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Mortgage Fraud Archives

Week Ending April 12, 2012


Mortgage Fraud News


Case Activity


New Home Scam Involved $37 Mil in Mortgage Fraud
Apr. 11 -- Two mortgage fraud promoters accused of generating more than $37 million in fraudulent loans have been sentenced for their roles in a conspiracy that targeted neighborhoods in North Carolina's Mecklenburg and Union counties.
read story at Mortgage Daily


Down Payments Fabricated in Land Sale Scheme
Apr. 9 -- Josh Dobson and Paul Gott III set up a mortgage fraud scheme in which they used buyers' good credit histories and signatures to get hefty bank loans, but then "bamboozled" the buyers with "lies and deceptions" and left investors holding expensive second mortgages with no way to pay, a federal prosecutor said Monday.
read story at Mortgage Daily


Colorado Builder To Do Time
Apr. 8 -- A former builder accused of helping facilitate a mortgage fraud scheme that led to multiple foreclosures in a west Greeley, Colo., subdivision was sentenced on Monday to four years in prison.
read announcement at Mortgage Daily


1 Fraud Mortgage Transaction Gets Loan Officer 6 Months in Prison
Apr. 8 -- A former Virginia Beach mortgage loan officer who received a $140,000 kickback for buying a house from a co-worker will serve six months in prison and another six months in home confinement, a federal judge ruled Friday.
read announcement at Mortgage Daily


5-Year Low for Mortgage Fraud Index
Apr. 8 -- The holidays took a toll on mortgage fraud prosecutions as the Q4-2012 Mortgage Fraud Index sank to its lowest level in nearly five years. However, the drop appears to have only been temporary. California saw a big improvement, while the dollar volume in Florida spiked.
read announcement at Mortgage Daily



Date Defendants State Amount of Loans Overview Source
Apr. 12 Wayne Reed Ogden UT $6,000,000 in restitution Pleaded guilty. Department of Justice
Apr. 12 Kareem Serageldin, David Higgs, Salmaan Siddiqui NY Multiple properties Serageldin pleaded guilty. Department of Justice
Apr. 12 Tandy Anne Kertanis NV $228,000 Sentenced to 81 months. Wells Fargo Bank victim lender. Department of Justice
Apr. 12 Lawrence Michael Day, Donna Shirley Cobb, Bryan Jerome Scott, Michael Jerome Edwards, Scott Cameron Sherman, Donald Lee Mattox TX Multiple properties Indicted. NTXE-News.com
Apr. 12 Jeffrey Garbinski PA Multiple properties Pleaded guilty. Department of Justice
Apr. 12 Daniel A. Vivas VA $2,500,000 in losses Sentenced to 27 months. Department of Justice
Apr. 12 Jamie Bowers-Danielson, Matthew Danielson, Bobbi Jo Wojewoda, Wade Charles Wojewoda IA Undisclosed Pleaded guilty. Department of Justice
Apr. 12 John C. Kline, Randal L. Walters IA $1,169,490 in resitution Kline sentenced to 30 months. Department of Justice
Apr. 11 Walter Bressler, Michael Prieto NH $3,570,000 in restitution Bressler sentenced to 14 months. NashuaTelegraph.com
Apr. 11 James Cockinos NJ $1,480,000 Pleaded guilty. Washington Mutual victim lender. Department of Justice
Apr. 11 David M. Mark, Eve Mazzarella NV $50,000,000 in losses Mark convicted. Department of Justice
Apr. 11 Alois Craig Weingart, John Gallegos, Waunita Weingart CO $12,000,000 in losses Alois Weingart and John Gallegos pleaded guilty. Department of Justice
Apr. 11 Victor Patela NJ $1,920,000 Sentenced to 48 months. Spencer Savings Bank victim lender. Department of Justice
Apr. 10 Nicholas Lindsey NV $3,000,000 Convicted. Department of Justice
Apr. 9 Kenneth Egri, Dean Huffman NC $37,400,000 Egri sentenced to 78 months, Huffman sentenced to 65 months. Department of Justice
Apr. 9 Fred Stevens CT $2,070,000 in restitution Sentenced to 12 months. Department of Justice
Apr. 9 Mark Murphy, Willie G. Manley, Jr., Eric Ponder, Rashika J. Moon, Dontaya S. Devore PA $20,000,000 Murphy indicted. Department of Justice
Apr. 8 Diana Pearl FL $570,000 Defendant's motion to dismissed denied. Leagle.com
Apr. 8 Ronnie Edward Duke, Ryan Andrew Zundel, Nicole Lynn Rothe, William Camsell Wells, Wilinevah Richardson, Donna Marie Walbrook, Anthony Edward Peters, Robert Brierley MI $94,000,000 in restitution Duke sentenced to 13 years. Department of Justice
Apr. 8 Josh Dobson, Paul Gott III TN Multiple properties Trial begins. MortgageDaily.com
Apr. 8 Bryan K. Tobey, Verna Gauthier, Frederick Carrozza, Jose Olivencia, Bryan M. Sevegny, Kenneth Mollicone, Harlan Shabshelowitz, Albert Montgomery, Eugene O'Brien RI Undisclosed Arrested. Rhode Island State Police
Apr. 8 Matthew Hutcheson ID $3,500,000 On trial. NewsTimes.com
Apr. 8 Russell Dunlap, Timothy Davis, Kawika Morelli CO Multiple properties Dunlap sentenced to 4 years. MortgageDaily.com

archived case entries back to 2005

 
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Red Flags Rule
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