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Mortgage Fraud Archives

Week Ending September 30, 2011

Mortgage Fraud News

Case Activity

Pastor Recruited Church Members as Straw Buyers
Sept. 29 -- A Chester County, Pa., pastor was charged by federal authorities in engaging in a $6 million mortgage fraud scheme.
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4-Year Sentence in $7 Million Case
Sept. 29 -- A 28-year-old Webster, Minn., man was sentenced Wednesday in federal court in St. Paul for bilking more than $7 million from at least 15 real estate mortgage lending companies.
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$12 Billion in 2010 Fraudulent Originations
Sept. 29 -- Last year, $12 billion in fraudulent mortgage loans were originated, according to a new report. Compared to 2010, the rate of fraud this year is expected to be mostly flat. But there has been a shift from identity theft to fraud committed on distressed sales. Government mortgages have been found to carry more risk than their conventional counterparts.
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Light Sentence for Man Who Used Stepdaughter in Scheme
Sept. 29 -- Fred Layman stood before a federal judge Wednesday as a broken man, pausing to collect his composure as he read an apology he spent a year writing.
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Guilty Defendant Faces Up to 20 Years in $20 Million Case
Sept. 28 -- A 52-year-old Chanhassen, Minn., man who allegedly accepted $580,000 in kickbacks on the sale of six properties pleaded guilty Tuesday in federal court to conspiracy to commit wire fraud.
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Mortgage Fraud Reports Continue Rising
Sept. 28 -- As lenders that are forced to buy back loans do their own investigations, the quarterly rate of mortgage fraud reports continues to grow. Most of the alleged crimes happened more than three years ago.
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5-Year Sentence for 83-Year-Old Lawyer
Sept. 26 -- An 83-year-old attorney was sentenced to five years in prison for his role in an extensive mortgage fraud conspiracy.
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Guilty Plea from Mortgage Fraud Boss
Sept. 26 -- TAMPA, Fla. -- A year after his $6.9 million-mortgage fraud scheme was uncovered in a 2006 Tampa Tribune investigative story, Chad Evans was under pressure amid a federal government investigation.
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November Trial for Trooper
Sept. 26 -- The mortgage fraud that former State Highway Patrol trooper Benjamin W. Richardson is accused of was part of an $11 million racketeering scheme that involved 26 properties in Franklin County in 2010.
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Date Defendants State Amount of Loans Overview Source
Sep 30 Henry J. Papale FL Approx. $800,000 Indicted. Department of Justice
Sep 30 Neil Fagan, Pamela Johnson, Veldora Arthur FL $11,000,000 Convicted. Department of Justice
Sep 30 Thomas Colvin and Kristaq Gjordeni MO $5,100,000 Guilty pleas. Department of Justice
Sep 30 Robert Shallenberger MN $4,900,000 in restitution Sentenced to 37 months prison plus restitution. Department of Justice
Sep 30 Valeri Mysin, Angela Shavlovsky, Nikolay Katinskiy, Michael Kennedy, Alexander Kokhanets, Boris Murzak, Zinaida Murzak, Vitaliy Tuzman CA $1,800,000 Indicted. Department of Justice
Sep 30 Robert Daniel Kelly SC $1,000,000 Guilty plea. Department of Justice
Sep 30 Osvaldo A. Mercado VA $3,400,000 Indicted. Department of Justice
Sep 30 Manetirony Clervrain (aka "Kevin Rusell") FL $5,700,000 Sentenced to 108 months prison plus 3 years supervised release. Department of Justice
Sep 29 James Merrill Roberts UT Multiple properties Sentenced to 37 months prison. Department of Justice
Sep 29 Alina Rubi, Camilo Garcia, Sylvia M. Zagales, Ivette Carreno, Pedro Rubi, Dianelys Garcia, Luis Pardo Dieguez, Galia Fernandez, Jr., Sheena Eizmendiz, Ivis R. Hernandez, Jose Raul Hernandez, Yovanis Obregon Jimenez, Jose Manuel Pardo, Sandra M. Rodriguez, Mayra Martinez Suarez, Laura E. Diaz, Juan R. Prieto, Flavia E. Perez, Jose Antonio Diaz, Johny Hernandez FL $40,000,000 Indictments. Department of Justice
Sep 29 Michael Wilkerson, Joyce Wilkerson, Lee Garell, Denise Haines PA $6,000,000 Indictments. Department of Justice
Sep 28 Dustin LaFavre MN $7,000,000 Sentenced to 48 months prison. Department of Justice
Sep 27 Mark Anthony McBride GA $2,200,000 Sentence reduction denied.
Sep 27 Douglas Rex Butler MN $20,000,000 Guilty plea. Department of Justice
Sep 27 Ted Doumazios, Thomas Cusack III NY $1,200,000 FDIC has taken action to recover lost funds. Both previously peaded guilty to separate indictments.
Sep 27 Jacob Moynihan, Gerald Moynihan, John Greco, Raymond Foakes, Desiree Maclean, Josh Leo Johnson, Jerry Mays, Justin Batemon CA $10,000,000 Indictments. Department of Justice
Sep 26 Christopher Johns, Allen Banks WI Multiple properties Sentences: Johns 30 months prison plus 2 years supervised release; Banks 24 months prison.
Sep 26 Edwin Charles Harrison, Linda Sue Harrison TX Multiple properties Guilty pleas. Edwin sentenced to 5 years probation and $2,500 fine; Linda sentenced similarly. Department of Justice
Sep 26 Morris Olmer CT $4,400,000 Sentenced to 60 months prison plus 3 years supervised release.
Sep 26 Chad Evans, Chris Malcom FL $6,900,000 Guilty pleas. Sentencing set for November.
Sep 25 Keith Earl Holiday CA Multiple properties Sentenced to 60 days prison plus 4 months in halfway house.

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