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Mortgage Fraud News
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Case Activity
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June 17, 2009
First American Acquires Mortgage Fraud Firm
First American CoreLogic announced today the acquisition of BasePoint Analytics LLC -- a firm that specializes in mortgage fraud prevention.
read full story at MortgageDaily.com
Gov Report Gives Safe Harbor on Info Sharing
The Financial Crimes Enforcement Network said financial institutions will be shield from civil liability under the Patriort Act if they share information with each other about crimes such as mortgage fraud.
read full Dow Jones story
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June 16, 2009
Interthinx Appeals to Treasury Secretary
Interthinx outlined key mortgage fraud issues facing the industry in a letter to U.S. Treasury Secretary Timothy Geither and others on Capitol Hill.
read press release
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June 15, 2009
Delaware Forms Fraud Task Force
Delaware's attorney general's office forme a mortgage fraud task force.
read story at The News Journal
Texas AG Discusses Mortgage Fraud
Texas Attorney General Greg Abbott talked about the growing problem of mortgage fraud. He hosted a recent conference that enabled participants, including government agents, the private sector and other organizations -- shared information on attacking mortgage fraud.
read full story at KERA
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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
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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
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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
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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
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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
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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
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| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| June 19 |
Keith A. Rice, Robert L. Dodsworth, Frank Kartesz II, Gregory M. Finney, Francis R. Conti |
PA |
victims defrauded out of more than
$1,000,000 |
Former employees of Regal Financial Services, also known as Easy Mortgage sentenced to 13 months. |
Erie Times-News |
| June 19 |
Harold Stafford |
TN |
$2,000,000 |
8-year sentence. |
WSMV |
| June 19 |
Larry Nardelli, Neil Mohammad Husani, John Yanchek, Michael Tringali |
FL |
six counts |
Sentencing delayed until Aug. 10. |
Herald Tribune
Herald Tribune
|
| June 18 |
Gerald Williams, Judith Williams |
NE |
fines up to
$2,000,000 |
Defendants indicted. |
KETV |
| June 17 |
Mahn Huu Doan |
PA |
restitution of
$5,000,000 |
12-year sentence for mortgage broker on government loans. |
The Associated Press |
| June 17 |
Crystal Spreng |
PA |
n.a. |
Charged by U.S. Attorney's office. Worked for Citizens Bank. |
Tribune-Review
Pittsburgh Post-Gazette
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| June 17 |
Daniel Hoey |
PA |
n.a. |
Charged by U.S. Attorney's office. |
Tribune-Review
Pittsburgh Post-Gazette
|
| June 17 |
Robert J. McCully III |
PA |
n.a. |
Charged by U.S. Attorney's office. First Franklin Financial burned. |
Tribune-Review
Pittsburgh Post-Gazette
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| June 17 |
Robert Arakelian |
PA |
n.a. |
Operator of Pittsburgh Home Loans Inc. charged by U.S. Attorney's office. |
Tribune-Review
Pittsburgh Post-Gazette
|
| June 17 |
Isaiah Magalei, Shane Magalei |
CO |
100 homes involved |
Second of two brothers -- both high school football stars -- arrested. |
KUSA*TV
9 News
Denver Post
|
| June 17 |
Thomas Prusik-Parkin, Mhilton Rimolo |
NY |
$1,200,000 |
Son impersonated dead mother and charged on multiple counts including conspiracy charges linked to a deed and mortgage fraud scheme. |
Daily News |
| June 16 |
Pak Chang Lui, Pak Tim Lui, Pak Hor Lui, Pak Yang Lui |
OH |
n.a. |
Sellers created a sham second mortgage scheme that duped lenders into thinking home buyers had a down payment. |
WCPN |
| June 15 |
Jose G. Martin, Raphael Piedra, Jose D. Martinez, Samuel Morejon |
FL |
defendant earned
$1,000,000 |
65-month sentence. |
The Miami Herald |
| June 15 |
Keith A. Rice, Robert L. Dodsworth, Frank Kartesz II, Gregory M. Finney |
PA |
losses of
$1,000,000 |
Ailing defendant, who is former employee of Regal Financial Services, is asking for less prison time than co-defendants. |
Erue Times News |
| June 15 |
Hubbard Blackshear |
TX |
personal profit of
$200,000 |
20-year sentence in casei nvolving multiple defendants. |
Katy Times |
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