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Last Updated Friday, May 29, 2009 10:00 PM Texas Time



Mortgage Fraud News

Case Activity

June 5, 2009

Broker Busted in Murder-for-Hire
While cooperating with federal prosecutors after pleading guilty to a multimillion-dollar mortgage fraud scheme, Mahn Huu "Bruce" Doan, a South Philadelphia mortgage broker, allegedly tried to hire an undercover witness to murder attorney Anthony Quinn, kill a plaintiff in a lawsuit against him and maim another witness.
read full story at Philadelphia Inquirer


Francisco Mortgage Fraud Unit Shrinking
Delaware's attorney general announced the formation of a new Mortgage Fraud Task Force.
read story at the Denver Post


June 3, 2009

San Francisco Mortgage Fraud Unit Shrinking
The number of investigators in San Francisco's police department has dropped to eight from 19 in 1990.
read article at San Francisco Chronicle


June 1, 2009

Task Force to Combat Fraud in Nation's Fruit Basket
A task force established to combat growing mortgage fraud in California's San Joaquin Valley includes the U.S. Department of Housing and Urban Development as well as the FBI, IRS and Secret Service.
read story at Fresno Bee

Date Defendants State Amount Overview News
Publication
June 5 John Pavao FL $6,000,000 Defendant jailed for being back in business while out on bond. WFTV
June 5 Carl Heflin FL na Former police officer submitted 20 fraudulent warranty deed forms then rented out properties. WPTV
June 5 Corey Brower, Sandi Browe, William Jonesr FL $68,500,000 Former president of GreatStone Mortgage and his wife plead guilty to defrauding HUD and several financial institutions. The Tampa Tribune
June 5 Aleksander Lipkin, GARRI ZHIGUN, GALINA ZHIGUN, JOSEPH PAPERNY, FAINA PETROVSKAYA, JOHN GELIN, TOMER SINAI, DANIEL MIKHLIN NY $200,000,000 Fomer mortgage broker sentenced to 110 months in case where 26 people have pleaded guilty. AGA Captial operated as mortgage broker on over 1,000 loans. Wall Street Journal

RealEstateRama
June 5 Thomas Kontogiannis, Elias Apergis, John Michael, six other defendants NY $92,000,000 Real estate developer and eight defendents, including his relatives, plead not guilty to defrauding Washington Mutual Bank and DLJ Mortgage Capital Inc. One of defendants ran Coastal Capital. Reuters

NBC
June 5 Wonda Kidd, Karim Akil, Amy Schloemann, Michelle McGuir, Gregory Lamont Orr CA na Former escrow officer convicted for inflating home purchase prices and using straw buyers and faces July 17 sentencing. New Century Mortgage was among victimized lenders. SFGate.com

San Francisco Chronicle

Times Herald
June 5 Carol Smith, Sharon Cox, Marilyn Brookins, Elaine Gaither OH $575,000 Mother, daughter and two other defendants indicted for transaction on single loan. Solon Herald Sun
June 5 Humberto A. Reyes-Rodriguez, Alexis Ikilikyan, William Poff, Micki Thompson, Mario Marroquin WA $18,000,000 Defendants charged and arrested in scheme where banks were not told about private loans on 80 trnsactions. Seattle Post Intelligencer

Seattle Times

The News Tribune

United Press International
June 5 Jose G. Martin FL $6,600,000 Sentenced to 65 months in prison. South Florida Business Journal

Miami Herald
June 3 Humberto A. Reyes-Rodriguez, Alexis Ikilikyan, William S. Poff, Micki S. Thompson, Mario A. Marroquin WA $18,000,000 Indicted defendants included real estate agents and an escrow agent. Seattle Times
June 3 Hidayatullah Ali Khalil CA na Police officer arrested in mortgage fraud case. Elk Grove Citizen
June 3 Maria Sanchez, Beatriz Sanchez CA $1,000,000 Real estate agent for Locke Realty & Lending and for Online Financial Services was found guilty. Whittier Daily News
June 3 Russell Todd McBride, Robert P. Wrolstad MO na Both defendants pled guilty and face sentencing in mid-August. One defendant owned Century Mortgage and Finance Inc. Associated Press
June 3 Rex McCasland TN na Appraiser scheduled to be sentenced on Aug. 20. Lead conspirator owned Challenge Mortgage, Wolfcrest Property Management, First Performance, Southern California REO and Four Star Management. Memphis Commercial Appeal
June 3 Jonathan L. Boyd OH na The U.S. attorney's office decided against re-trying defendant whose conviction had been thrown out. Columbus Dispatch
June 3 Hugh Zuber NY $1,205,000 City lawyer with gambling problem arrested on fraud charges related to two buildings.

Associated Press

Imperial Valley News
June 3 Russell Todd McBride, Robert Wrolstad MO na Owner of Century Mortgage and Finance Inc. and co-defendant plead guilty. St. Louis Business Journal
June 2 Kathy Chen, Richard Salgado Gonzalez, Daniel Gonzalez CA $17,500,000 Real estate broker, her boyfriend and his brothers charged in scheme involving 35 properties. Brothers on the run -- possibly in Puerto Vallarta, Mexico. Broker owned Chen Financial, KC Realty, and SBC Financial. The Orange County Register
June 2 Jonathan L. Boyd OH $2,600,000 Verdicts vacated against convicted defendant because of technicality. New trial possible. 20 banks and 200 people defrauded. The Columbus Dispatch
June 2 Catherine A. Hickling GA $1,000,000 Guilty plea Associated Press
Randy Allen, Gary Allen, R.A North Development, Southeastern Waterfront Marketing NC Civil lawsuit filed on behalf of 40 clients includes Bank of America and Wachovia Corp. as defendants. Inflated appraisals alleged. Trading Markets
June 1 na VA na 130 borrowers file lawsuit in what could be one of the largest mortgage fraud cases in Virginia history. Inflated appraisals alleged. Trading Markets
June 1 Abe Karn, IL na International fugitive and owner of Interforest Mortgage Co, surrenders. FBI
June 1 Michael Didio, Jennifer Moschitta, Micah Meyers, NY na Bridgewater Funding searched after 13 arrests in subprime mortgage fraud scheme. Newsday
June 1 Donald L. Jones, Joseph B. Jackson Sr., Daniel J. Sattizahn, Robert Patterson Jr., Foday S. Fofanah, William Barnes, Donald Mathew Jones, Catherine L. Dike TX $14,000,000 Six defendants were sentenced while cases were dismissed against two. Dallas Morning News
June 1 Christine Calbert Gates, Demetrius Rainer, Troy Anthony Smith NC na Gates, an attorney, plead guilty in high-priced home scheme. The Charlotte Observer
June 1 na NY na 13 defendants, many who worked for Bridgewater Funding, were arrested over a subprime fraud scheme. WCBSTV.com
June 1 Olusola Idowu MD $600,000 Nutrition company owner lied about income on mortgage application. WTOP.com


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