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Archives June 4, 2006


Fraud Stories From
Patrick Crowley
Fraud Wire

Contract Underwriter Pleads Guilty

A contract mortgage loan underwriter faked her own death to avoid charges of mortgage fraud.

But federal prosecutors in Virginia eventually caught on to Kym Salisha Saloman's scheme and she now faces up to 22 years in prison and $250,000 in fines after pleading guilty to wire fraud and identity theft charges, according to a statement from U.S. Attorney Chuck Rosenberg of Richmond, Va.

Saloman, 43, was a contract underwriter for GE Mortgage Contract Services. In early 2005 she began working as a loan underwriter for Ivanhoe Financial, a mortgage lender.

In March of 2005 Saloman launched her fraud scheme, the prosecutor said.

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

Husband, Wife Admit Scam

Hard charging New York attorney general Eliot Spitzer, who has his sights set on the governor's mansion and possibly the White House, is continuing his aggressive crackdown on mortgage fraud.

Spitzer has announced that a husband and wife from western New York have admitted to running an advance fee loan scheme that defrauded customers of over $170,000.

Just last month Spitzer, a Democrat running for governor who has been mentioned as a possible future presidential candidate, announced indictments against eight members of what he described as a wide ranging mortgage fraud ring alleged to have stolen millions.

"My office will take aggressive action against those individuals who steal customers' hard-earned money using false promises and deceit," Spitzer said in a statement.

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

May 31, 2006

I.D. Theft Protection
Donnashi Enterprises Inc.reverifies income and assets while maintaining protections against identity theft.

Large KC Developer Indicted
F. Jeffrey Miller, once known as the largest home builder and developer in the greater Kansas City area, was charged with organizing a $25 million fraud scheme.

Housing Authority Fraud
Toni M. Hart has been charged with stealing funds from the Lawrence County Housing Authority.

2 Years in Prison for Tax Form Fraud
Holly R. Coleman was sentenced to 24 months imprisonment for forging tax returns on loans made by National City Home Loan.

Phony Preacher Ran Fraud Scam from Prison
Dr. W. Sherrod Milton, aka Wayne Milton, sneaked out of a minimum security at least 50 times during a 17-month sentence to conspire on a new wave of mortgage fraud that ultimately approached $20 million.
read story from Cox News Service .

Colorado Gov Signs Mortgage Fraud Law
The governor of Colorado signed Senate Bill 71, which requires transactions between homeowners and foreclosure consultants or equity purchasers be in writing.
read story from the Denver Post .

2.5 Years for $250k
Maria De Lourdes Navarro will spend 2 1/2 years in prison for defrauding GreenPoint Bank out of $250k.
read story from The Californian .

$20 Million Scam
Paul J. Meka and Robert K. Rehm, who are accused of bilking investors out of $20 million in a land-trust scam through their company American National Mortgage Partners, have reached a deal with the Arizona Corporation Commission.
read story from The Arizona Republic .

Criminals Becoming Florida Brokers
A review of around 2,544 mortgage brokers licensed in Palm Beach County between Nov. 5, 2003 and March 30, 2006 showed that nearly 5 percent had arrest records ranging from check fraud to shoplifting to DUI manslaughter.
read story from the Palm Beach Post .

Lawyer Charged With Stealing Closing Funds
Attorney Kim A. Clay and secretary Mildred J. Dunn have been charged with withholding funds from Regions Mortgage, Republic Bank and Trust, Accredited Home Lenders and Countrywide Home Loans.
read story from the Lexington Herald-Leader .

11th Indictement In $7 Million Scheme
Francis Williams Bongay, the 11th person to be charged in a $7 million fraud scheme, was arrested Friday.
read story from The Athens Banner-Herald .

10 Charged With Mortgage Fraud
Ten people have been charged with participating in a Mississippi multimillion dollar mortgage fraud scheme.
read story from WREG-TV News 3 .

May 25, 2006

Husband, Wife Arrested
Douglas A. Benit, who along with his wife Mary Ann was arrested for defrauding public schools, is also charged with defrauding First One Lending and New Century Mortgage on an $893,750 mortgage.

Escaped Fraud Convict Assaults Arresters
A Georgia man has been sentenced for committing mortgage fraud after escaping from the prison where he was serving a mortgage fraud sentence.
read story from MortgageDaily.com
(subscription required)

Backend Mortgage Fraud
Panelists at a recent real estate finance fraud conference talked about a new kind of mortgage fraud.
read story from MortgageDaily.com
(subscription required)

Foreclosure Help?
AZP Homeowners Services of Frederick is accused of deceiving a borrower out of her home title.
read story from WBAL TV 11 .

4 Plead Not Guilty
Alaa "Alex" Ramadan, James Gibbons, Rebecca Teece and Teri Hansen all pleaded innocent to charges of mortgage fraud in a case possibly connected to al-Qaida terrorists.
read story from the Deseret Morning News .

Widows Saved from Foreclosure
A restraining order has been obtained against Bay Capital Corp.; Robert Pukall; Stewart D. Sachs; Heavy Weight Title Inc.; and two limited-liability corporations, 8966 Chapel LLC and 3562 Lowlen, LLC, to stop foreclosure against two widows deceived into signing over their titles.
read story from the Baltimore Sun .

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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