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November 9, 2007|
Lawsuit Over Denied M.I. Claims
A bankrupt mortgage servicer has filed a lawsuit against a mortgage insurer because
of rejected claims. But the insurance company claims mortgage fraud on the loans in
question relieves it of liability.
read story from MortgageDaily.com
Con Man May Face Life For Loan Fraud
Clifford Brigham, a seasoned con-artist, diverted nearly $400,000 into his own pockets
from 30 Oregon home sales and $5 million in bad loans. He may face a life sentence due
to his roll in another fraudulent loan related crime.
read story from KTVZ
Attorneys Undaunted By Jury's Decision
Although Katheryn Shields and her husband were found not guilty of mortgage fraud by a
Missouri jury, the U.S. attorney's office plans to aggressively pursue convictions in
other suspected incidents of overly inflated appraisals and straw buyer scams.
read story from The Kansas City Star
Federal Fraud Investigation Snares PA. Man
Robert L. Dodsworth, the president of a Erie home redevelopment company has been charged
with fraud by the U.S. attorneys office in their ongoing investigation of housing scams
in the area.
read story from GoErie.com
Woman Stole Identity For Mortgage
Jose Lara stated to a Virginia court that his credit has been ruined by Elizabeth
Cabrera-Rivera, who stole his credit and identity information to obtain a mortgage
on a $419,000 townhouse.
read story from The Washington Post
November 8, 2007
Fraud Ring Swindles $14 Million From Lenders
Six people are facing fraud charges in Kansas City, Kansas alleging that they
defrauded lenders in several states out of $14 million by obtaining mortgages for
homes with inflated values.
Task Force Claims Gains Over Fraud
Miami-Dade's Mortgage Fraud Task Force states that it is making progress in prosecuting
the ever growing numbers of real estate scams in the area, however, some officials and
industry insiders worry about the lack of resources available to deal with the influx of
cases into the legal system.
read story from The Miami Herald
Fraud Suspect Found Dead
Lou Sengheiser, who founded a spinal cord injury charity in St. Louis named Gateway To
A Cure, was on trial for allegedly dipping into the fundraiser's assets for personal use,
such as paying his mortgage bills, however, the judge in the case has dismissed the jury
after revealing to them that he was found dead on Thursday morning, November 8th.
read story from STLtoday.com
November 7, 2007
Upcoming Fraud Conference To Educate Industry
Several experts will be speaking at the Mortgage Fraud Blog Conference in Las Vegas
on November 14th and 15th, which will focus on prevention and loss recovery for lenders
Title Company Owner Added In Danish Case
Another defendant has been included in the fraud case against Michael W. Danish. Donna
Whitlock was arrested and accused of using her company, Bay Point Title Inc. in helping
Danish close fraudulent loans on more than 20 Florida properties that cost the scheme's
victims approximately $400,000.
read story from TampaBay.com
Shields Acquitted In Mortgage Fraud Trial
A Kansas city jury has acquitted Katheryn Shields and her husband, Philip Cardarella in a case
that alleged the two were involved in a scam to sell their home at a fraudulently inflated price.
read story from The Hays Daily News
November 6, 2007
Florida Man Guilty In Refinancing Scheme
Michael Danish is in hot water after pleading guilty to a scam that tricked 20 people
into refinancing their homes in order to purchase new air conditioning units. Danish
then took out larger loans that what the homeowners agreed to, pocketing $400,000 in
cold hard cash.
read story from TBO.com
CA Scam Artists Blame Fictitious Accomplice
Eric Charles Braun has been charged, along with Noah Adam Yates and Doug Eugene
Wallick, for a complicated fraud case in which the three defendants bilked mortgage
lenders out of more than $2 million, and then invented "Seth Davis" to take the blame
when the operation inevitably was discovered.
read story from The Modesto Bee
November 5, 2007
Husband and Wife Admit to Mortgage Fraud
Charles Drake Cazier and his wife, Carmen Leann Wright, have been sentenced in an
Idaho court for defrauding Mountain West Bank. The husband and wife team submitted
false pay stubs and W-2 forms to obtain the mortgage loan for $92,150.
FBI Investigates Nationwide Mortgage Scam
The FBI is investigating a nationwide mortgage scheme that involves 256 properties.
The suspect in the inquiry , Charles Head, allegedly used straw buyers to acquire the
now defunct loans though his failed company FundingForeclosure.com.
read story from The Daily Record
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