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Mortgage Fraud Archives

Week Ending November 11, 2011

Mortgage Fraud News

Case Activity

Attorney Admits Role in Fraud Scheme
Nov. 10 -- New Haven lawyer David Kinney faces more than three years in prison after pleading guilty Wednesday to participating in a conspiracy that used fraudulent real estate transactions to bilk lenders out of mortgage loans.
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Father, Mother and Daughter Sentenced
Nov. 10 -- Three family members who pleaded no contest to conspiracy and grand theft in a multi-million dollar mortgage fraud scheme were sentenced to prison Wednesday.
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Florida Couple Admit to 50 Fraudulent Loans
Nov. 10 -- A Tampa couple pleaded guilty to their part in an $8.8 million mortgage fraud racketeering conspiracy.
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Jury Convicts Former Realtor
Nov. 9 -- A former East Berlin real-estate agent defrauded mortgage lenders of more than $6.2 million by filing false loan applications, then pocketed about $2.3 million of that money, a federal jury in Harrisburg determined this week.
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First Franklin Primary Victim in Mortgage Fraud Case
Nov. 9 -- The collapse of the housing bubble exposed Sacramento as one of the nation's centers for mortgage fraud. Yet even here, prosecutors say, their latest case stands out for its scope and the number of people involved.
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Guilty Plea for Former Police Officer
Nov. 9 -- A former Plantation police officer faces up to five years in prison after reaching a plea deal Tuesday with federal prosecutors who had alleged he orchestrated more than $16 million in mortgage fraud in South Florida.
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Fraudulent Cashout Transaction Leads to Loss of Home
Nov. 7 -- On Friday, Imogene Hall fought against tears as she boxed up her belongings and shut the door at her Miami Gardens home for the last time, closing the chapter on a five-year homeownership nightmare.
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Man Accused of Mortgage Fraud, Merger Fraud and Bankruptcy Fraud
Nov. 7 -- Peter M. Cicero bought companies that closed real estate transactions. But in doing so, he defrauded the lender backing the purchase, according to an indictment unsealed in U.S. District Court today.
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Crackdown Yields Charges on $21.2 Million in Mortgage Fraud
Nov. 7 -- A crackdown on mortgage fraud in the Myrtle Beach area -- announced by federal officials nearly 11/2 years ago -- has netted nearly two dozen indictments and guilty pleas thus far, and prosecutors say more charges will be forthcoming.
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4 More Indictments in $10 Million Calif Case
Nov. 7 -- A federal grand jury today indicted four Sacramento residents as part of wide-ranging investigation into mortgage fraud involving members of the local Russian-American community.
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$5 Million MN Case Yields 3rd Sentence
Nov. 7 -- A third major player convicted of racketeering in a $5 million mortgage fraud scheme was sentenced this week to seven years in prison.
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Date Defendants State Amount of Loans Overview Source
Nov. 10 Syed Rehman NJ $1,000,000 Pleaded guilty. Sentencing set for Feb. 15, 2012. Department of Justice
Nov. 10 Glenn Watkins, Kevin Watkins, Frederick Davis CA $1,000,000 Pleaded guilty.
Nov. 10 Michael Hurd WV $2,000,000 Pleaded guilty.
Nov. 9 Michael Lance Persac, Jason Ellis MS Multiple properties Sentences: Persac sentenced to 30 months prison plus 3 years supervised release and restitution/forfeiture of $3,624,383; Ellis sentenced to 5 months prison plus 5 months home confinement and 3 years supervised release, plus a total of $224,978 in restitution/forefeiture. Department of Justice
Nov. 9 Guadalupe Ramirez, Augustine Ramirez, Maria Ramirez CA $350,000 in restitution Sentences: Guadalupe 6 years prison; Maria 6 years prison, Augustine 4 years prison.
Nov. 9 David Kinney CT Multiple properties Guilty plea. Department of Justice
Nov. 9 David Barile, Melissa D. Barile FL $8,800,000 Guilty pleas. Department of Justice
Nov. 8 Walter Bressler NH $2,500,000 Motion filed to delay sentencing Motion
Nov. 8 Joseph Guaracino, Joseph DeRosa, John Velez, Matthew Gulla, Rene Rodriguez, Jacqueline Trumbore FL $16,000,000 Guilty plea from Guaracino. Others previously sentenced: DeRosa 37 months prison; Velez 42 months prison; Gulla 34 months prison; Rodriquez 43 months prison; Trumbore received probation. Department of Justice
Nov 7 Linda Abdullah (aka Linda Holt), Eric Waldon, Rolando Hampton, Felicia Hairston, Jacqueline Holt (aka Jacqueline Jones), Andrew Holt MI Multiple properties Guilty pleas. Department of Justice
Nov 7 Joanne M. Seeley PA $6,200,000 Convicted. Department of Justice

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