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


 

Mortgage Fraud News

Case Activity

June 11, 2009

Busines at Fraud Investigator Soars
Management Resources LTD of New York reported that the 300 fraud investigations it has conducted during the past 12 months is a 100 percent from 2007.

The Monroe, N.Y.-based civil and criminal investigative firm said it reviews data on income, assets and liabilities. It also reviews onsite property inspections
read full announcement


June 9, 2009

$37 Million Thrown at Fraud Problem
The secretaru of the U.S. Department of Housing and Urban Development told attendees at the National Fair Housing Alliance Conference that the fiscal 2010 budget requests $37 million for an agency-wide initiative to combat mortgage fraud and predatory lending.
read full speech at HUD.gov


June 8, 2009

Texas AG Holds Fraud Conference
The Texas Attorney General's office is holding a Mortgage Fraud Summit on June 15 at the University of Texas.
read full story at Austin Business Journal

Modesto Mortgage Fraud Team Assembled
The FBI, IRS and Secret Service have joined with local law enforcement officials in Modesto, Calif., to fight fraud in the San Joaquin Valley. In Stanislaus County, 40 mortgage fraud cases are open at any given time.
read story at Modesto Bee


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 12 pending OH n.a. All State Home Mortgage and Community Reinvestment reopened one day after raid by FBI Mortgage Fraud Task Force. News-Herald
June 12 Calvin Davis, Michelle Cochrane, Michael O'Keefe Jr., Timothy Falls, Dennis Addison, Dennis LeBlanc LA restitutions of more than
$1,000,000
Ringleader sentenced to 40 months for scheme involving HUD. Citywide Mortgage owner plead guilty. The Times-Picayune
June 12 Hubbard Blackshear TX netted profits of
$200,000
Guilty plea. My Fox Houston
June 12 Edward Scott Hanson MD loss of
$300,000
6-count indictment. 9NEWS NOW
June 12 Eric M. Rabicoff, Lucas R. Collier, Jason L. Rabicoff, Anthony E. Carollo, Deborah Saulmon, Bora Ly, Anthony 'Gabe' Painton Jr., Kong Bun Ly, Rebecca Gelwix, Richard Ngek KS $3,000,000 Defendant accussed of leading for-sale-by-owner scheme from prison. Associated Press

Leavenworth Times

infoZine

The Mirror

June 12 Michelle Marie Niska, Robert Gordon Bock Jr. MN $594,000 Couple plead guilty. Star Tribune

Pioneer Press

June 12 Eddie Zaben, Dagoberto Reyes, Evelyn Santana, Mohamed Beydoun, Memoud Makky, Ali Hassan Haidous, Balil Hashem MI asset seizure of
$1,600,000
Defendants charged by state attorney general in scheme that utilized MYA's Investment Group LLC. 8 properties involved. The Detroit News

Detroit Free Press

Click On Detroit

June 11 Valerie Hanserd, Primary Mortgage, Leo Desire MA restitution of
$80,000
Massachusetts attorney general, announced a consent judgement. MortgageDaily.com
June 11 Denis Joseph Hickey NC losses of up to
$2,500,000
Owner of CMI Construction Co. joined three attorneys who pled guilty. The Charlotte Observer
June 11 Beverly A. King, William H. King FL n.a. Woman charged, ex-husband and seven others arrested in case where fraudulent transactions brokered through Cue Funding Inc., Cueking Family Corp. and Investors Property Corp. The Times-Union
June 11 Richard Lucas, Kimberly Castle, Kenneth Stalnaker MS restitution of
$3,538,767
Mortgage flipping scheme convictions upheld by 5th U.S. Circuit Court of Appeals. Laurel Leader-Call

Hattiesburg American

Associated Press

June 11 pending NY pending Title company owned by the former owner of failed First Guarantee Mortgage has not reopened since FBI raid. Owner was previously convicted for $5.6 million in secondary fraud at Bear Stearns & Co. Daily Gazette
June 11 Lucas R. Collier, Eric M. Rabicoff, Jason L. Rabicoff, Anthony E. Carollo, Deborah Saulmon Bora Ly, Anthony 'Gabe' Painton Jr., Kong Bun Ly, Rebecca Gelwix, Richard Ngek MO $3,000,000 Ring submitted false verifications of employment. The Mirror

Basehor Sentinel

Kansas City Business Journal

Jun 11 pending OH n.a. FBI officials raided Allstate Home Mortgage and Community Reinvestment. NewsNet5

WOIO

WKYC

June 10 Arthur Marshall GA n.a. Former NFL player charged with fraud. WJBF News Channel 6
June 10 Brendan Tyler, Olivia Cassity UT n.a. Case delayed one month to give defense time to review 10,000 pages of documents. KSL Television & Radio
June 10 First Guaranty Mortgage FL n.a. FBI raided offices, but no mortgage fraud charges yet announced. Times Union
June 9 Pasquale A. Scavitti III RI $2,500,000 Attorney plead guilty to stealing from clients in real estate transactions. The Providence Journal
June 9 Ryan Keith Miller, Wildor Washington, Jr., David Kostelec, Amanda Childs, Gregory Stevenson, Alexandra Davidson, David Kostelec, Joseph Balano, Craig Lon MO n.a. Guilty plea by operators of Approved Mortgage, The Mortgage Connection, Atlantic Mortgage, TERM Appraisers, Apex Appraisals, Midwest Appraisals, Miller Appraisals, Pinpoint Appraisals, Summit Appraisals, Alexandra Enterprises, and Ryan Miller Appraisals, LLC.. GateHouse News Service

Infozine

June 9 William H. King, Beverly Ann King, FL $2,400,000 Nine arrests in six Florida counties. Ocala.com
June 9 Jerry C. Huff UT $250,000 Conviction. The Salt Lake Tribune
June 8 Tyrone Cody, Ed Kraus, Dea Character OH $3,000,000 Guilty plea with sentencing scheduled for July 14. The Plain Dealer
June 8 Carol Smith, Sharon Cox, Marilyn Brookins, Elaine Gaither CO $575,000 Mother and daughter indicted. The Plain Dealer
June 8 Ernie Colter CO $200,000 Owner of PMCS Mortgage Services Co. indicted. Denver Post
June 8 Dea Character, Gregory Lewis, Valerie Shields, Bertha Clark OH 3,000,000 Attorney joins other defendants in guilty pleas. The Plain Dealer
June 8 Fred DeGuzma, Veronica DeGuzmann TX $1,000,000 75-month prison sentence and $1.67 million in restitution ordered. Dallas Morning News


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