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Mortgage Fraud Archives

Week Ending August 27, 2010

Mortgage Fraud News

Case Activity

Aug. 24, 2010

Texas Family Mired in Mortgage Fraud
The Corsicana Daily Sun is running a four-part series on the Texas Marriotts.
read story at Corsicana Daily Sun
Aug. 23, 2010

350 FBI Agents Dedicated to Mortgage Fraud
More than 350 of the 13,000 agents employed by the Federal Bureau of Investigation are devoted to mortgage fraud.
read full story at WITN

Mortgage Fraud Cases Jump 55%
A big surge in the number of active mortgage fraud cases helped push the Second Quarter 2010 Index higher. The heavier caseload follows increased efforts by the Obama administration to prosecute mortgage crimes.
read full announcement
Aug. 21, 2010

Story of Bonny and Clyde of Mortgage Fraud
In 2004, Matthew Bevan Cox and Rebecca Marie Hauck were dubbed the "Bonny and Clyde of mortgage scams" by The two fugitives were on a mortgage fraud spree.
read article - watch video
Aug. 17, 2010

Risk of Mortgage Fraud Subsides
U.S. mortgage loans are less likely to involve mortgage fraud than they were three months ago, according to a quarterly index released Tuesday. But the risk of identity fraud was worse.
read story at
Aug. 13, 2010

Uptown Dallas Hotbed of Fraud
The 75201 zip code includes an arts district, several entertainment centers and lots of swanky high-rise condominiums. An anlysis of mortgages there, however, indicated 13 percent of loans in the are include mortgage fraud.
read story at Dallas Morning News
Aug. 9, 2010

Sacramento Expands Mortgage Fraud Unit
The district attorney in Sacramento, Calif., has expanded the real estate fraud unit.
read announcement at
Aug. 6, 2010

RI AG Candidate Targets Net Branch Loophole
Stephen R. Archambault, who is running as a Democrat for Rhode Island attorney general, says mortgage brokers and originators can avoid criminal background checks and license requirements by signing a net branch agreement -- a loophole he hopes to outlaw.
read story at Providence Journal
Aug. 4, 2010

Fast Growing Fraud Detection Firm Adding 200
Rapid growth at a technology firm that helps lenders identify potential mortgage fraud has it expanding by 200 employees in Florida. The company has doubled in size each of the past three years and expects to do so again this year.
read story at
Aug. 1, 2010

Mortgage Fraud Helps Topple MN Bank
A new government report on mortgage fraud indicates that post-origination reviews by parties other than the lender have grown. More than two-thirds of mortgage fraud reports were filed by institutions overseen by one federal regulator.
read story at
July 24, 2010

Mortgage Fraud Helps Topple MN Bank
Mortgage fraud by a builder of upscale homes helped bring down a Minnesota bank on Friday.
read story at
Date Defendants State Amount of Loans Overview Source
Aug. 27 Donna Demello, James Delbert McConville, Araks Davoudi, CA $20,000,000 Guilty plea by Demello.
Aug. 27 GEORGE ESSO, RAVI PERSAUD NY $23,000,000 Guilty verdict.
Aug. 27 Kyle Grasso, Lila Rizk, Elliott Fitzgerald, Mark Alan Abrams, Nicole LaViolette, Jamieson Matykowski, Timothy Holland, Richard Maize, Thomas R. Schiff, L. Scott Robinson

CA losses exceeded $40,000,000 78-month sentence for Abrams.
Aug. 27 Aaron V. Hernandez VA losses exceeded $4,500,000 63-month sentence.
Aug. 27 Erik Adams, Lonna O'Steen AL fines up to $1,000,000 Guilty pleas.
Aug. 27 Leroy S. Steele, Brian Destefanis, Todd Cerankowski, Frank Ruggiero, Nicki McMannis, Andrea Destefanis, Donna Destefanis, Paul Gosden OH 40 properties 3-year sentences.
Aug. 27 William D. Timberlake VA $2,200,000 18-month sentence.
Aug. 26 MICHAEL DAVID SCOTT, Arthur Samuels, Jerrold Fowler MA 22 counts Charges filed.,
Aug. 26 Edward L. Carpenter AZ proceeds of $257,398 Guilty conviction.
Aug. 26 Matthew A. Kim VA losses fo $1,900,000 Guilty plea.
Aug. 26 Victoria Sprouse NC $5,000,000 New trial sought by defendant.
Aug. 25 Ron Bordelle Williams AL 1 transaction. 1-year sentence. Press-Register
Aug. 25 Allen Seymour, Raymond A. Desautels III, Judith Piette, Jason Passell, Thomas Itemere, Erik Tancun MA $1,000,000 Sentence of probation for Itemere.
Aug. 24 Michael Dokmanovich PA multiple 41-month sentence.

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