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October 19, 2007
Missouri Resident Charged In Fraud Case
Ramond Walter Zwego, who owns and operates several companies in Kansas City,
pleaded guilty to mortgage fraud charges and was ordered to pay $250,000 in
restitution to Fieldstone Mortgage Corporation.
Forged Title Documents May Result In Liens
34 North Dakota properties could be at risk due to the title opinion documents
that Diane Slaubaugh, owner of Midland Services, fraudulently signed to have
approved for funding by General American Corp.
read story from The Chicago Tribune
October 18, 2007
Alaska Man Sentenced In Fraud Case
A judge ordered Azem Limani to 18 months behind bars and to pay restitution of
$190,000 to Countrywide Home Loans for his part in a scam that involved obtaining
several nominee loans.
Namesake Used In Mortgage Scam
Indiana resident Shawn Gurley used the social security number of an Illinois resident,
who shares the same name, to acquire two fraudulent property loans totaling 37 thousand
dollars.
read story from MyWabashValley.com
Georgia Man Admits To Fraud
Kevin Wiggins pled guilty to one count of conspiracy and two counts of wire fraud for
his part in defrauding lenders out of $7 million in loans on 80 Georgia homes, many of
which now sit empty and in foreclosure.
read story from 11Alive.com
Mayoral Hopeful Faces Fraud Charges
A candidate for the mayor's office of Eagle Mountain, UT., Richard Culbertson, who
is also a real estate agent, has lost his licence and is facing charges that state
he used a straw buyer to gather loans on 4 area properties.
read story from KUTV
Couple Scam Bank Out Of $1.4 Million
Anthony J. Anderson, and his wife Laura Anderson, pleaded guilty in an Albany, NY.
court house on charges that they forged a scam to use straw buyers to obtain mortgages
on properties that turned into nearly $1.4 million in losses for Union Planters Bank.
read story from The North County Gazette
October 16, 2007
Fraud Task Force Cracks Down On Mortgage Company
County Authorities and State regulators raided a Chicago based mortgage company's
office and revoked it's licence in Planfield, IL. under allegations that loan officers
there were falsifying loan applications.
read story from KWQC - TV6
New Bill Submitted To Combat Fraud
State of Maine Representative, Terry Hayes, has submitted a bill that would remove
private information, like social security numbers and bank account details from
documents kept in county registries of deeds.
read story from The Sun Journal
Father Assisted Son In Massive Scam
Six mortgage lending companies have been bilked out of more than $2.9 million on
12 properties in Walworth County, WI. by Martin Valadez, who was assisted in the
scam by his father, Jose Valadez.
read story from The Week Extra
Mortgage Company Owner Arrested For Fraud
Jacob Milton and his sister Nira Niru were arrested in a Queens, NY. courthouse and
charged for masterminding a massive multimillion dollar identity theft and mortgage
fraud. Using his company, Griffin Mortgage Co., Milton defrauded dozens of people,
and has even been charged with threatening one of his victims.
read story from NewsDay
October 15, 2007
System Merge Provides Lenders More Protection
Mortgage lenders using Mortgage Builder will find they can now seamlessly
export their loan application data to the FraudGUARD system from Interthinx,
without needing to leave the Mortgage Builder system, saving time, closing
loans more successfully, and most importantly, saving money.
4 Convicted For Fraud In Kentucky Court
James Chadwick Hardison, of Louisville, and three Chicago residents, Freddie
Johnson, Willie Collins, and Marilyn Rainey, have been convicted in a Kentucky
court for identity theft and setting up more than $1 million in bad property
loans.
Argent Defrauded Out Of $13 Million
Over 100 victims of Scott Anthony Almeida's Florida mortgage scam may be pleased
with the sentence of 10 years he received for defrauding them, and Argent Mortgage
Co. out of $13 million.
read story from The Tampa Bay Business Journal
Higher FHA Foreclosure Rates
The Federal Housing Administration has been applauded by the Bush administration and
the House Financial Services Committee for providing safer alternatives to subprime
loans, however, foreclosure statistics on FHA loans my paint a different, darker picture.
read story from The Wall Street Journal
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