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Mortgage Fraud Archives

Week Ending August 24, 2012

Mortgage Fraud News

Case Activity

Appraiser Headed to Prison Over Inflated Appraisals
August 23 -- A former Charleston real estate appraiser who admitted to his role in an elaborate house flipping scheme in Putnam County will spend about a year and a half in federal prison.
read story at Mortgage Daily

Woman Accused of Conspiring With Girlfriend on 8 Properties
August 21 -- Another Allegheny County, Pa., tale of boom to bust in the real estate market is playing out this week in federal court, where a Sewickley woman is on trial for fraud in connection with buying at least eight homes from 2005 to 2008 using false information.
read story at Mortgage Daily

Settlement Reached on Alleged Fraud on 3 Large HUD Mortgages
August 20 -- The U.S. Department of Justice recently announced a multimillion-dollar settlement with three men who are accused of knowingly making false statements as part of a nursing home mortgage-refinance scheme.
read story at Mortgage Daily

Date Defendants State Amount of Loans Overview Source
Aug 23 J. Patrick Brester FL Multiple properties Indicted. Department of Justice
Aug 23 Alicia Martineau, Wilson Nicolas, Lisa Depa, Richard Novak CT $4,750,000 in losses Sentences: Martineau - 6 months, Nicolas - 3 months, Depa - 5 years probation, Novak - 5 years probation. Department of Justice
Aug 23 Kawika Morelli CO Multiple properties Indicted. Department of Justice
Aug 23 Michael Russo, Melissa Valentin CT $9,000,000 in losses Russo sentenced to 21 months; Valentin sentenced to 18 months. Department of Justice
Aug 23 Pervaiz Arshad VA $1,700,000 in losses Pled guilty. Department of Justice
Aug 23 J. Patrick Brester FL Multiple properties Indicted.
Aug 22 Christie Dionne Taylor AL $286,960 Pled guilty. Department of Justice
Aug 21 Rose Marie Sandrie FL $825,361.67 in losses. National City Mortgage/PNC Bank victim lender. Arrested.
Aug 21 Mark E. Greenlee, Deborah L. Joyce, James R. Thornton, Todd Joyce, Michael S. Hurd, Raymond Paul Morris WV Multiple properties Greenlee sentenced to 18 months. Department of Justice
Aug 21 Josephine Santana, Jose Rafael Martinez, Basilio Gomez, Andres Mendez (aka "Andy Mendez, Sr.,"), Andy Mendez (aka "Andy Mendez, Jr.,"), Lilia Casal-Diaz, Ayadie Carmen Londono, Raquel (Carrie) Martinez FL Multiple properties Guilty pleas from Santana, Martinez, and Gomez. Department of Justice
Aug 21 Frederick Warren, Denise Parks, Jeffrey Larochelle, Dorian Brown, Fritz Bonaventure, Joell Barnett, Foriduzzaman Sarder, Sakat Hossain, Mikael Huq, Eric Finger, and Reginald Johnson, Brandon Lisi NY $9,000,000 Warren senteced to 51 months; Parks sentenced to time served. Department of Justice
Aug 21 Satish Suri PA $2,375,000. Sovereign Bank a victim lender. Indicted. Department of Justice
Aug 20 Scott M. Wickersham SC $45,000,000 Pled guilty.

archived case entries back to 2005

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Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
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