Feb. 19, 2010
NY Officials Kick Off Mortgage Fraud Campaign
New York Mayor Bloomberg joined other city officials launched a campaign to combat mortgage fraud.
read story from New York Daily News
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Feb. 18, 2010
Risk of Valuation Fraud Skyrockets in CA Areas
The risk of mortgage fraud is higher in several areas of California than any other metropolitan areas of the country -- pushing the risk of fraud in the Golden State higher than in any other state. In fact, the risk of property valuation fraud has more than tripled in four California areas -- the worst in the country.
read story from MortgageDaily.com
Legislation Would Require ID Verification
U.S. Rep. Kenny Marchant (R-Texas) introduced the Mortgage E-Verify Act, which would require that the Department of Homeland Security's E-Verify program be used on agency loans to prevent illegal aliens from committing mortgage fraud.
read story from About.com
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Feb. 16, 2010
Financial Institutions Face Significant Mortgage Fraud Losses
A report from the Federal Financial Institutions Examination Council said mortgage fraud schemes have significantly inreased -- leaving U.S. financial institutions facing more losses.
read story from Dow Jones Newswires
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Feb. 15, 2010
Sen. Warns About IL Mortgage Fraud
Illinois Sen. Dale Risinger (R-Ill.) announced that his state has become a hotspot for mortgage fraud as a greater number of banks reject mortgage refinance applications.
read story from Bureau County Republican
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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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|
| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| Feb. 19 |
Calway Cauley, William Ervin, Ladon McClellan, Joyce Wilturner, Truemeatra Warner |
NV |
Losses up to $400,000 |
Cauley convicted. |
Justice.gov |
| Feb. 18 |
Eric Wayne Moen, Kevin Ray Winkelmann |
MN |
$640,000 |
18-month sentence. GreenPoint Mortgage was victim. |
WCCO |
| Feb. 18 |
Jerold Minney |
CO |
$8 mil in kickbacks |
Administrative law judge found defendant responsible. Lost real estate license. |
Denver Post |
| Feb. 18 |
Michael Anthony Prieskorn, Richard Mathew Laho |
MN |
$5,000,000 |
Recent indictment. |
Albert Lea Tribune |
| Feb. 18 |
Jeffrey Bennett, Stephen Doherty, Ed McCusker, Jacqueline McCusker, John Bariana |
PA |
$14,600,000 |
Guilty plea. |
Bucks County Courier Times |
| Feb. 18 |
Edward Seung Ok, Vladimir Stefanovic, Cynthia Valenzuela, Maria G. Juarez, Martha Rodriguez |
CA |
$13,000,000 |
15-year sentence. |
Orange County Register
Huntington Beach Independent
Inman News
|
| Feb. 18 |
Al Carson Rockett Jr. |
AL |
$1,090,046 in illegal proceeds |
Charges filed |
Associated Press
The Birmingham News
Media Newswire
|
| Feb. 18 |
Joel D. Surprenant |
OR |
losses of $241,000 |
Guilty plea. First Franklin Financial Corp. and Bank of America were victims. |
The West Linn Tidings |
| Feb. 18 |
Louis Cherico, Dominick DeVito, Robert DiDonato, John Liscio, Louis Cordasco Jr. |
NY |
scheme involved multi-million dollar properties |
Indictment. |
Mid-Hudson News Network
The Journal News
|
| Feb. 17 |
Martha Rodriguez, Edward Seung Ok, Cynthia Valenzuela, Vladimir Stefanovic, Maria G. Juarez |
CA |
$40,000,000 |
Sentences handed down. |
IRS.gov |
| Feb. 16 |
Eric Farrington and 10 others |
TX |
na |
Jury selection begins. |
FOX 4 NEWS |
| Feb. 15 |
Kurt Heintz, James Fish |
MI |
Restitution of $14,467,547 |
65-month sentence. |
The Flint Journal |
| Feb. 15 |
Debbie Sferrazza |
OH |
$3,000,000 |
Additional time granted to prepare for trial. |
Journal News |
| Feb. 15 |
Ricky Dean Unruh, Randell Lee Hall, Charles M. Davis, Shanda Lynn Moore, Cheryl Joan Kassebaum, Scott Allen Kassebaum, Steven Ray Spencer |
MO |
$1,149,158 |
15-month and 21-month sentences. |
News-Leader |
| Feb. 15 |
Randy Berger, Elleni Berger |
PA |
losses between $1 million and $2.5 million |
Guilty plea for couple. |
Pittsburgh Post-Gazette |
| Feb. 15 |
Kurt Warren Heintz, James Fish |
MI |
losses of $14,467,547 |
65-month sentence. Victims include Indy Mac Bank, Fifth Third Bank, Bank of America, Independent Bank, Mercantile Bank and Union Federal Bank |
Huliq News |
| Feb. 15 |
Michael Ohayon, David Papera |
CA |
$19,800,000 |
Indictment. Victim Washington Mutual Bank. |
Huliq News |
| Feb. 13 |
Patrick Downey |
AZ |
damages of $32,000 |
Civil lawsuit won against American Home Mortgage. |
press release |
| Feb. 13 |
Charles Murphy, Robert Brunt, Tracey Scullark, John Farano, Douglas Blanchard, Armani D'Aifallah, Walter Jackson |
IL |
$11,000,000 |
Indictment. |
Sun Times |
| Feb. 13 |
Lisa Torres |
RI |
$674,000 |
46-month sentence. Victims include MetLife, Bank of America, Wachovia, IndyMac Bank and CitiMortgage |
Providence Journal |
archived case entries back to 2005
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