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Fraud
Stories
From
Patrick
Crowley

Fraud News Wire

Last Updated Thursday, September 14, 2006, 07:11 PM Texas Time


The Power of Attorneys

Stealing mortgage proceeds from clients is bad enough. But two of the latest real estate attorneys gone wild stole from elderly clients.

John Peck was once the city lawyer for New Haven, Conn., and a member of respected family law practice.

Now, he faces seven years in prison after being convicted of stealing $2 million of his clients' money.

Most of the thefts occurred in mortgage and real estate transactions, according to a statement from the Office of the Chief State's Attorney in Connecticut.

read Patrick's full story at MortgageDaily.com


Fraud Femme Fatale

Ann Fulmer, whose whole life has been about asking questions, has gone from a concerned citizen to a fraud prevention icon.

From radio reporter to lawyer to investigator to her present job helping companies uncover mortgage fraud, Fulmer has relied on an inquisitive nature since she was a child.

"My mother always said my first word was 'why?'," Fulmer said in an interview with MortgageDaily.com.

Fulmer is vice president of Industry Relations for Interthinx, a California-based provider of mortgage fraud prevention tools and services.

read Patrick's full story at MortgageDaily.com


September 8, 2006


Ethics Hearing Near for Councilwoman
A Kansas City ethics commission is working on scheduling a hearing to determine whether councilwoman Saundra McFadden Weaver broke the law by signing for an owner-occupied mortgage on a home intended for someone else and located outside of her residence requirements.
read the story from KMBC-TV .




Illinois Combats Foreclosure Rescue Fraud
Housing advocates outlined tactics used by fraudulent companies that promise to rescue borrowers from forelcosure.
read the story from the Pioneer Press .



NJ County Fights Predatory Foreclosure Help
Ocean County officials are alerting distressed homeowners about predatory practices by foreclosure deal makers and are using a two-step system that notifies homeowners when the property is posted for sale and later informs them results of the sale.
read the story from the Asbury Park Press .



Mortgage Scam Leaves Couple Homeless
A judge lifted an eviction injuction that had kept a couple in their home after mortgage broker Mitchell Sims promised they could repurchase the home from him at a later date but instead sold the property to another party.
read the story from Newsday .


September 6, 2006


Fraud Mergers & Acquisitions
Interthinx announced its parent, IO, acquired automated compliance provider Domus System.



Community Banks Tackle Fraud
America's Community Bankers announced it has named Edentify Inc. as a preferred provider of tools to protect banks and their customers from identity theft and fraud.



2 AZ Men Indicted for Mortgage Fraud
Frank Padilla and Carlos "Charlie" Bent were indicted for their alleged roles in a $13 million mortgage fraud scheme involving 21 properties.



Council Woman Posts Mortgage Ethics Inquiry
Kansas City council woman Sandra McFadden-Weaver is asking the city's ethics commission to investigate whether she violated laws concering conflicts of interest or financial disclosure when in exchange for remodeling work on her home she obtained two mortgages for another home that was recently foreclosed on and which she never intended to live in, make mortgage payments for and may have inovled fraud by others.
read the story on Kansas City Star .



Morgage Broker Faces Fraud Charges
Kimberly Lynn Jones, also known as Kimberly Lynn George, is being accused of creating false settlement documents to decieve lenders into disbursing additional loan proceeds for her personal use.
read the story from the Chattanoogan .



Man Sentenced For False Tax Returns
Christopher Bent Belaire received an 18-month prison sentence after pleading guilty to filing false tax returns in 2000 and 2001 -- years in which he allegedly ran errands for and accessed funds from PinnFund USA, whose Chief Executive Officer Michael Fanghella was imprisoned for conspiracy in a $300 Ponzi scheme.
read the story from the North County Times .

read full PinnFund coverage from MortgageDaily.com .



Two Accused of Misusing Investor Funds
Florida officials are investigating Torrey K. Cooper and Richard S. Truesdale for possible misappropriation of investor funds for residential community projects, which includes a property with a $3.4 million mortgage from Fifth Third Bank that is in litigation.
read the story from the St. Petersburg Times .



No Doc Loans Target for Mortgage Fraud
Mortgage consultant Peter Boutell details methods used in mortgage fraud.
read the story from the Santa Cruz Sentinel .



Former NV Assemblyman Dies
Former Nevada state assembly speaker Harley Harmon died within just 16 days of completing his jail sentence for mail fraud involving his Harley Harmon Mortgage Co.
read the story from KLASTV 8 Eyewitness News .



Last of Mortgage Fraud Scam Convicted
Former Freedom Financial Mortgage employee Bertram Case "Casey" Miller was found guilty on four counts for particpating in submitting mortgage applications with false information in order to receive funds banks would otherwise not provide.
read story from News Channel 3 .



BBB Employed Woman Involved in Fraud Scheme
The director of Spokane Better Business Bureau hired Sally L. Gibson, former owner of Century Mortgage, as a business consultant while she appealed her conviction and federal prison sentence for her involvment in a $1.4 million mortgage fraud scheme.
read the story from The Spokane Review .



Lawyer Gets Jail Term for Flipping Scheme
Alex J. Newton was sentenced to 41 months in federal prison after admitting to misleading mortgage lenders by conducting undisclosed flip transactions that advanced more than $1 million in loans to unqualified purchase money borrowers.
read the story from WIS 10 .



Mortgage Fraud Financed Pot Houses
Five homes fraudulently financed by Metrocities Mortgage were among 15 houses where a sophisticated indoor marijuana growing operation yielded police 10,600 plants in seizures.
read story from News10 KXTV .



2 Sentenced in Flipping Scheme
Jerome Womack and Troy Anderson received a 1-year jail sentence for their involvment in a $1.6 million flipping scheme to which six other people have pleaded guilty in the conspiracy.
read the story from the Post-Gazette .



Judge Refused to Change Fraudster's Sentence
Kirk McVey's 2.5-year prison sentence remains despite arguing that his role in helping defraud a mortgage lender on 30 properties was too harsh compared to what was given to two other conspirators.
read the story from the Bradenton Herald



Former Broker Indicted for Stealing Escrow Money
Tony Daniloo, who admitted to stealing from Bary Area senior refinance borrowers through companies he previously served leadership roles, Residential Credit Corp. and DreamLife Financial, was indicted on 41 counts of wire fraud, four counts of mail fraud and 77 counts of money laundering, which prosecutors estimate at $7 million.
read the story from Contra Costa Times .



Lawyer Stole from Clients
Former attorney John Peck Jr. was sentented to seven years in prison after pleading no contest to allegations he embezzled $2.2 million from clients of his family law firm for over for years, including a woman who complained Peck kept money from the sale of her home and money she sent him to pay down the mortgage.
read story from The Advocate



Lawyer Caught Up in Mortgage Scandal
Richard B. Laschever, a 51-year lawyer, surrendured his law license amid investigations into $1 million in missing funds and a lawsuit filed against him by National City Warehouse Resources.
read story from the Journal Inquirer


 
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