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Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
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Mortgage Fraud Archives
Week Ending May 13, 2011
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Mortgage Fraud News
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Case Activity
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Two More Plead Guilty in $2 Million Mortgage Fraud Case
May 13 -- With guilty pleas from two more defendants in a $3 million case of mortgage fraud, a total of seven defendants have now admitted guilt. Three more defendants still face trial.
read full story at MortgageDaily.com
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30 More Face Possible Indictment in Massive Fraud Case
May 13 -- Dozens of new defendants are expected to be named in a $100 million mortgage fraud case in North Carolina. The scheme involved jumbo loans.
read full story at MortgageDaily.com
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More Penalties for Convicted Originator
May 13 -- A former loan originator who has already been sentenced to a decade in prison for mortgage fraud crimes that cost lenders more than $650,000 has been hit with additional penalties from the the State of Minnesota.
read full story at MortgageDaily.com
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Mortgage Broker, Mfg Home Dealer Released on Bond
May 12 -- A mortgage broker and the former owner of a manufactured housing dealership who are accused of stealing more than $2 million in fraudulent manufactured home loans will be released on bail.
read full story at MortgageDaily.com
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A Decade of Rising Fraud
May 11 -- The number of reports of mortgage fraud filed by mortgage lenders was higher for the 10th year in a row and reached an all-time high.
read full story at MortgageDaily.com (subscription required)
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Defense Attorney a No-Show at Major Mortgage Fraud Trial
May 11 -- As a major mortgage fraud trial got underway this week, the ringleader's defense attorney -- who is also the brother of one of the defendants-- was nowhere to be found. So a federal judge issued an arrest warrant for him.
read full story at MortgageDaily.com
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Mortgage Fraud Diminishes in 2010
May 09 -- Mortgage fraud reports tumbled last year, and almost all of the fraud reported occurred prior to 2010. Appraisal fraud continues to be a problem.
read full story at MortgageDaily.com (subscription required)
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Mortgage Fraud Helped Sink NC Bank
May 09 -- A North Carolina mortgage broker was sentenced to nearly two decades of hard time after admitting his role in a case involving $15 million in fraudulent mortgages. Prosecutors claim that the crime helped bring down a bank in the state.
read full story at MortgageDaily.com
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Broker, Processor & Executive Guilty
May 09 -- Three defendants -- including a mortgage broker, loan processor and mortgage executive -- have pled guilty in a $2.9 million mortgage fraud case in Kentucky.
read full story at MortgageDaily.com
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Former BoA Employee Gets 2-Day Sentence
May 05 -- A former employee of Bank of America has been sentenced to just two days in jail for preparing fraudulent verifications of deposit in a mortgage fraud scheme. Lenders lost nearly $1.4 million in the case.
read full story at MortgageDaily.com
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| Date |
Defendants |
State |
Amount of Loans |
Overview |
Source |
| May 13 |
Walter Bressler |
NH |
$2,500,000 |
Guilty plea. |
Department of Justice |
| May 12 |
Robert Ibraham, Valdas Duoba |
NY |
$10,200,000 |
Arraigned. |
MortgageDaily.com |
| May 12 |
Quang Joseph Nguyen |
MA |
$1,800,000 |
Sentenced to 4 years and plus 3 years supervised release and $1.1 million in restitution. |
Law.com |
| May 12 |
John Chiavetta |
PA |
$274,000 in restitution |
Sentenced to 12 months and 1 day plus 3 years supervised release. |
Department of Justice |
| May 12 |
Craig Alleva |
NJ |
Approximately $525,000 |
Guilty plea. |
Department of Justice |
| May 12 |
Kenneth Garabedian, llen Seymour, Raymond A. Desautels III, Erik Tancun |
MA |
Multiple properties |
Guilty pleas. |
Department of Justice |
| May 12 |
John Fabey |
NJ |
$1,200,000 |
Guilty plea. |
Department of Justice |
| May 12 |
Joseph Woods, Aaron Simmons, Gary Wood, Denis Hickey, Jennifer Jackson, Anthony Willis (up to 70 total) |
NC |
$100,000,000 |
Sentences: Woods 24 months; Simmons 22 months; Wood 21 months; Hickey 15 months; Jackson 14 months probation; Willis 5 months probation. |
MortgageDaily.com |
| May 11 |
Domingos Dias, Hector Natera |
CT |
$3,000,000 |
Indicted. |
Department of Justice |
| May 11 |
Darcey Greenfield |
CA |
$3,265,000 |
Arrested. |
Department of Justice |
| May 11 |
Glenn Vaught, Michael Fortenberry |
SC |
$2,000,000 |
Arraigned. |
MortgageDaily.com |
| May 11 |
Darnell Disroe, Michael Lentine, Michael Starace |
FL |
$1,300,000 |
Sentenes: Disroe 10 years plus $1.1 million in restitution; Lentine 51 months; Starace 18 months. |
Palmbeachpost.com |
| May 11 |
Jay Whitham |
FL |
$5,300,000 |
Real Estate Appraisal Board calls for fraud charges. |
Heraldtribune.com |
| May 10 |
Chadwick Amsden, Adam Perkins, Joel Rosabal (10 total) |
OR |
$3,000,000 |
Guilty pleas. First Franklin Financial Corp., Decision One Mortgage, Hyperion Capital, Ace Mortgage, Millennium Funding victim lenders. |
MortgageDaily.com |
| May 09 |
Jason Thomas Williams, Benjamin Jackson, Joseph Bowen Brown (5 total) |
AZ |
$9,956,349 |
Guilty pleas from Williams and Jackson; Brown scheduled for trial. |
Department of Justice |
| May 09 |
Craig Keith Richards, Thomas Martin Brandenberg II, Paul Robert Lindemann |
SC |
$3,400,000 |
Indictments. |
Wcnc.com |
| May 07 |
Michael Pahutski, Michael Gee, Victoria Sprouse, Gregory Mascaro, Jules Springs, Gregory Rankin |
NC |
$15,000,000 |
Sentences: Pahutski 19 years plus $3.5 million in restitution; Gee 24 months plus $3.56 million in restitution; Mascaro 24 months; Springs 24 months; Rankin 5 years probation. |
MortgageDaily.com |
| May 07 |
John Howard, Kevin Mullins, Brenda C. Stone |
KY |
$2,900,000 |
Guilty pleas. |
MortgageDaily.com |
archived case entries back to 2005
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