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Week Ending Feb. 26, 2010


Mortgage Fraud News

Case Activity

Feb. 26, 2010

Mortgage Fraud Summit
A new fraud task force in Merced, Calif., has 20 active investigations going.
read story from Merced Sun Star
Feb. 24, 2010

Mortgage Fraud Summit
The first of several events focusing on mortgage fraud was attended today by the U.S. Department of Justice, bank representatives and mortgage lenders.
read story from MortgageDaily.com
Feb. 22, 2010

Fraud Prevention Guide Updated
The Federal Financial Institutions Examination Council issued an updated mortgage fraud prevention guide to help examiners understand, identify and detect mortgage fraud schemes.
read story from Bank Info Security
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
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
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
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
Date Defendants State Amount Overview News
Feb. 25 Reginald Robinson, Kasmir Billon CA scheme Murder trial begins where one mortgage fraud defendant accused of killing another. Contra Costa Times
Feb. 25 ERIC KOPPELMAN, IRSHAD RAMZAN NY $6,000,000 Guilty pleas. LawFuel.com

Empire State News

Feb. 25 Kyle Grasso, Joseph Babajian CA $40,000,000 Sentencing scheduled. Beverly Hills Courier

KPCC Wire Services

Feb. 25 Robert Capehart VA $2,000,000 Guilty plea. Associated Press


Feb. 25 Roxanne Saunders Gilliland AL single loan. Guilty plea. The Gadsden Times
Feb. 25 Stephen M. Gunther VA $1,000,000 Charges filed. The Virginian-Pilot
Feb. 24 Shaheid Bilal, Rhonda Payne, Richard Britt NJ $3,000,000 Indictment filed. New Jersey Real-Time News
Feb. 24 Michael Hicks, Michael Lee MA 5 properties 42-month sentence. The Patriot Ledger
Feb. 24 Wayne Marlon Benedic Lezama VA $4,000,000 5-year sentence. Associated Press
Feb. 24 Marcus Williams, Kimberly Anderson, Scott Peters CO 23 counts Indictments. Denver Post

Denver Business Journal


Feb. 23 Michael Hicks MA losses of $1,000,000 42-month sentence. IRS.gov
Feb. 23 Christie J. McGougan SC multiple transactions Guilty plea. The State
Feb. 23 Michael Ohayon, David Papera CA $19,000,000 Indictments. THE STAR
Feb. 23 Lynn Anne Ingle TX HUD losses of $964,814 on 21 loans 3.5-year sentence. Fort Worth Star-Telegram
Feb. 23 Chris Nero, Roy Fife AZ 27 fake loans Guilty plea. Arizona Daily Star
Feb. 23 Calway William Cauley, William Ervin, Ladon McClellan, Joyce Wilturner, Truemeatra Warner CA scheme Conviction. Las Vegas Now
Feb. 22 Jason Jester, Randy Carretta PA scheme Sentence of probation and home detention. The Tribune-Review

Pennsylvania RealEstateRama

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