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Mortgage Fraud Archives

Week Ending September 23, 2011

Mortgage Fraud News

Case Activity

Mortgage Broker, Borrower Busted
Sept. 22 -- Two Broward County residents have been charged with orchestrating a $2.8 million mortgage fraud scheme, the U.S. Attorney's Office announced Wednesday.
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83-Year-Old Lawyer Faces Decade in Prison
Sept. 22 -- Sentencing was postponed late Wednesday for an 83-year-old former state representative from New Haven, Conn., who faces as much as 12 years in prison for participating in a mortgage fraud conspiracy that federal prosecutors say cost lenders as much as $3.2 million.
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Sentences Handed Down in Scheme Involving Bank Loan Officer
Sept. 22 -- A West Virginia real estate developer and a bank loan officer were each sentenced Wednesday and two Utah men were charged in mortgage fraud schemes that cost investors and banks millions of dollars.
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Not Guilty Plea for Former Florida Trooper
Sept. 21 -- TAMPA, Fla. -- Former Florida Highway Patrol trooper Shaun Leo Reid pleaded not guilty Wednesday to charges of mortgage fraud involving more than $100,000.
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Former Mortgage Solutions II President Pleads Guilty
Sept. 21 -- A New Kent County, Va., woman quietly pleaded guilty in Richmond federal court Tuesday to mail fraud in a $1 million mortgage loan scam that caused $568,293 in losses to eight lenders.
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State Trooper Indicted on Fraud Charges
Sept. 21 -- The U.S. District Court unsealed a potentially explosive criminal case today against an Ohio State Highway Patrol trooper who resigned last week after being arrested on fraud charges.
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Huge Fraud Scheme Uncovered
Sept. 21 -- The Minnesota Department of Commerce revealed Tuesday that it has been investigating what it called an elaborate kickback and mortgage fraud scheme allegedly involving at least 45 properties and a number of real estate professionals.
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Defendants Walk Free in $30 Million Case after Judge's Error
Sept. 21 -- A multimillion-dollar mortgage fraud case involving a Simi Valley company accused of defrauding customers across the state was dismissed Monday after the judge scheduled a preliminary hearing too late.
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FDIC Addresses Lawsuits Against Brokers
Sept. 19 -- The Federal Deposit Insurance Corp. said that it is not singling out mortgage brokers when it pursues claims on fraudulent loans owned by failed banks that it takes over. The regulator said that it follows much of the same procedure followed by wholesale lenders in similar situations.
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Broker Accused of Using Disabled Relative as a Straw Buyer
Sept. 19 -- A Kellogg man will appear in federal court today on charges of wire fraud and making a false statement to a financial institution.
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Date Defendants State Amount of Loans Overview Source
Sep 23 Jerry E. Craig Sr., Jerry E. Craig Jr. AZ Multiple properties Indicted.
Sep 23 Waunita Weingart, John Phillip Gallegos, Alois Craig Weingart CO $12,000,000 Indicted. Department of Justice
Sep 23 Matthew Gulla, Rene Rodriguez, Jacqueline Trumbore, John Velez, Joseph DeRosa FL $16,000,000 Sentences: Gulla 35 months prison; Rodriguez 43 months prison; Trumbore 3 years probation; Velez 42 months prison; DeRosa 37 months prison. Department of Justice
Sep 22 John Lattimore, Greg Tatum, John Kleem (32 total) OH $5,100,000 Indicted.
Sep 22 John J. Borzellino (aka John Ross) CA Multiple properties Guilty plea. Department of Justice
Sep 21 Wendy J. Werner CT $4,000,000 Sentenced 4 years prison plus $100,000 fine.
Sep 21 Raymond Paul Morris, Deborah L. Joyce, Michael Hurd WV $14,000,000 Indicted. Department of Justice
Sep 21 Morris Olmer CT $3,200,000 Sentencing postponed.
Sep 21 Donald R. Carter II, Roy Leon Cooper WV $4,000,000 Each sentenced to 51 months prison plus $1.9 million in restitution. Department of Justice
Sep 21 Jinnie Mathurin, Guhier Florvilus FL $2,800,000 Indicted. Department of Justice
Sep 21 Shaun Leo Reid FL $500,000 Not guilty plea.
Sep 21 Sarah A. Fleming OH $3,000,000 in restitution Sentenced to more than 6 years prison. Department of Justice
Sep 20 Benjamin W. Richardson OH $678,000 Indicted.
Sep 20 Nicole G. Hathaway VA $568,293 in losses Guilty plea. Victim lenders include: Freedom Mortgage, Washington Mutual Bank, CitiMortgage, New South Federal Savings Bank, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation. Department of Justice
Sep 19 Sean McConville, Michael McConville, Crystal Palomino CA $30,000,000 Case dismissed.
Sep 19 Joseph Guaracino, Dennis Guaracino FL $16,000,000 Trial ended in hung jury.
Sep 19 Janette Parker NC $877,244 in losses Indicted; has agreed to plead guilty. Department of Justice

archived case entries back to 2005

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