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Mortgage Fraud Archives

Week Ending March 12, 2010

 

Mortgage Fraud News

Case Activity

March 10, 2010


Detecting Occupancy Fraud
FraudGUARD has been enhanced to detect occupancy fraud as a result of an increase in such schemes.
read full announcement
March 7, 2010


SC Among Top-10 Mortgage Fraud Hot Spots
South Carolina has been recognized by the FBI as on of the nation's worst states for mortgage fraud.
read story at GreenvilleOnline.com
Feb. 26, 2010


Mortgage Fraud Task Force Busy
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
Date Defendants State Amount Overview News
Publication
March 12 TRENT EDWARD WRIGHT GA restitution of $2,409,760 21-month sentence. Justice.gov
March 12 Emma Jean Holmes, Wildor Washington Sr. MO multiple loans Conviction. WIBW
March 11 James B. Duncan, Christopher Oetting CA $142,000,000 Bail denied. The Press-Enterprise
March 11 Jeff Townsend, Theodore Cardenas, John Karapournos, Razzak Khader, Zarak Khan, Sara Mian, Arfeen S. Ahmed, Choudhry Z. Muzaffar, Jason M. Powell IL $7,700,000 License revoked and was fined $20,000. Suburban Life Publications
March 10 Brett Depue, Brian Barney, Maria Ornelas NV forfeit up to $8.5 million Indictment. Justice.gov

LasVegasNow.com

KXNT Radio

LoanSafe.org

March 10 Anthony Capuozzo, Paul Lesniak, Kathryn Clover, Uri Gofman, Gennadiy Simkhovich OH na Guilty pleas. The Plain Dealer
March 10 Brian Ragauckas NJ $513,700 Charges filed. Victim was Countrywide Bank. The Star-Ledger

The Record

March 10 Bradley Aydelott, Roger Ritch, Carrie Snow, William T. McMahan, Jonathan Henderson TN $8,023,866 in restitution 24-month sentence. Shelbyville Times-Gazette
March 10 Rolando Alonzo Cousins, Joy Jackson, Jennifer McCall MD forfeiture of $1.5 million Indictment related to Metropolitan Money Store. Huliq

Official Wire

March 10 Martina Duran, Robert Arias NY $2,000,000 Charges filed. Associated Press
March 9 Timothy Lynn Beliveau MN $2,500,000 Guilty plea. Pioneer Press
March 9 Nicholas Ryan Delon Smith, Gerald James Greenfield, Brett A. Thielen, MN $2,500,000 Indictments. Savage Pacer
March 9 Thomas John Hunter, Frederick Earle Deen, Taylor Trump MN $20,000,000 Guilty plea. Press News
March 8 36-month sentence. FBI.gov
March 8 Ira Kaufman, Elbert Reniva, Theodore Cardenas, John Karapournos, Razzak Khader, Zarak Khan, Sara Mian, Jeff Townsend, Arfeen Ahmed IL $7,700,000 Cited by state. ChicagoBreakingBusiness.com
March 8 John Bui CA $3.5 million in restitution 41-month sentence. KLIV.com
March 8 Micah J. Beaumia, Jill M. Lehn MN $2,200,000 Guilty plea. New Century Mortgage Corp. was a victim. FBI.gov

Star Tribune

Alexandria Echo Press

March 8 Gerald James Greenfield, Brett A. Thielen, Nicholas Ryan Delon Smith MN $2,500,000 Indictment. Finance & Commerce

Star Tribune

March 8 Darnell Bell CA resulted in losses of between $20 million and $50 million Guilty plea. UNION-TRIBUNE

CourtHouseNews.com


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