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Mortgage Fraud Archives

Week Ending March 23, 2012

Mortgage Fraud News

Case Activity

Wells Fargo is Victim in Indiana Scheme
March 22 -- A 47-year-old Zionsville, Ind., man was sentenced to 30 months in prison by U.S. District Judge Jane E. Magnus-Stinson Wednesday, March 14.
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Attorney Admits Role in FHA Fraud Scheme
March 21 -- A New Haven, Conn., lawyer pleaded guilty Tuesday to making a false statement to the U.S. Department of Housing and Urban Development in connection with a real estate closing, the U.S. States Attorney's Office said today in a statement.
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$31 Million in Fraud Netted Foreclosure Rescue Operator $11 Million
March 21 -- Anthony J. DeMarco III pleaded guilty on Tuesday to conspiracy and fraud charges connected to a mortgage foreclosure rescue scheme involving $31 million in fraudulent loans on 120 properties, the U.S. Attorney's office in Philadelphia said.
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Farm Financed with Fraud
March 21 -- A co-defendant facing allegations of participation in a fraudulent real estate transaction involving Healthy Family Farms testified Monday that he let Sharon Palmer use his name and good credit rating so she could get a loan to buy the farm.
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Title Agency Owner Helped Broker Obtain Fraud Loans
March 19 -- The last of three people, accused of running a mortgage fraud scheme in Broward, was charged with four counts of wire fraud on Thursday, according to U.S. Attorney Wifredo A. Ferrer.
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Date Defendants State Amount of Loans Overview Source
Mar. 23 Steven Grimm, Eve Mazzarella NV $107,000,000 Grimm sentenced to 25 years prison; Mazzarella previously sentenced to 14 years prison.
Mar. 23 Raúl A. Morales-Guanill, Rafael Antonio Pina-Nieves (aka "Raphy Pina"), Orlando Javier Sierra-Mercado (aka "Chiquitín," "Chiqui"), Wilson Álvarez-Luna Puerto Rico $4,071,652 Indictments. Department of Justice
Mar. 23 Randy Alan Carpenter, Anthony Porter, Frank Amelung, John Kevin Foster, Michael Yeomans, Neil O'Rourke NC $108,000,000 Carpenter indicted. Others previously pleaded guilty. Department of Justice
Mar. 22 Ronald Tate DE $1,000,000 Sentenced to 2 years prison. Department of Justice
Mar. 22 William Camsell Wells III, Ronnie Edward Duke, Anthony Edward Peters, Ryan Andrew Zundel MI $100,000,000 Wells entered guilty plea. Duke indicted, Peters and Zundel will be sentenced in Summer 2012.
Mar. 22 Nancy Peterson Kennedy SC Multiple properties Convicted.
Mar. 20 Shawna Lea Pennington ID Undisclosed Guilty plea. Department of Justice
Mar. 20 David Avigdor, Marshall Asmar, Morris Olmer, Rab Nawaz, Wendy Werner, Thomas Gallagher, Syed Babar, Nathan Russo, Alicia Martineau CT Multiple properties Avigdor pleaded guilty. Previous sentences include: Babar to 10 years prison, Nawaz to 90 months prison, Olmer to 60 months prison, Gallagher to 60 months prison, Asmar to 52 months prison, Werner to 48 months prison, Russo to 30 months prison. Martineau awaits sentencing.
Mar. 20 Delton de Armas, Lee Bentley Farkas, Paul Allen, Raymond Bowman, Desiree Brown, Catherine Kissick, Teresa Kelly, Sean Ragland (Taylor, Bean & Whitaker Mortgage Corp.) DC $2,900,000,000 Armas pleaded guilty. Previous sentences include: Farkas to 30 years prison, Allen to 40 months prison, Bowman to 30 months prison, Brown to 6 years prison, Kissick to 8 years prison, Kelly to 3 months prison, Ragland to 3 months prison. Department of Justice
Mar. 20 Anthony J. DeMarco III, Michael Richard Roberts, Sean Ryan McBride, Eric Bascove PA $30,000,000 DeMarco pleaded guilty. Roberts, McBride, Bascove previously pleaded guilty. Department of Justice
Mar. 19 Joseph Bowen Brown, Benjamin Jackson (7 total) AZ $10,000,000 Brown sentenced to 51 months prison. Jackson previously sentenced to 13 months prison. Department of Justice
Mar. 19 Larry Otting, James Stewart, Sharon Palmer, Victoria Bloch CA $1,100,000. Rabobank a victim lender. Otting testified. Stewart, Palmer, and Bloch pleaded not guilty.

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