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Week Ending October 5, 2012

Mortgage Fraud News

Case Activity

Realtor Admits Guilt in MN Mortgage Fraud Case
Oct. 4 -- A former Bemidji real estate agent faces up to 20 years in prison after pleading guilty in federal court to conspiracy to commit wire fraud in a scheme that defrauded more than $743,000.
read full story at Mortgage Daily

Former Wachovia Banker Sentenced in $11 Million Mortgage Fraud Case
Oct. 2 -- A former banker was sentenced today for her role an $11 million mortgage fraud scheme involving homes on Smith Mountain Lake, Va.
read full story at Mortgage Daily

MN Man Admits to Receiving Seller Kickbacks
Oct. 1 -- A 43-year-old Minneapolis man pleaded guilty Friday to defrauding mortgage lenders out of millions of dollars related to the sale of condominiums in Burnsville.
read full story at Mortgage Daily

Date Defendants State Amount of Loans Overview Source
Oct. 5 Lilia Casal-Diaz, Raquel DeJesus Martinez, Andres Mendez (aka Andy Mendez, Sr.), Andy Mendez, (aka Andy Mendez, Jr.), Josephine Santana, Jose Rafael Martinez, Basilio Gomez FL $5,600,000 Casal-Diaz, Martinez, Andres Mendez, and Andy Mendez pled guilty. Department of Justice
Oct. 5 Michael Persac, Jason Ellis MS $3,300,000 Appeals court upheld conviction. Persac sentenced to 30 months, Ellis sentenced to 5 months.
Oct. 5 Vicki Dillard Crowe (aka Vicki R. Dillard) CO $2,408,142.37 in restitution Sentenced to 60 months. Department of Justice
Oct. 4 Kevin D. Hightower OH $3,600,000 Pled guilty.
Oct. 2 David Han CA $1,065,000 in restitution Sentenced to 37 months. Department of Justice
Oct. 2 Edward C. Detwiler MN $743,698.70 in losses Pled guilty. Department of Justice
Oct. 2 Mary Novak Thompson (7 total) VA $11,000,000 Sentenced to 1 day. Department of Justice
Oct. 1 Harry Anthony PA $1,000,000 in restitution Sentenced to 5 years. Department of Justice
Oct. 1 Robert Coyle, Sr. PA $10,000,000 Pled guilty. East River Bank, Republic First Bank, Polonia Bank victim lenders Department of Justice
Oct. 1 Anthony J. DeMarco III, Michael Richard Roberts, Sean Ryan McBride, Eric Bascove PA $30,000,000 Sentences: DeMarco 25 years, Roberts 10 years, McBride 63 months, Bascove 41 months. Department of Justice
Oct. 1 Michael Howard Clott NY $10,000,000 Sentenced to 259 months. Department of Justice

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