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Mortgage Fraud Archives Week Ending October 01, 2010

Mortgage Fraud News

Case Activity

Oct. 1, 2010

LA Hosts Mortgage Fraud Summit
Representatives of the Financial Fraud Enforcement Task Force met in Los Angeles on Sept. 30.
read FBI announcement

LA Has Most Fraud Reports
Based on mortgage fraud reports made since 2008, Los Angeles ranks as the worst city.
read story at
Sept. 29, 2010

Mortgage Fraud Summit Moves to Central California
A federal panel heard from real estate agents, attorneys and members of the public at an event held in Fresno, Calif. read FBI announcement | read article at
Sept. 22, 2010

Mortgage Fraud Testimony
A panel of national and local experts told the federal Financial Crisis Inquiry Commission, among other things, that regulation of mortgage fraud is inadequate and financial incentives are misplaced.
read story at the Miami Herald
Sept. 21, 2010

Mortgage Fraud Testimony
Ann Fulmer, who has been fighting mortgage fraud since 1996, testified before the Financial Crisis Inquiry Commission about the impact of mortgage fraud.
read announcement from Interthinx
Sept. 17, 2010

Mortgage Fraud on Commission's Agenda
A federal financial crisis commission will discuss South Florida mortgage fraud at a Miami hearing.
read story at Miami Herald
Sept. 16, 2010

$1.7 Million for Prosecuting AZ Mortgage Fraud
A $1.7 million grant was awarded by the U.S. Department of Justice to Arizona's attorney general's office to fight mortgage fraud in the state.
read announcement from Arizona Attorney General

Freddie Steps Up Fraud Fight
Mortgage firms that sell loans to the Federal Home Loan Mortgage Corp. have new procedures to follow as part of the company's efforts to police and reduce mortgage fraud.
read story at Mortgage Daily

White Paper on Fraud at Lending Institutions
As you think of the suspense-filled spy
movies in which the hero must defuse a bomb to save the city, you can hear the familiar “tick, tick, tick” of the bomb’s time clock. With ninja like precision the hero cuts the yellow wire, or maybe the red wire, just in time to stop the clock, neutralize the bomb, and save the day. The rush of adrenaline, the intensive focus, and the danger seem to only last for a few seconds then it is all over and everything is safe.
read full report

Sept. 13, 2010

Mortgage Fraud Prevented at Application
A company that provides technology for the applications taken by mortgage loan officers has loaded its offerings with technology that helps prevent mortgage fraud.
read full announcement

Calif. Town Sees $150k Mortgage Fraud Grant
The town of Glendale, Calif., has put a $150,000 grant for mortgage fraud to use. So far this year, local law enforcement has worked on 50 cases with 134 defendants.
read story at
Sept. 2, 2010

Flops, Foreclosures and Fraud
Short-sale fraud, foreclosure fraud and mortgage fraud are all topics that Ann Fulmer is an expert on.
watch full video at
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 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 The two fugitives were on a mortgage fraud spree.
read article - watch video
Date Defendants State Amount of Loans Overview Source
Oct. 1 Scott Whatcott, Ramona Fricosu CO scheme Indictment. Victims include Wells Fargo Home Mortgage, USAA Federal Savings Bank, Sun Trust Mortgage, Taylor Bean & Whitaker, Nexgen Lending Inc., National City Mortgage dba PNC Mortgage
Oct 1 James William Fox II MD losses between $1 mil and $2.5 mil Guilty plea.
Oct. 1 Terry Hart, Diane Shelton, Mark Brow IL $3,000,000 Guilty conviction for Hart. Victim was Staley Credit Union
Oct. 1 KENNETH PERKINS CT losses of $1.5 million Guilty plea.
Oct. 1 Yi Feng "Penny" Reid, Yu Jane Chen, George Liu, Ji Gang Chen NJ $1,150,000 3-year sentence for Reid, guilty plea by Chen. The Associated Press,
Sep. 30 Demetrius G. Gianopoulos CO $570,000 Indictment. Victims include Countrywide Bank, PHM Financial Inc. dba Professional Home Mortgage
Sep. 30 Gilberto Luna FL $1,000,000 Arrest.
Sep. 30 Juan Rangel, Javier Juanchi, Pablo Araque CA $11,000,000 Indictment.
Sep. 30 Tiffany Travis SC $1,602,200 Guilty plea. Victims included JPMorgan Chase, Counrywide Bank and National City Bank.
Sep. 29 Justin Dee Linder, Kelly Jo Linder, Gregg Borchardt, Hector Secco CA $9,000,000 Charges filed. (this entry was added after publication of Q3-2010 Mortgage Fraud Index report and not included)
Sep. 29 Wade M. Entezar, Vladislav Baydovskiy, Carl Van der Merwe, Geneva Entezar WA $47,000,000 Home raided by federal offiicials.
Sep. 28 Eddie Zaben MI restitution of $3 million Guilty plea.
Sep. 28 Bernadette Nicholas, Kevin D. McAllister, Wayne Rosen PA $30,000,000 Indictment. Malvern Federal was a victim.
Sep. 28 BRIAN STEPTOE, NATASHA STEPTOE GA $400,000 54-month sentence for Brian, 20-month sentence for Natasha.
Sep. 27 Michael Jacoby, Derek Zar, Susanne Zar, Michael Macy CO losses of $2.5 mil Indictments.
Sep. 27 Jeremie Sheneman IN $4,000,000 Indictment.,
Sep. 27 John Wanek, Robert Swanigan OH $38,000,000 9-year sentence for Wanek.
Sep. 27 ARTHUR SAMUELS, Michael R. Anderson, Michael David Scott, Thursa Raetz, Jerrold Fowler MA 27 condos Not guilty pleas entered by some defendants.
Sep. 27 Blair Witkowski SC losses up to $7 mil Guilty plea.

archived case entries back to 2005

Mortgage Fraud Litigation

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Red Flags Rule
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