they will occupy a property, while the probability of borrowers using someone else's identity is also falling. But the likelihood of appraisal fraud has recently worsened, and more people are prone to deceive lenders about their income. The overall risk of mortgage fraud in the country hasn't changed much.
read story at MortgageDaily.com

Former Ohio State Trooper Admits Fraud
Feb. 15 -- A former State Highway Patrol trooper pleaded guilty today to eight charges of wire, bankruptcy and mortgage fraud, two weeks before his trial was to begin in U.S. District Court.
read story at MortgageDaily.com

Russian Realtor Recruited Couple, Landscaper in Fraud Scheme
Feb. 13 -- A federal grand jury has indicted three Sacramento, Calif., residents for alleged money laundering and wire fraud as part of a wide-ranging mortgage fraud probe.
read story at MortgageDaily.com

Realtor Defrauded Banks, Stole from Friends
Feb. 13 -- A high-rolling Sevier County realtor thought the odds were good he would pay back his unsuspecting victims before his crimes were discovered.
read story at MortgageDaily.com


Date Defendants State Amount of Loans Overview Source
Feb. 17 Eric Elegado, Charmagne Elegado, Theodore Cohen, Minh Nguyen, Alexander V. Garcia, Roman Macabulos, Ramin Lotfi, Roderick Huerto, Regidor Pacal CA $15,000,000 Indictments. NBCSanDiego.com
Feb. 17 Janet Damewood WV $37,000 Guilty plea. CitiFinancial a victim lender. Department of Justice
Feb. 17 Matthew Kent, David Rubin, Joshua Gould MO Multi-million dollar scheme Sentences: Kent 30 months prison and $1.2 million restitution; Gould 97 months prison and $4.3 million restitution; Rubin awaits sentencing. BizJournals.com
Feb. 17 Gabriel Viramontes, James Roy Martin, Mario Fellini III, Joseph Salvatore Gallo CA $8,000,000 Sentences: Viramontes 4 years and 9 months prison plus restitution; Martin 20.5 months prison; Fellini 6 months prison plus 5 months home detention; Gallo 5 years probation. Washington Mutual Bank, Long Beach Mortgage, and Fremont Investment and Loan victim lenders. Department of Justice
Feb. 17 Kevin Lee Grady Sr., Lynn Walters, Jimmy Ladell Collins, Carlus Demond Bridgeforth, Alina Jamelle Belmont, Kristen Sarnicola, Edward Hessie Sumrell MI Multiple properties Grady convicted. Other defendants have been charged and entered guilty pleas. MortgageDaily.com
Feb. 16 Rosa Amelia Fernandez, Raul Rocha, Luis Ramos CA Multiple properties Guilty pleas. Defendants await sentencing. MortgageDaily.com
Feb. 16 Jim Lankford, Jon McDade CA $10,000,000 Lankford declared bankruptcy. Defendants scheduled to begin trial on 3/26/12. ModBee.com
Feb. 16 James Hudson Jr. IN $35,000 Sentenced to 10 years probation and $52,000 in restitution. WLFI.com
Feb. 16 Timofey Gurin, Anna Kuzmenko, Vitaliy Andreyev, Andrey Andreyev CA $2,000,000 Indicted. MortgageDaily.com
Feb. 16 H. Gregory Cordell GA $1,000,000 Sentenced to 2 years and 3 months prison plus 5 years supervised release and $1,005,804.20 in restitution. Department of Justice
Feb. 16 William Randolph Tisdale, Jr., Hubert Jones, III, Lendell Beacham, Scott David Eller, Eugene J. Lockhart, Patricia Ortega Suarez, Michael Anthony Caldwell, Donna Lois Kneeland, Bryan J. Moorman, Jermaine Frederick Frazier TX $20,500,000 Convicted. Defendants await sentencing. Department of Justice
Feb. 15 Reginald R. Harper, Troy A. Fouquet LA $2,000,000 Indictments. First Community Bank victim lender. Department of Justice
Feb. 15 William R. Rice, Cheryl R. Sanford MI Multiple properties Indictments. Freep.com
Feb. 15 Antonio Pena, Claudia Xochitl Gil CA $500,000 Indictments. MortgageDaily.com
Feb. 15 Rogelio Ramirez, Jacinto Puentes, Elinor Puentes, Raul Salabarria, Theodore Tarone FL $8,000,000 Indictments. BizJournals.com
Feb. 15 Brenda Jackson, Curtis Briley NV $1,800,000 Jackson sentenced to 2 years prison. Briley awaits sentencing. Both defendants to share $1.8 million restitution. LVRJ.com
Feb. 15 Aaron Michael Hymas, Tiffany Kim Hymas, Michael J. Hymas, Shauntee K. Ferguson, Christopher R. Georgeson, Stanley J. Ferguson, Brent Bethers, Shane Merlin Hymas, Laurie Krechelle Hymas, Melody C. Redondo, Paul Redondo ID $8,000,000 Aaron and Tiffany indicted. Others previously sentenced. Department of Justice
Feb. 15 Richard G. Lane, Michael Lee MA $1,900,000 Lane convicted. Lee previously sentenced to 1 year and 1 day prison plus 3 years supervised release and $1,900,743.61 in restitution. Department of Justice
Feb. 14 Ziad Nabil Mohammed Al Saffar, Sara Beth Bushore Rosengrant, Daniel Al Saffar CA Multiple properties Guilty pleas. Sentencing set for 4/27/12. Department of Justice
Feb. 14 Simon Saed Alizadeh, Kian Ashkanizadeh CA Approximately $4,000,000 Indicted. Department of Justice
Feb. 13 Patricia Ann King (5 total) CA $530,000 Entered guilty plea. Sentencing set for 4/23/12. Co-defendants have pleaded not guilty. WMC Mortgage Corp. and SunTrust Mortgage Inc. victim lenders. Department of Justice
Feb. 13 Benjamin W. Richardson OH $678,275 Entered guilty plea. Department of Justice
Feb. 13 Diane H. Frederick Atari VA $50,000,000 Sentenced to 3 years prison. AgBeat.com
Feb. 13 Jacky Randall McCarter TN $500,000 Sentenced to 2 years prison. MortgageDaily.com

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