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Fraud
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Patrick
Crowley

Fraud News Wire

Last Updated Friday, March 30, 2007, 04:49 PM Texas Time


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

March 30, 2007

Beazer Subpoenaed
Allegations of mortgage fraud at the lending subsidiary of a publicly-traded homebuilder have led to a grand jury subpoena.

read story from MortgageDaily.com




Delinquent Borrowers Deceived
A flyer advertising foreclosure assistance was enough for one borrower to end up losing $60,000 in equity.

read story from CBS4




Bad Broker
Mortgage broker Robin Neil Snyder and his company Mortgage Bankers Ltd. were indicted for taking loan application fees for mortgages that could not be funded.

read story from the Daily Record




Police Promote Legislation
Miami-Dade police detectives, who are overwhelmed with recent cases of mortgage fraud, helped initiate HB 359 -- new legislation designed to crack down on real estate fraud.

read story from the Chicago Tribune




Realtor Scams Clients
Unlicensed real estate broker Sayeda Moin of Long Island was charged with defrauding investors out of more than $600,000 in cash and property.

read story from the Queens Chronicle




Phishing Credit Bureau Databases
Michael Hartsell, through his company First Choice Mortgage, is accused of leading a crime ring that stole $1 million by obtaining personal identification information from credit bureau databases.

read story from the San Diego Union Tribune




Politician Preventing Property Theft
Philadelphia City Councilman Bill Greenlea has introduced a bill aimed at stopping property identity theft.

read story from KYW NewsRadio 1060





Home Grant Ads a Scam
The Office of the Comptroller of the Currency reported borrowers were being fraudulently solicited for unavailable grants for their homes.

read story from the Houston Chronicle




Family Crime Business
Brothers Ramzy and Kamal Moumneh are accused of stealing more than $2 million in home equity while Chuong X. Dam, 33, Demetrios J. Voiklis, 32, and Kimberly Brothers, 28, were alleged to have helped the brothers in foreclosure fraud through First Hanover Mortgage Corp.

read story from St. Petersburg Times




Worst Choice Mortgage
First Choice Mortgage was operated as a bogus company by four people to deceive people into giving up their personal information.
read article at KPBS

read story from KPBS




Dead Fraud
Mark S. Edwards and co-defendant Mark D. Musselman of Vandalia, Ohio-based Phoenix Funding Inc. obtained nearly a dozen loans on behalf of deceased persons.

read story from the Daytona Daily News




March 29, 2007

Clearinghouse Fights Fraud
Swift justice -- all but impossible for the unsuspecting targets of criminal fraud




Fake LO Accused of Fraud
Elvia Rosas Diaz, who allegedly worked as a receptionist but represented herself as a loan officer to several customers, is accused of stealing more than $30,000 from mostly undocumented Spanish-speaking immigrants who gave Diaz down and other payments to obtain mortgages but instead found their money was taken because the business closed its doors.

read story from Yahoo! News




Ex-weatherman Seeks Probation
While Kimberly Lynn Jones received an eight-month sentence for submitting false home sales amounts to help former weatherman Neal Pascal obtain mortgages worth more than the properties, an attorney says Pascal inflated sales prices but paid off the loans, thereby should get probation rather than six months in prison.

read story from The Chattanoogan




Family Arrested for Mortgage Fraud
Victor Ortiz-Rivera, his wife Minerva Rolon-Garcia and two daughters Nydia Ortiz and Nixalis Gotary, a mortgage broker, were arrested for allegedly orchestrating a scheme in which they would help borrowers into home loans but then use their personal information to get second loans for second homes without the victims' knowledge.

read story from WFTV




March 28, 2007

Mortgage Fraud Alleged at Homebuilder
Federal investigations into Beazer Homes USA Inc. center around mortgage fraud allegations at its mortgage unit. Among federal agencies investigating the company are HUD's Office of Inspector General, the Internal Revenue Service, the FBI and the U. S. Attorney's office.

read story from MortgageDaily.com




Mortgage VP Charged with Stealing
Joan Walton, a former vice president of Ameribanq Mortgage Group, is accused of stealing $99,000 by diverting into her own account, rather than parent American Home Bank's account, about 75 checks issued for consumer overpayments on mortgages or for payment of mortgage transaction services.

read story from Lancaster Newspapers




Builder's Mortgages Under Probe
The FBI, Internal Revenue Service and the Justice Department have opened a joint criminal investigation of Beazer Homes USA Inc. for any potential fraud associated with its corporate, mortgage, investment, or other practices.

read story from Yahoo! Finance




March 27, 2007

Bank Selects Money Laundering Detector
Midwest Bank & Trust Company selects GIFTS Software's anti-money laundering solution.




Developer to Face Fraud Charges
Reynaldo Diaz is slated to be arrested on charges relating to taking $940,000 from the Miami-Dade Housing Agency that was supposed to go toward building 28 affordable homes, but instead he produced two homes and diverted thousands to an unrelated project, making him the third developer to allegedly misuse the agency's housing funds.

read story from the Miami Herald




March 26, 2007

Predatory Loan Detection in Lending Solution
Mortgage lenders now able to perform instant compliance reviews from within the loan file.




Mortgage Scams Surfacing Amid Delinquency
Amid the rising tide of subprime loan delinquencies -- with nearly 14.5 percent of adjustable-rate mortgages in this market in delinquent status in the fourth quarter, predatory loans robbing equity from borrowers and "foreclosure rescue" are surfacing.

read story from the Reuters




Judge Upholds Lawyer's Conviction
A judge upheld the civil racketeering conviction of Victoria Sprouse, a lawyer charged in a mortgage fraud scam in February, but has reduced the damages awarded to SouthStar Funding Inc.

read story from the Charlotte Business Journal




Mortgage Fraud 101
Mortgage fraud can be done through something as simple as misstating employment on a loan application or through false bank statements, but the most significant form is in falsifying occupancy.

read story from the Reno Gazette-Journal




Woman Ran Scam from Prison
JRhonda Turpin is back in prison serving a 15-year sentence for running a massive identity-theft scam, including through a friend at mortgage company that provided credit reports, to get $300,000 in fraudulent bank loans, checks and tax returns -- some of this while in prison for nearly a year.

read story from The Plain Dealer
 


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  Patrick Crowley is fraud journalist for MortgageDaily.com and a reporter and columnist for The Cincinnati Enquirer.

Email Patrick at: PatCrowl ey@FraudBlogger.com
 
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