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Mortgage Fraud Archives

Week Ending February 24, 2012


Mortgage Fraud News


Case Activity


San Diego Realtor, Wife Indicted in $50 Million
Feb. 23 -- SAN DIEGO -- Federal prosecutors Tuesday indicted a prominent Mira Mesa realtor, his wife and seven employees of defrauding banks and home buyers of more than $50 million.
read story at MortgageDaily.com

3 Guilty Pleas in $35 Million Mortgage Fraud Case
Feb. 22 -- Three guilty pleas entered last week close the book on nearly all of the 14 federal mortgage fraud cases filed two years ago after local real estate professionals reported the shady business practices.
read story at MortgageDaily.com

Mortgage Fraud Defendant Claims Lender Lost Nothing on Securitized Loan
Feb. 20 -- One of two defendants who have already pleaded guilty to defrauding Countrywide Home Loans on a $760,000 mortgage claims that because the loan was securitized, Countrywide didn't face any losses. The strategy is intended to avoid a prison sentence.
read story at MortgageDaily.com
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2 Indictments Bring Number Charged in Sacramento Case to 55
Feb. 20 -- Four more Sacramento-area residents face criminal charges as part of the federal government's investigation into one of the region's largest alleged mortgage fraud schemes.
read story at MortgageDaily.com

Father of Former Michigan Football Players Found Guilty
Feb. 20 -- GRAND RAPIDS, Mich. -- TheU.S. Department of Justice announced Friday that a former Grand Rapids realty broker accused of wire fraud has been found guilty on all counts.
read story at MortgageDaily.com

Pair Charged in Mortgage Fraud Case
Feb. 20 -- Two people have been charged with real estate fraud in the use of a "straw borrower" to obtain two mortgage loans totaling more than $500,000 for a Moorpark, Calif., home, according to the District Attorney's Office.
read story at MortgageDaily.com


Date Defendants State Amount of Loans Overview Source
Feb. 24 Wiley C. Chandler, Anthony B. Ghio, John R. Vanzetti, Theodore B. Hutz, Richard W. Northcutt, Yama Marifat, Gregory L. Jackson, Walter Daniel Olmstead, Robert Rose, Kenneth A. Swanger CA Multiple properties Guilty pleas. Department of Justice
Feb. 24 Winnie Joanne Barefoot (a/k/a Winnie Jo Budzina, a/k/a Winnie JoAnne Conn, a/k/a Joanne Knopsnyder, a/k/a Olivia JoAnne Morgan, a/k/a Olivia JoAnne Barefoot Morgan) MD $2,600,000 Guilty plea. Department of Justice
Feb. 24 Michael Anthony Baker, Monique Untae Stallworth, Koreem Baker, Sterling Wesley Harris, Folami Dayo Baker TX $22,000,000 Sentences: Michael Baker 15 years prison plus $7,546,739 in restitution; Koreem Baker 4 years and 9 months prison; Sallworth previously sentenced to 3.5 years prison; Harris 6 years and 10 months prison; Folami Baker 37 months prison. CourthouseNews.com
Feb. 24 Phillip Weaver OH Multiple properties Indicted. WFIN.com
Feb. 23 Paulo Montenegro, Rosana Pereira MA $250,000 Pleaded not guilty. Boston.com
Feb. 23 Leonard Williams, Joshua Clymer, Garret Griffith Gililland III CA Multiple properties Indictments. Department of Justice
Feb. 23 Edward Toledo, Raymond Vega NJ $469,500 Toledo and Vega banned from operating any foreclosure-related business in New Jersey, ordered to pay $189,500 in restitution and $280,000 in civil penalties. New Jersey Attorney General
Feb. 22 Kelsey Torrey Hull, Jonathan Alfred Kimpson, James Michael Green, Herbert Bush, Wilbur "Sonny" Lebak, Kevin Claude Barnett, Gia Joy Glasse-Harrris GA Multiple properties Sentences: Hull sentenced to 151 months prison plus 6 months home confinement and 5 years supervised release; Kimpson sentenced to 102 months prison plus 6 months home confinement and 5 years supervised release; Green sentenced to 37 months prison plus 6 months home confinement and 5 years supervised release; Bush sentenced to 37 months prison plus 6 months home confinement and 5 years supervised release; Letak sentenced to 30 months prison plus 6 months home confinement and 5 years supervised release; Barnett sentenced to 5 years probation; Glasse-Harris previously sentenced. Department of Justice
Feb. 22 Thomas E. Green (5 total) VA $2,180,000 Guilty plea. Department of Justice
Feb. 22 Loan Thituong Nguyen, Lynn Eichenberger CA $2,000,000 Indicted. Orange County District Attorney
Feb. 22 Ayda Young, Yohany Garcia, Zoraida Abreau, Johnny Bou Nassar FL $2,400,000 Indicted. CBSLocal.com
Feb. 22 Rex Adams AZ $6,000,000 Indicted. TucsonSentinel.com
Feb. 22 Tyler Fitzsimons, Shannon Egeland, Jeremy Kendall, Robert Brink, Teresa Ausbrooks, Michael Wilson, Del Barber, Jr. OR $20,000,000 Guilty pleas. Department of Justice
Feb. 22 Mark J. Bellotti, Jonathan P. Domash NJ $2,600,000 Guilty pleas. New Jersey Attorney General

archived case entries back to 2005

 
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