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Archives April 2, 2006


Fraud Stories From
Patrick Crowley
Fraud Wire

Fraud Broker's Sentence Suspended
A Colorado mortgage broker who pleaded guilty in a state court to leading a $20 million fraud ring will spend no time in state prison for his crimes.

Jose Alfredo Ramirez, 28, who was indicted by a grand jury and pleaded guilty to fraud charges, will skip the jail time as long as he stays out of trouble.

Jefferson County District Judge sentenced Ramirez to four years in prison, but suspended the sentence on the condition that Ramirez not break any more laws, said Pam Russell, public information officer for the Jefferson and Gilpin counties district attorney's office.

"If he is caught doing any little thing he will go to prison," Russell told MortgageDaily.com, adding that the sentence includes 400 hours of community service that Ramirez must perform for Habitat for Humanity.

read all of Patrick's story at MortgageDaily.com
(subscription required)

Georgia takes Action Against 2 Mortgage Brokers
Two women have been banned from originating mortgages in Georgia. Alleged mortgage fraud prompted the revocation of one's broker license while action was taken against the other as a result of operating without a license.

The Georgia Department of Banking and Finance has revoked the mortgage broker's license held by Diana Martin of Platinum Plus Financial Services in Atlanta. In a written statement, the department said it had uncovered evidence "that showed that Ms. Martin and Platinum Plus had made numerous misrepresentations in loan files that were submitted to lenders."

The department also announced it received a court order against Stone Mountain, Ga., mortgage broker Sonya Brown that requires her "to cease and desist from brokering mortgage loans."

A cease and desist order was actually ordered against Brown in September of 2004. But in a statement Rod Carnes, deputy commissioner for non-depository financial institutions, said the state "received evidence that Ms. Brown was still brokering mortgage loans in direct violation of state law."

read the rest of Patrick's story at MortgageDaily.com
(subscription required)

March 30, 2006

TV News Reporter Helps Fraudulently Evicted Family
MarTav Services Corp., a firm that claims to help delinquent borrowers keep their homes, is accused of unfairly fooling family out of their home of 28 years.
read story from NBC5 News .

Busted at Closing
Imran Siddiqui was arrested at a loan closing for trying to use someone else's identification to finance a home purchase.
read story from the Dawson News & Advertiser .

$278 Million Fraud
Following her 3-month sentencing, Anne Owen apologized for helping dupe 12,000 investors out of $278 million as a result of the collapse of HomeGold Financial
read story from The State .

LO Lied on FHA Apps
Kenneth DiPrenda, who had been a loan officer at AMS Mortgage, pleaded guilty to real estate finance fraud on FHA-insured loans.
read story from the Daily Record .

Broker Joins List of Guilty
Mortgage broker David C. Jackson joined Lavelle Snead, Robert Lee Kohlman and Troy Anderson in pleading guility to their roles in a $1.6 million mortgage fraud scheme.
read story from the Pittsburgh Post-Gazette .

Fraud Fugitive Found & Arrested
Rebecca Hauck, one-half of a notorious couple that has eluded investigators as they have criss-crossed the country committing mortgage fraud has been found in Texas.
read story from Realty Times .

read full coverage of the fugitive couple at MortgageDaily.com .

Couple Almost Loses Home to Fraud
The foreclosure on Brenda and Terry Edwards property has been halted amid claims a purchase agreement and other sales documents were slipped in by a crooked lender who gave them a $10,000 home equity loan nearly a decade ago.
read story from the Daily Tribune .

March 28, 2006

IL Sues Mortgage Companies for Fraud
The Illinois Attorney General has filed two lawsuits against three companies she says claim to help homeowners facing foreclosure keep their houses but that actually engage in mortgage rescue fraud.
read story from MortgageDaily.com
(subscription required)

2 Years for Fraud Plea
Barry Fauntleroy, president of EON Institute Inc., was sentenced to nearly two years in prison for creating fraudulent loan packages.
read story from the Daily Record .

read MortgageDaily.com's full coverage of the case .
(subscription required)

Foreclosure Assistance or Foreclosure Fraud?
Scammers seeking some of the accumulated equity of delinquent borrowers are luring the desperate people with promises of keeping their homes.
read story from the Los Angeles Times .

10 People Charged in $4 Mil Scheme
Ten associates of now-defunct Alternative Home Financing Inc. in Florida have been charged for using fraudulent credit histories on $4 million in mortgage loans.
read story from nbc-2 news .

4 More Face Florida Trials
Kelly Abercrombie, Mary Bolan, Todd Kerber and Taya Parodo are accused of defrauding a mortgage lender in flipping scheme and face a July 17 Tampa trial.
read story from the Bradenton Herald .

Attorney Loses License, Then Becomes Broker
Thomas F. Sands, who was convicted of 16 felonies, lost his law license for bilking clients out of $800,000 and has repeatedly filed for bankruptcy, has found a rewarding career as a Ohio mortgage broker.
read story from The Columbus Dispatch .

Broker Testifies on Fraud
Michael L. Matalka, president of the Ohio Association of Mortgage Brokers, found himself in an awkward position when, while testifying to the Ohio state legislature about mortgage fraud, he was asked about Angela R. Robinson, his company's controller and a convicted mortgage fraud felon.
read story from The Columbus Dispatch .

Cincy Broker Pleads Guilty
Kelvin Mitchell, branch manager for Mortgages Unlimited, pleaded guilty to preparing fraudulent mortgage loan applications for a flipping ring.
read story from the Cincinnatti Enquirer .

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

Email Patrick at: PatCrowley@FraudBlogger.com
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