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Mortgage Fraud Archives

Week Ending September 13, 2012

Mortgage Fraud News

Case Activity

Guilty Plea to Mortgage Fraud on NJ Condos
Sept. 13 -- Two people have admitted their roles in a multi-million dollar mortgage scheme that used condominiums in the Wildwood, N.J., area.

CA Realtor Admits Defrauding Clients
Sept. 12 -- MODESTO, Calif. -- A Modesto real estate agent on Wednesday pleaded no contest to a misdemeanor count of making false or misleading statements to a family trying to buy a home in Newman.

Mortgage Fraud Reflects Improvements in FL, Appraisals
Sept. 10 -- Legal actions taken by the government against mortgage fraud suspects have been slowing. Reflected in the decline is a significant reduction in the level of appraisal fraud. Also impacting activity was Florida, where mortgage fraud reports on recent originations have plummeted from reports on earlier vintages.

Realtor to Plead Guilty in Condo Mortgage Fraud
Sept. 9 -- MYRTLE BEACH, S.C. -- Former real estate agent and investor Scott Lemons has agreed to plead guilty to one felony charge of mail fraud related to condominium sales at the Ashley Park project in Carolina Forest, according to documents filed in federal court in Florence.

RE Firm's Owner Admits Mortgage Fraud
Sept. 9 -- MODESTO, Calif. -- The former owner of Century 21 Apollo in Modesto has agreed to plead guilty to fraud charges in a deal that should fetch a federal prison sentence of at least eight years. James Lee Lankford and his husband, Jon Vance McDade, bilked $10 million from elderly homeowners in Modesto and Hughson and from lenders, from 1999 to 2010, authorities said in a 49-count indictment.

Date Defendants State Amount of Loans Overview Source
Sep 13 Adorean Boleancu CA $1,800,000. Pleaded guilty. Department of Justice
Sep 13 Kevin Mayberry SC $505,924 restitution. PNC Bank a victim lender. Sentenced to 1 day.
Sep 13 Jamie Bowers-Danielson, Matthew Danielson IA Multiple properties Sentences: Jamie - 41 months, Matthew - 12 months. Department of Justice
Sep 12 Kwame Nkrumah (aka Roger Woodson), Charmaine Davis NJ $152,514 in forfeiture Nkrumah sentenced to 48 months, Davis sentenced to 24 months. Department of Justice
Sep 12 Todd Van Natta IN $10,000,000 Sentenced to 60 months. Department of Justice
Sep 12 Paul Watterson, John Bingaman NJ Multi-million dollar scheme Pleaded guilty. Department of Justice
Sep 10 Laura Snyder OR $7,000,000 Sentenced to 21 months.
Sep 9 Eric Damon Johnson, Tracie Elaine Stenson TX $10,000,000 Sentences: Johnson - 48 months, Stenson - 57 months. Department of Justice
Sep 9 David R. Sharrock, Rhonda J. McElroy, Ronald L Kightlinger, Richard W. Balliett OH $1,300,000 in losses. Geauga Savings Bank, J.P. Morgan Chase Bank, Washington Mutual Bank, Interbay Funding LLC, and Suntrust Mortgage Inc victim lenders. Sharrock pleaded no contest, McElroy convicted. Department of Justice
Sep 9 David Ovist, Don Kazlauskas, Jacob Shoop, Ricki Shoop, Sherrie Inouye OR $2,500,000 Ovist sentenced to 57 months. Department of Justice
Sep 9 James Lee Lankford, Jon Vance McDade (aka Jon Lankford) CA $10,000,000 Pleaded guilty.

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