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Fraud
News Wire
| Last Updated |
Friday, June 15, 2007, |
4:49 PM |
Texas Time |
|
|
June 15, 2007
Unmatched
Fraud Risk Management
Interthinx expands lender access to FraudNET
Technology.
Fraudster
Tied to CIA
Emmanuel Constant, a Haitian also known as “Toto”
Constant and who admitted to charges of mortgage
fraud that affected numerous lenders, was at
one point associated with the CIA.
read story from Blogger News Network
Fraud Wave
Hits Home Values
San Diego neighborhoods have been hit by foreclosures
resulting from mortgage fraud that includes
multiple properties being sold to one buyer
at one time.
read story from Fox 6 News
Child SSNs
Used in Mortgages
A mortgage fraud investigation that showed several
children's identities were misused prompted
Utah officials to the idea that many more children
have had their social security numbers stolen
for access to credit.
read story from Deseret News
Bank Entangled
in Developer Scam
Capital Bank is among four banks that have reported
concerns related to a North Carolina real estate
scheme that allegedly bilked consumers of $100
million and defrauded the banks as well.
read story from The News & Observer
June 14, 2007
Title
Co. Gets ID Theft Prevention
ID Analytics ID Network to combat identity fraud.
1 Sibling
Free for Retrial
While Richard N. Amico will remain free on a
bond secured by relatives' property and pending
retrial for allegedly defrauding mortgage lenders
in collusion with his brother Robert J. Amico,
the latter of the siblings has not been able
to secure property for his release.
read story from Rochester Democrat and Chronicle
Ex-NFL Player
Faces 30
Sean Jones, a former professional football player,
two former loan officers of Southwest Bank of
Texas, Bank of Houston and Whitney National
Banks, and an attorney and appraiser each face
a maximum sentence of 30 years for allegedly
acquiring mortgages for overvalued properties
and diverting excess proceeds for personal use.
read story from Sports Illustrated
June 12, 2007
MA
Seeks Tougher Mortgage Fraud Laws
Bill criminalizes mortgage fraud, protects consumers.
Co.s
Unprepared to Fight ID Fraud
A mortgage credit info and ID theft management
service provider offers expert advice for businesses.
AZ Mortgage
Fraud Law Near
A bill that would make mortgage fraud a felony
punishable by up to three years in prison for
a first offense is on its way to the desk of
Arizona's governor.
read story from KOLD News 13
Straw Buyers
Fuel Foreclosures
Straw buyers are amongst the players contributing
to the rise in foreclosure either through willingly
giving false information for a loan or being
persuaded by unscrupulous originators to get
into the real estate rental business without
fully understanding it.
read story from Star Tribune
June 11, 2007
Half
Doubt Lenders are Ethical
Consumers almost evenly divided on lenders'
ethics.
Judge
Stops Investment Scam
Developers convinced dozens of consumers to invest in overvalued lots in Mitchell County
Mortgagees
Seek Fraud Warning System
MBA unit requests information to create national
database.
Pair Admits
to Defrauding Lenders
Matthew J. Kupic and Francis Thomas Disonell
admitted they orchestrated a scheme in which
they used their companies, Team Title Abstractors
and Real Estate Consultants, to defraud lenders
by methods such as depositing money into straw
buyer accounts to get loans approved.
read story from Builder Online |
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Patrick
Crowley is fraud journalist for MortgageDaily.com
and a reporter and columnist
for The Cincinnati Enquirer.
Email Patrick at: PatCrowl
ey@FraudBlogger.com |
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Paula Parisot
e-mail Paula
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