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Week Ending March 29, 2012


Mortgage Fraud News


Case Activity


Son, Father On Trial in Case of Failed Bank
Mar. 29 -- A Virginia bank loan officer on trial along with his father and other former executives of a failed bank heard witnesses testify in court.
read story at Mortgage Daily (subscription required)


More Indictments in $75 Million Mortgage Fraud Case
Mar. 29 -- A federal grand jury expanded charges against two real estate agents and indicted two others in a 20-count superseding indictment in wire fraud, bank fraud and conspiracy amid an investigation into mortgage fraud.
read story at Mortgage Daily


MA Mortgage Fraud Conviction
Mar. 27 -- A Milton, Mass., man was convicted of bank and wire fraud charges in connection with a property-flipping scheme, according to the U.S. Attorney's Office.
read story at Mortgage Daily


Falsified HUD-1 Closing Statements Funded $3.3 Million in Gambling Losses
Mar. 26 -- Wellington, Fla., resident Dawn Herndon was sentenced Monday morning to five years in prison and ordered to pay more than $3 million after pleading guilty to federal charges that she diverted money from her title company to gamble and pay personal expenses.
read story at Mortgage Daily



Date Defendants State Amount of Loans Overview Source
Mar. 28 Aleksandr Kovalev, Arthur Chang Menefee, Adil Qayyum, Jannice Riddick (aka Jannice Frazier), Florence Francisco, Elsie Pamela Fuller, Leona Yeargin CA Multiple properties Indicted. Department of Justice
Mar. 28 Eric Williams, Aaron Teachout, Isaac Modert, Rick Artibee, Dennis Sare, Nichole Buda, Mario Giannandrea MI $3,000,000 in losses Sentences: Williams - 12 months, Teachout - 51 months, Modert - 60 months, Artibee - 15 months, Sare - 15 months, Buda - 18 months. Department of Justice
Mar. 27 Keith Michael Courtney, John Johns NM $1,601,775 Courntey convicted. Department of Justice
Mar. 27 LaFrances Dudley O'Neal, Donald M. Ramsey, Tania Firmani DC $2,600,000 Convicted. Department of Justice
Mar. 27 George Kubini, Dov Ratchkauskas, Sandra Svaranovic, Arthur Smith, Robert Arakelian, Rhonda Roscoe, Rochelle Roscoe, Bartholomew Matto, Cynthia Pielin, Crystal Spreng, Daniel Sporrer, Karen Atkison PA $75,000,000 Kubini, Ratchkauskas, Svaranovic and Smith indicted. Department of Justice
Mar. 26 Halid Amer, Shani Shehu TX $8,800,000 Amer and Shehu additionally indicted for attmpeting to bribe a judge. DallasObserver.com
Mar. 26 Loronda Murphy, Scott Forcino NY $720,288 in restitution Murphy sentenced to 54 to 162 months. Westchester County District Attorney
Mar. 26 Hussein "Sam" Nazzal Edward A. Schneider, Eric Morton, Ross Carey, Majed Tawbe, Mounif Zeaiter MI $750,000 Nazzal, Schneider convicted. Department of Justice
Mar. 25 Edward Johnson MA Undisclosed Pleaded guilty. Department of Justice
Mar. 25 Alexander A. Romaniolis CA $5,000,000 Arrested. Department of Justice
Mar. 25 Dawn Herndon FL $3,300,000 Sentenced to 5 years. MortgageDaily.com

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