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Mortgage Fraud Archives

Week Ending August 17, 2012

Mortgage Fraud News

Case Activity

When to File a SAR
August 16 -- A government publication provides some guidance about when to file a Suspicious Activity Report.
read story at Mortgage Daily
(subscription required)

2 MN Loan Officers Plead Guilty
August 15 -- Two men from Chisago City, Minn., pleaded guilty Tuesday, Aug. 14, to their roles in a $1.8 million mortgage fraud scheme that ran from 2006 to 2007.
read story at Mortgage Daily

Sentence Handed Down in Seller Downpayment Scheme
August 13 -- A federal judge sentenced a Utah man to two years in prison Friday on charges connected to a multi-million-dollar mortgage fraud scheme that reportedly devastated property values in a Putnam County subdivision.
read story at Mortgage Daily

Pair Paid Buyers Kickbacks on New Home Purchases
August 13 -- Garret Griffith Gililland III, a key player in a huge mortgage and investment fraud that is still unfolding in Sacramento federal court, was sentenced Friday to seven years and 10 months in prison.
read story at Mortgage Daily

10 Charged in $40 Million Mortgage Fraud Case
August 13 -- Ten people have been charged in connection with their alleged roles in a $40 million mortgage fraud scam that used phony documents and "straw buyers" to make illegal profits on overbuilt condominiums at the Jersey Shore and resorts in South Carolina and Georgia, U.S. Attorney Paul J. Fishman said.
read story at Mortgage Daily

Date Defendants State Amount of Loans Overview Source
Aug 17 Timothy McCabe, Theresa Morales NY $560,000. JPMorgan Chase Bank a victim lender. Indicted. Department of Justice
Aug 14 Christopher Jon Andrews MN Multiple properties Pled not guilty.
Aug 14 Kenneth Perkins, Syed Babar (8 total) CT $4,750,000 in losses Perkins sentenced to 8 months. Department of Justice
Aug 14 Michael Hodges, Jose Guzman CT $9,000,000 in losses Hodges sentenced to 18 months. Department of Justice
Aug 14 Chad Arthur Anderson, Troy Allen Huston MN $1,800,000 Defendants pled guilty. Department of Justice
Aug 13 Julian Okeayaninneh, Olugbenga Temidago Adeniran, Fawsiyo Hassan Farah, Charles Tubman Dwamina, Jonathan Sie Earley, Jude Obira Okafor, Sundayga Dexter Roberts, Adetokunbo Olubunmi Adejumo, Charles Amankwah Akuffo, Oladipo Sowunmi Coker, Betty White MN $50,000,000 Okeayaninneh sentenced to 324 months, Adeniran sentenced to 266 months. American Express, Associated Bank, Bank of America, Capital One, Guaranty Bank, JP Morgan Chase Bank, TCF Bank, US Bank, Wachovia Bank, Washington Mutual and Wells Fargo Bank victim lenders. Department of Justice

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