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Mortgage Fraud Archives

Week Ending April 6, 2012


Mortgage Fraud News


Case Activity


Straw Buyer Sees 2-Year Sentence
April 5 -- A straw buyer in a Jose Guzman-led scheme to defraud mortgage lenders was given two years in prison today in Hartford, Conn.'s, U.S. District Court.
read story at MortgageDaily.com

Attorney Sentenced for $3.6 Million Fraud by Employees Son
April 5 -- A Trumbull real estate lawyer has been sentenced to two years and three months in federal prison after pleading guilty in connection with a long-running real estate scam that cost lenders more than $3.6 million.
read story at MortgageDaily.com

FBI Sees Mortgage Fraud Morph into Rescue Schemes
April 5 -- The FBI has remade itself in the post-9/11 era to focus on counterterrorism, but the agency continues to battle major financial fraud in key areas familiar to South Florida, like mortgages and healthcare as well as corporate and securities violations, FBI director Roberts Mueller told a lunch audience at the Greater Miami Chamber of Commerce Wednesday.
read story at MortgageDaily.com

Title Firm Chief Tracked Down in Jamaica
April 5 -- A Parkland, Fla., woman pleaded guilty on Wednesday to her role in two mortgage fraud schemes, worth about $12 million, in Broward and Palm Beach counties.
read story at MortgageDaily.com

Mortgage Broker a Major Player in SC Fraud Case
April 5 -- A federal judge has issued an arrest warrant for Jeremy Eason, a former Myrtle Beach, S.C., mortgage broker who is accused of playing a major role in a widespread mortgage fraud scheme that cost banks millions of dollars during last decade's real estate boom along the Grand Strand.
read story at MortgageDaily.com

OK Man Sentenced for Loan Fraud, Ponzi Scheme
April 4 -- A Tulsa, Okla., man whom a federal prosecutor called "an embezzler that was running a Ponzi scheme" was sentenced Tuesday to a year in custody and ordered to pay more than $300,000 in restitution to two area banks.
read story at MortgageDaily.com


Date Defendants State Amount of Loans Overview Source
Apr. 6 Alan Goings IN Multiple properties Sentenced to 6 months prison. Department of Justice
Apr. 6 Stephen C. Netherton KY $5,000,000 Sentenced to 24 months prison plus $870,000 in restitution. Department of Justice
Apr. 6 Edwin Parada CA $2,000,000 Pleaded guilty. SFAppeal.com
Apr. 6 Carolyn S. Ethridge, Mark Allen Ethridge TN $1,000,000 Each sentenced to 1 year and 1 day prison. Department of Justice
Apr. 6 Sergio Natera, Anna McElaney CT $132,500 Natera sentenced to 2 months prison plus 3 years supervised release; McElaney previously sentenced to 8 months prison plus 6 months home confinement. Regions Bank a victim lender. Department of Justice
Apr. 6 Samuel Paul Bain CA $3,890,000 Judgment filed. Federal Trade Commission
Apr. 5 Stephen C. Netherton KY $5,000,000 Sentenced to 2 years prison plus $870,000 in restitution. Wells Fargo, Bank of America, Accredited Home Lenders, Primary Residential Mortgage Co. and First Franklin Finance Co. victim lenders. BizJournals.com
Apr. 5 Ronald L. Byrd, Scott W. Brauer OH $474,000 Indictments. Department of Justice
Apr. 5 Lucy Cordeiro DeMelo, Gary Snook CT $1,000,000 DeMelo sentenced to 6 months and 1 day prison plus 6 months home confinement, 3 years supervised release and $828,104 in restitution. Snook previously sentenced to 2 years prison plus $1.3 million restitution. Department of Justice
Apr. 5 William Brown, Charles Harvath, Stephen F. Corba, Jr., John Siuszko, Michael Williams NJ $40,800,000 Brown pleaded guilty. Other defendands previously pleaded guilty. Department of Justice
Apr. 5 Josh Leo Johnson CA $135,000. SunTrust a victim lender. Sentenced to 12 months prison and $130,000 in restitution. Department of Justice
Apr. 5 Angel Urena, Jose Guzman CT Multiple properties Urena sentenced to 24 months prison plus 2 years supervised release and $352,676.44 in restitution. Guzman awaits sentencing. MortgageDaily.com
Apr. 5 Maurizio Lancia CT $3,600,000 Sentenced to 27 months prison. MortgageDaily.com
Apr. 5 Jeremy Eason, Gary Albert Hager, Kenneth Paul Holmes, Darin Epps SC $5,800,000 Arrest warrant issued for Eason. Hager previously sentenced to 24 months prison, Holmes previously sentenced to 5 months prison, Epps previously sentenced to 33 months prison. MortgageDaily.com
Apr. 4 Michelle Austin-Wilks, Ghaith Al Nahar, Romy Defay, Jeffery Gilbert, Philip Jay Newman, Jinnie Mathurin, Guhier Florvilus FL $12,000,00 Austin-Wilks pleaded guilty. Previous sentences: Nahar to 63 months prison plus 3 years supervised release and $1,863,109.30 in restitution, Defay to 33 months prison plus 3 years supervised release and $441,747 in restitution, Gilbert to 3 years probation and $441,747 in restitution, Newman to 21 months prison plus 3 years supervised release and $662,051.42 in restitution, Mathurin to 1 year 1 day prison plus 3 years supervised release and $1.17 million in restitution. Florvilus awaits sentencing. Department of Justice
Apr. 4 Kristen Anne Way TX $6,012,191 Sentencing appeal denied. US Court of Appeals 5th Circuit
Apr. 3 Akintayo Abimbola Ayorinde NY $2,100,000 Defendands disbarred. NYCourts.gov
Apr. 3 Stephen B. Glenn OK $300,000 Sentenced to 6 months prison plus 6 months home detention and $302,000 in restitution. MortgageDaily.com
Apr. 3 Celia Thomas MA $60,000 Convicted. Department of Justice
Apr. 3 Michele Mitchell, Jeremy Pratt AZ $5,300,000 Guilty pleas. Department of Justice
Apr. 2 Freddy Lentz, Anthony Lewis, Maria Arriaza, Deon Jackson, Jennifer Le, Matthew Balsz CA $4,000,000 Lentz sentenced to 3 years probation. Lewis, Le, Jackson, and Balsz previously pleaded guilty and await sentencing. Arriaza convicted and awaits sentencing. ContraCostaTimes.com
Apr. 1 Craig Whitehead, Craig Adams, George Cavallo, Paula Hornberger, Joel Streinz, George Bobka FL $13,200,000 Whitehead sentenced to 3 months home detention and 250 hours community service. HeraldTribune.com

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