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Last Updated Monday, July 20, 2009 07:35 PM CST

 

Mortgage Fraud News

Case Activity

July 17, 2009


FERA Now Law
The Fraud Enforcement and Recovery Act of 2009 was signed by President Barack Obama on May 20. The new law provides government agencies with increased funding and more stringent legislation.
read story at Law.com

NV Fraud Soaring
Nevada ranked as one of the top 20 states for mortgage fraud, while Las Vegas FBI investigations have doubled.
read story at Las Vegas Sun
July 14, 2009


MO AG Testifies in DC
Missouri Attorney General Chris Koster was scheduled to testify before a U.S. Senate committee about mortgage fraud.
read story at KSPR News

30,000 Fraud Fighters
More than 30,000 people from nearly 4,500 have been trained to fight mortgage fraud by Interthinx since the California-based company launched in 2005.
read full press release
July 13, 2009


Miami Flooded
The FBI's Miami field office received 5,155 suspicious activity reports during 2008 -- the second worst of any state.
read story at The Palm Beach Post
July 10, 2009


Freddie's Tips
Freddie Mac advised lenders it buys loans from to be vigilant in their efforts to detect fraud through their origination practices. The secondary lender laid out a number of steps seller-servicers should follow.
read bulletin at FreddieMac.com

FBI Tips
Among several fraud prevention tips recently offered by the FBI was the old saying, "If it sounds too good to be true -- it probably is."
read full FBI announcement
July 7, 2009


Mortgage Fraud Headed Higher
During fiscal 2008 -- which ended on Sept. 30 -- 63,713 mortgage fraud Suspicious Activity Reports were referred to law enforcement, the Federal Bureau of Investigation said today in its 2008 Mortgage Fraud Report.
read full article at MortgageDaily.com
July 3, 2009


NY Fraud Task Force Formed
The district attorney of Westchester County, N.Y., has formed a task force to to actively investigate mortgage fraud and is seeking $1.1 million from the U.S. Department of Justice.
read full story at Westchester.com
June 29, 2009


PA Passe Fraud Legislation
Two new laws passed in Pennsylvania are designed to prevent a repeat of the kind of fraud committed by Wesley Snyder -- who tricked borrowers into sending payments to him under the false premise that he would pay down their loans early.
read story from Harrisburg Times

read story from Associated Press


Reporting Mortgage Fraud
Residents in the Indianapolis are should report suspected mortgage fraud to either the FBI's local field office, the state attorney general's consumer protection division or the local HUD office.
read full story at the The Star
June 24, 2009


Convicted Fraudster Busted for Bigamy
Victor Clavizzao, who had already been convicted of mortgage fraud in a $5 million scheme, married for the fifth time even though he hadn't divorced his first or fourth wives.
read story at the Sun Sentinel
June 23, 2009


Florida Fraud Fight
Police in Miami-Dade County made fighting mortgage fraud a top priority as early as 2006.
read story at Huffington Post
June 22, 2009


Fraud Avoidance Tips
Among tips outlined for avoiding mortgage fraud were to be careful what you sign, be wary of direct solicitation and get professional advice.
read story at Examiner.com
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

Date Defendants State Amount Overview News
Publication
July 17 Angelo Mancini III MN $163,000 Loan officer pleads guilty. Pioneer Press
July 17 Robert Arakelian, Pittsburgh Home Loans PA $1,000,000 Guilty plea. Sentencing scheduled for Nov. 13. The Tribune-Review
July 17 Linda Carnagie, CO unknown but restitution of:
$206,693
41-month sentence. Denver Business Journal

Denver Post

July 16 John L. Chaffo, PA n.a. Real estate attorney charged. Murrysville Star
July 15 Quentin Henley MO $3,600,000 Indictment. Kansas City Business Journal

Infozine

July 15 Diane H. Frederick Atari VA losses estimated at:
$50,000,000
Indictement. involving more than 100 borrowers. Defendant suspected of fleeing to Jordan. WRIC Richmond News

Leesburg Today

Washington Post

July 15 Gregory S. Chew, Peggy Pierson, Richard Confer Jr., OH $17,000,000 Indictment. WHIO Dayton
July 15 John Barry TX unknown but "hundreds of thousands" 25-year sentence. The Dallas Morning News

McKinney Courier-Gazette

July 15 Bernardo Katz, John L. Chaffo Jr., Michael Dokmanovich, Daniel Smithbower, John Orth, Nicholas DeRosa, Antony J. Staph Jr., Robert Ratkovich, Colleen Chiavetta, John Chiavetta, David McCloskey, Karen Atkison, Daniel W. O'Connor, Lawrence J. Kraynak, PA $700,000 Indictment for fugitive. TRIBUNE-REVIEW

Pittsburgh Post-Gazette

July 14 Benjamin F. Tubbs OH $9,000,000 Defendant surrendured to authorities. nbc4i
July 14 Rodney McGill, Shalonda McGill FL $1,000,000 Case begins. TC Palm
July 14 Reginald Davis, Micaiah Pruitt TX $895,000 Guilty plea Dallas Business Journal
July 14 Michael Lee Wilson CA n.a. Deeds-of-trust forged in Ponzi scheme. Arrest. MortgageDaily.com
July 13 Kurt Fordham, Joy Jackson, Jennifer McCall, Katisha Fordham, Richard Allison, Clifford McCall, Carlisha Dixon, Chandra Jones, Ronald Aaron Chapman, Wilbur Ballesteros, Fordham & Fordham Investment Group Ltd. DC $35,000,000 10-year sentence in case tied to Metropolitan Money Store. Associated Press

Washington Examiner

Imperial Valley News

July 10 William 'Bill' Anastapolous, Tucson Mortgage LLC, Darren Breen, Dave Klein, Amaury Leon, Thomas Piazza, Andrew Silverstein, Vince Volpe, Anthony Zandonatti, AZI Rent2Own, RTOSearch.com, AZIRent2Own LLC dba Arizona Investments, VinLan Ventures LLC dba RE/MAX All Executives, WGA Enterprises LLC dba RE/MAX All Executives AZ unknown but investors bilked out of as much as
$10,000,000
Civil complaint accuses defendants of hiding borrower liabilities. Arizona Daily Star

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