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Fraud
Stories
From
Patrick
Crowley
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Fraud
News Wire
| Last Updated |
Friday,
February 23, 2007, |
04:49
PM |
Texas
Time |
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Crooked Lawyers
A former Kansas elected official who is in trouble along with her attorney husband for alleged mortgage fraud highlights the latest edition of Lawyers Gone Wild.
Katheryn Shields, 60, the former Jackson County executive and her husband, attorney Philip Cardarella, 59, have been indicted along with nine other people on federal charges of "conspiracy and wire fraud for their role in a scheme to engage in mortgage fraud," according to a statement from U.S. Attorney Bradley Schlozman.
"This case represents another tragic example of intelligent individuals -- including lawyers and prominent elected officials -- thumbing their noses at the law in the pursuit of quick and easy cash," said Schlozman, the U.S. Attorney for the Western District if Missouri in Kansas City.
The couple could not be reached to comment, but they have maintained their innocence in published reports.
MortgageDaily.com
subscribers read Patrick's full story
Legislator
Accused of Foreclosure Fraud
The Maryland Attorney General is looking into claims
that a state legislator duped a woman into selling
her home to him.
In a lawsuit filed in Anne Arundel County Circuit
Court, Teresa Milligan accuses Maryland State Delegate
William "Tony" McConkey, a Republican and a real
estate broker, of foreclosure rescue fraud.
McConkey has denied Milligan's claims that he somehow
tricked Milligan into singing over her house to
him.
Kevin Enright, a spokesman for Maryland Attorney
General J. Joseph Curran, confirmed to MortgageDaily.com
that the attorney general's office is "looking into
the matter."
MortgageDaily.com
subscribers read Patrick's full story
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February
23, 2007
Investor
Sentenced for Mortgage Fraud
Indiana man to serve 2 years.
Government
to Host Anti-fraud Workshop
Agency Seeks Development of Tools to Thwart
Identity Theft.
Man
Sentenced for Fraud
Alaa "Alex" Ramadan must serve three-and-a-half
years in prison and will afterwards be deported
to Jordan for leading a mortgage fraud scheme.
read
story from the Deseret Morning News.
Sentenced
Exec May be Released
A judge will soon decide whether to release
Ronald Sheppard, former executive of HomeGold
Financial who was sentenced to 20 years in prison,
while he appeals his convictions on securities
fraud.
read
story from WLTX.
7
Sentenced for Illegal Flipping
A mortgage flipping scheme landed sentences
for seven individuals, including Richard Lucas,
the alleged ringleader who must serve 14 years
in prison.
read
story from WAPT.
Mortgage
Employee Victim of Fraud
The attorney of Robert O. Bryant, charged with
securities fraud, claims his client was a victim
of a Ponzi scheme operated by National Consumer
Mortgage, a company Bryant worked for that was
owned by Salvatore Favata who allegedly misused
funds investors gave for loans that were supposed
to be secured by real property owned by borrowers.
read
story from the Denver Post.
Attorneys
Accused of Mortgage Fraud
Lawyers John Lewis and Angelyn Johnson and four
other individuals are being accused of orchestrating
a scheme that used fraudulent mortgage applications
to straw buyers and show' checks to steal a
woman's home.
read
story from the New York Daily News.
Current
Market Prompts Fraud
Under current real estate market conditions,
mortgage fraud will continue growing through
factors such as buyers cheating their way into
a loan before rates go higher, borrowers in
adjustable-rate mortgage bending rules to obtain
a batter loan, and desperate sellers who are
enticed by fraudsters to find a way out.
read
story from the Telegraph.
February
22, 2007
Mortgage
Broker Sentenced for Fraud
Romero Brice, a broker and owner of Promise
Land Mortgage, received an 87-month prison term
for altering appraisal values to borrow more
money than homes were worth and pushing 83 homes
into foreclosure, a scam that caused losses
of $2.73 million for ABN Amro.
read
story from the Indianapolis Star.
February
20, 2007
Investigators
Quickly Spotting Fraud
While it previously took years for investigators
to unveil and take action against mortgage fraud,
they are now able to quickly crack such cases,
including those of two Kansas City public officials,
Katheryn Shields and Sandra McFadden-Weaver,
who are accused of engaging in fraudulent transactions.
read
story from the Morning Call.
February
16, 2007
Man
Accused of Mortgage Fraud
Michael J. Edison was indicted on charges for
allegedly stealing more than $2 million from
a San Francisco woman as he used her name to
obtain funds for things including a mortgage
and second credit line with Countrywide Mortgage.
read
story from the San Francisco Gate.
Undercover
Investigations Bust Mortgage Fraud
Police in Houston are fighting mortgage fraud
by doing undercover investigations, an effort
landed Doris Chen and seven others in jail.
read
story from the KHOU.
Seniors:
Targets of Mortgage Fraud
One of the more serious forms of fraud scam
artists use against elderly people is persuading
seniors to sign mortgage papers before having
a chance to review them.
read
story from the Record.
Man
Admits FHA Fraud
Timothy Falls pleaded guilty to forming part
of a mortgage fraud scam in which he falsified
his income, credit and the value of a home when
he applied for a Federal Housing Administration-insured
loan through Citywide Mortgage Co., which prosecutors
say was also in on the scam.
read
story from KATC 3.
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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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