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Mortgage Fraud Archives

Week Ending October 25, 2012

Mortgage Fraud News

Case Activity

Waxhouse Mortgage Fraud Draws 2 More Convictions
Oct. 24 -- A federal jury on Wednesday convicted two Charlotte residents in the massive mortgage-fraud investigation known as "Operation Wax House," federal prosecutors said.

Banker Bilks Bank of America through Mortgage Fraud
Oct. 24 -- A former Orlando, Fla.-area bank executive has been charged with criminal bank fraud in an alleged scheme that used fabricated documents and a bogus land sale to bilk hundreds of thousands of dollars from Bank of America Corp., federal prosecutors say.

Investors, Lenders Duped in $15 Million Mortgage Fraud Scheme
Oct. 21 -- A Washington Township, Pa., woman will spend the next 3 1/2 years in a federal prison for her part in a $15 million scam.

Date Defendants State Amount of Loans Overview Source
Oct 24 Sidney Coton, Jim Sotolongo FL $50,000,000 Coton agreed to plead guilty.
Oct 24 Stanley Walton, Pamela Black NV $4,300,000 in restitution Walton entenced to 41 months.
Oct 24 Lemuel David Thornton CA $232,000 in restitution, JPMorgan Chase & Co. victim lender. Sentenced to 24 months. IRS
Oct 24 Bhardwaaj "Deo" Seecharan, Linda Rovetto FL $3,500,000 Seecharan sentenced to 60 months. Department of Justice
Oct 24 Braden S. Koegel FL $400,000 Indicted. BofA victim lender.
Oct 23 Nathan Shane Wolf, Denetria Montresa Myles (91 total in Waxhouse case) NC $75,000,000 Convicted by jury. Department of Justice

archived case entries back to 2005

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