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Mortgage Fraud Archives

Week Ending August 16, 2012

Mortgage Fraud News

Case Activity

4 Indicted in $158 mil Mfg Housing Mortgage Fraud Scheme
Aug 15 -- CHARLOTTE, N.C. -- A Burlington man faces federal charges of mortgage fraud and impeding a federal investigation and is now considered a fugitive, the U.S. Department of Justice says.

Lending Executive Sentenced for Mortgage Fraud
Aug 15 -- The former manager of an Allentown, Pa., mortgage company was sentenced Wednesday to four years in prison for his role in a long-running mortgage fraud scheme.
read story at Mortgage Daily

CT Mortgage Fraud Involved Family Members
Aug 14 -- NEW HAVEN, Conn. -- A 62-year-old Southington man pleaded guilty to wire fraud and money laundering charges in federal court on Tuesday, according to a press release from the U.S. Attorney's office.
read story at Mortgage Daily

Guilty Plea in $158 Million Mortgage Fraud Case
Aug 14 -- A longtime Charlotte, N.C., loan officer pleaded guilty Tuesday to taking part in a mortgage-fraud ring that rigged more than $158 million in home loans across the Carolinas, resulting in millions of losses to federal loan programs.
read story at Mortgage Daily

Prison for Former Chamber of Commerce Official in Hawaii
Aug 14 -- Former Filipino Chamber of Commerce President Stephen Elmer Callo will spend 15 consecutive weekends at the Federal Detention Center in Honolulu for lying about his income on a loan application to get a $554,501 mortgage on a Makakilo home.
read story at Mortgage Daily

Date Defendants State Amount of Loans Overview Source
Aug 15 Hoda Samuel CA $5,500,000 in losses Sentenced to 10 years. Department of Justice
Aug 14 Joel Tillett PA $979,562 in restitution Sentenced to 4 years. Washington Mutual Inc., Countrywide Home Loans, Mortgage IT, International Mortgage Corporation, and Security Atlantic Mortgage Company victim lenders. Department of Justice
Aug 13 Joseph "Joey" Klakulak, Isaac "Ike" Vinson, Marina McCuen, Roger Dean Bailey NC Multiple properties Klakulak pleaded guilty.
Aug 13 Dennis Wayne Parris, Fabian Sparrow, Andrew B. McKeown, Isaac "Ike" A. Vinson, IV NC $158,000,000 Indicted. Department of Justice
Aug 13 Henry J. Papale CT At least $500,000 Pleaded guilty. Department of Justice
Aug 12 Stephen Elmer Callo HI $554,501 Sentenced to 30 days (15 consecutive weekends).
Aug 12 Ruben Oscar Palagonia CA Undisclosed Arraigned.

archived case entries back to 2005

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