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Mortgage Fraud Archives

Week Ending September 3, 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 FraudBlogger.com 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 MortgageDaily.com. 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 MortgageDaily.com
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 SACDA.org
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 MortgageDaily.com
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 MortgageDaily.com
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 MortgageDaily.com
Date Defendants State Amount of Loans Overview Source
Sep. 3 GIUSEPPE CRACCHIOLO, ATIIM COLLINS, TED CARTER MI $4,100,000 Guilty plea by Cracchiolo. FBI.gov
Sep. 3 Michael Yeomans, A. Greg Anderson, Richard Amelung, J. Kevin Foster, Anthony Porter, Neil O’Rourke NC over 2000 lots, properties valued at $20k sold for $125 k Consent judgments for Yeomans & Anderson. NCDOJ.gov
Sep. 3 Sissaye Gezachew VA $17,000,000 30-month sentence. FBI.gov
Sep. 3 Jacob A. Korn, Donata Baydovskiy, Vladislav Baydovskiy, Viktor Kobzar, Alla Sobol, David Sobol, Camie Byron WA multi-million Guilty plea by Korn in unreported income for fraud transactions. SeattlePI.com
Sep. 3 Stephen Sutliff, and Nikole Sutliff NY $2,300,000 Sentences handed down. saratogian.com
Sep. 3 Mike Foley NC $42,000,000 Guilty plea. charlotteobserver.com
Sep. 2 James Berghuis CA 9-counts. Indictment. Justice.gov
Sep. 2 Monique Le Nguyen, aka Monique Dzung Le; Andy Lieng, aka Xi Andy Lieng, Jr., aka Andy Xi Lieng, Jr.; Jenny Chi Ha, aka Phuong A. Ha, ; Tony Lieng, aka Ung A. Lieng; Lynn Truong, aka Linh Thi Truong; Shirley Wong, aka Ngoc Le Vuong CA $2,109,550 Guilty plea for Nguyen. Justice.gov
Sep. 2 Christopher D. Hales UT 1 house sold 2 times each for $250,000 above value Indictment. FBI.gov
Sep. 2 Jason L. Rabicoff, Eric M. Rabicoff, Bora Ly, Deborah Saulmon,, Anthony E. Carollo, , Rebecca Gelwix,, Anthony Painton Jr., Lucas R. Collier, Kong Bun Ly, Richard Ngek KS $3,000,000 Guilty plea by Jason Rabicoff. Justice.gov
Sep. 2 Todd Leary IN $2,700,000 Not guilty plea. ASSOCIATED PRESS
Sep. 2 James C. Platts, Deean Haggerty PA scheme Indictments. Post-Gazette.com
Sep. 1 Steven Taylor OH restitution of $144,212 Sentenced to probation. MorningJournal.com
Sep. 1 Roy Root, Dwayne Townsend, Timothy Corey, William Helbley, Robert Lunsford, Damon Petrich, Michael Wagner, Romero Minor, Wendell Kerr, OH $7,500,000 Charges filed. Victims include Argent Mortgage Co. LLC, Aegis Mortgage Co., America's Wholesale Lender, First Franklin Financial Corp., BNC Mortgage Inc., Concorde Acceptance, New Century Mortgage WFMJ.com, Business-Journal.com
Aug. 31 JEREMY DEBARROS MA multiple Charges filed. Justice.gov
Aug. 31 Matthew Bizyak PA 1 loan Guilty plea. Huntington Bank was victim Justice.gov
Aug. 31 Ryan Miller, Wildor Washington, Jr., David Kostelec, Amanda Childs, Gregory Stevenson KS $25,000,000 145-month sentence sentence for Miller. Justice.gov, Kansas City Business Journal
Aug. 31 Ronald O'Malley, Laura-Jean Arvelo, Edward Olimpio, Rachell Fischbein NJ 68-count indictment Indictments. Victims include American Partners Bank; JPMorgan Chase Bank, N.A.; Citibank, N.A.; Hudson City Savings Bank, FSB; Gateway Funding Diversified Mortgage Services, L.P.; First MAgnus Financial Corp.; Lincoln Mortgage Co.; CitiMortgage Inc. NorthJersey.com, NorthJersey.com, CNBC.com, CliffViewPilot.com
Aug. 30 Jason Vitulano, Steve Vento, Peter Hartofolis, Joseph Miller FL 12 counts 63-month sentence for Vitulano. Justice.gov

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