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Last Updated Friday, July 18, 2008 10:00 PM Texas Time
 

July 18, 2008


Real Estate Agent, Broker faces up to 95 Years in Prison
Arvin Weiss has been found guilty on 16 counts of fraud and witness tampering in Colorado. If convicted, he faces up to 10 years in federal prison and a $250,000 fine on each witness tampering count, and up to five years in prison and $25,000 per each fraud count.




Broker Indicted on 7 Counts
Kelli R. Wilson, 25, owner of Plainfield, Ill.-based Investor’s Choice Mortgage Corp, has been accused of coercing a couple to falsify loan documents to obtain approval. The loan was approved and funded by the now bankrupt American Brokers Conduit. Wilson is out on bond; arraignment is set for August 4.
Read story at Suburban Chicago News





July 17, 2008


ID Theft, Mortgage Fraud = Four Years Prison
Kimberly M. Davis, 43, was sentenced to four years for stealing identities to purchase homes in Lee’s Summit. Davis has also been ordered to pay $191,000 in restitution.




Crackdown on L.A. Mortgage Fraud
FBI officials are assembling a SCAM (Southern California Mortgage) task force to help combat the increasing mortgage fraud activity.
Read story at Thousand Oaks Acorn





Broker Charged in $1 Million Scam
Richard J. Thomas defrauded homeowners and lenders out of about $1 million while working for Penntowne Mortgage Group in North Huntingdon, Penn.
Read story at Pittsburgh Live





Haitian Militant May Be Deported
Former Haitian leader and accused murderer Emmanuel “Toto” Constant is on trial for a $1.7 million mortgage fraud scheme. If convicted, he faces up to 15 years in prison, however the Department of Homeland Security suggests he be deported.
Read story at Miami Herald





Couple Get Swindled Twice, Same Property
Sabrina Jones, an alleged loan officer took advantage of a Texas couple that was hoodwinked into paying their builder in a “lease to buy” program. The Davis’s paid thousands to the builder only to find that he fled the area with their money and never paid on the home’s mortgage at the bank. Jones then took thousands of dollars from the couple saying she was helping them save their home from foreclosure, only to walk away with that money too.
Read story at NBC Channel 5





Pair Face Multiple Charges
Jonas Allen, 38, and Kenneth Miller, 38, both of Ohio are scheduled to be arraigned tomorrow for their involvement in a $1.7 million mortgage fraud scheme on 11 homes in Cuyahoga and Summit counties. A total of 10 people were indicted on 64 counts, including Allen’s sister, Sonya Allen, 39 and Ronald Hodges, 37, who has pleaded not guilty.
Read story at Twinsburg Sun





Two Women Sentenced 10 Years Plus
Jamila Davis, 31, and Brenda Rickard, 54, were found guilty of a $29 million mortgage fraud scheme involving multiple properties in New Jersey. They were sentenced to 12 ½ years in prison and 10 years, respectively. The pair was also ordered to pay $12.4 million in restitution to Lehman Brothers Bank, FSB and Commerce Bank.
Read story at The Record





July 16, 2008


New Red Flag Solution for Credit Reporting
New solution includes fraud analysis, identity verification and credit reporting services to provide lenders a comprehensive solution for fraud prevention.




July 15, 2008


5 More Guilty Pleas in Vegas
Daicy Vargas, Craig Cristians, and Robert Samora of Las Vegas and Benjamin Labee and wife Shauna Labee of Salt Lake City, all whom are mortgage originators, have pleaded guilty to their involvement in the $100 million mortgage fraud that included mortgage broker Eve Mazzarella and her husband Steve Grimm. More than 400 transactions on more than 200 properties resulted in a $17 million loss for lenders.
Read story at Las Vegas Now





July 14, 2008


Mortgage Fraud Surges in Second Quarter
Second quarter mortgage fraud activity doubled from a year earlier, according to the FraudBlogger Index published by MortgageDaily.com. From April 1, 2008, to June 30, 2008, $1.7 billion in active cases of criminal and civil mortgage fraud were tracked by FraudBlogger.com. Activity soared from $1.0 billion in the first quarter and $0.8 billion during the second quarter 2007.





ID Theft Prevention Kit for Lenders
New tool kit offers a software solution with streamlined Red Flag rules policy, forms and checklists for assessment and employee training via instructional videos and Internet.





Former Haitian Paramilitary Says He Was Framed in Fraud Scheme
Emmanuel “Toto” Constant, 51, claims those involved in a $1.7 million mortgage fraud straw-buying scheme in New York framed him. If convicted, Constant faces five to 15 years in prison.
Read story at The Star Tribune






Stolen Money Potentially Used in Fraud
A gang that invaded 70 homes in the North Texas area may have used stolen money to fraudulently obtain home mortgages.
Read story at WFAA Channel 8





Six Deny Charges of Mortgage Fraud
Utah residents Bradley Grant Kitchen, David R. Bolick, Steve Wells Cloward, Ron K. Clarke, Jeffrey David Garrett and Rebecca Ann Hadlock pleaded not guilty to an $18 million fraud scheme. Defrauded lenders included Countrywide Home Mortgage and American Broker’s Conduit in California and New York.
Read story at Deseret News





New Mortgage Fraud Hotline
A University of Washington radio station is offering to help those who believe they may have fallen victim to mortgage fraud.
Read story at KUOW Radio





Four Mortgage Fraud Cases, 10 Indictments
Tekora Madden is charged with $733,000 in fraudulent loans on eight houses. An accomplice Leevern Coleman has also been charged. In another fraud transaction, Jonas Allen and sister Sonya Allen are accused of providing false information to obtain a $232,000 loan and then another loan of $313,000 on the same property.

Mortgage loan officer, Brian Mathoslah falsified documents for borrower’s Carlton Hill and Audrey Leonard to purchase a $488,000 home, and Debra Lind is accused of doctoring an appraisal for the scheme. While Kenneth Miller and Ronald Hodges conspired to illegally obtain proceeds from the say of a home in Cleveland Heights.
Read story at Cleveland Metro News





$27 Million Scheme Busted in Bellevue
Washington residents Christopher G. Brooks and Amani R. Moss, who owned Peachtree Development Company, are accused of participating in 54 fraudulent loan transactions. Lenders involved include: First Guaranty Financial Corp., Countrywide Home Loans Inc., Fieldstone Mortgage Co., WMC Mortgage Corp., and Fremont Investment and Loan.
Read story at BizJournals





July 11, 2008


Nine Indicted Using 80/20 Loan Scheme
Joy Johnson, 33, Cory Whalen, 33, Elizabeth Carrion, 38, Lenin Galeano, 32, Carmen Galeano, 30, Angelito Evangelista, 39, Clarisa Ang, age 43, Cris Ang, 46, and Lydia Ang, 71, have been indicted in connection with a mortgage fraud scheme involving the purchase of 13 real estate properties in Solano County in 2006.





Fraud Suspect on the Loose
White City, Oregon police are on the lookout for a man who claims to help mortgage applicants save money on their loan but then disappears with the paperwork and a $300 fee. The suspect, Bart Arthur Blahosky is described as a 50-year-old white male, 5 feet 11 inches tall and weighing 170 pounds.
Read story at Mail Tribune





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