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Mortgage Fraud Archives
Week Ending Nov. 20, 2009
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Mortgage Fraud News
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Case Activity
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Nov. 17, 2009
South Chicago Condos Stung Hard by Mortgage Fraud
On the South Side of Chicago, mortgage fraud hit condominium communities especially hard.
listen to full story from WBEC
FBI Warns of Fraud During Foreclosure Process
The FBI's Detroit offices sent representatives to speak to agents at Michigan Re/Max about mortgage fraud during the foreclosure process.
read full story from Daily Press & Argus
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Nov. 16, 2009
US AG Reports Huge Rise in Fraud Cases
U.S. Attorney General Eric Holder reported that the Federal Bureau of Investigation is currently investigating 2,400 mortgage fraud cases -- a 400 percent increase from five years ago.
read full DOJ announcement
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Nov. 4, 2009
Over 100 Florida Arrests
The crackdown in Florida resulted in more than 100 arrests alreade.
read story from CFNews13.com
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Nov. 3, 2009
NY Senate Hears Mortgage Fraud Testimony
A state senate committee in New York heard testimony from victims of mortgage fraud.
read story at the Legislative Gazette
Florida Fraud Flurry
The U.S. Attorney's Office, the Federal Bureau of Investigation and the Internal Revenue planned a media blitz on mortgage fraud in Florida.
read Associated Press story
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Oct. 30, 2009
Red Flags Rule Delayed
The Federal Trade Commission announced Friday that enforcement of the Red Flags Rule has been delayed.
read story at MortgageDaily.com
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Oct. 27, 2009
Despite HVCC, Valuation Fraud to Rise
Despite the implementation of the Home Valuation Code of Conduct, a new report suggests that occurrences of fraudulent home valuations are expected to shoot up by one-quarter. The report also indicated that states with the highest risk of mortgage fraud are those states with the highest levels of foreclosures.
read full story at MortgageDaily.com
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Oct. 18, 2009
Presidential Death Threats Force Secret Service to Shift Resources from Fraud
Mortgage fraud has taken a backseat as the Secret Service shifts resources to cope with an increase in death threats following the election of Barack Obama.
read full story at the Boston Globe
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Oct. 13, 2009
Fraud Databases Explode
Just one day after Interthinx announced a nationwide mortgage fraud database, First American CoreLogic announced that its mortgage fraud repository is the biggest in the country.
read full announcement
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Oct. 12, 2009
Lenders to Share Mortgage Fraud Data
A new collaboration between Interthinx Inc. and MERS has resulted in a massive database of mortgage fraud activity that will enable mortgage lenders to identify and share data about fraudulent transactions.
read full announcement
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Oct. 1, 2009
Discounted Fraud Prevention
A fraud prevention firm promises that if its services don't identify twice as much mortgage fraud as its competitors, then lender customers will receive the service free for a limited period.
read full announcement
Income Analytics Added to Fraud Detection Tool
Risk analytics based on income verification have been integrated into a fraud prevention tool.
read full announcement
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| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| Nov. 20 |
Tyler Fitzsimons, Jeremy Kendall, Shannon Egeland, Garret Towne, Jeffrey Sprague, Shaun Little, Del Barber Jr., Robert Brink, Desert Sun Development |
OR |
$19,000,000 |
Grand jury charges. |
KTVZ.com
The Oregonian
Associated Press
Argus Observer
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| Nov. 20 |
Kevin M. O’Connell, PB Enterprises Inc., Greater Atlantic Associates Inc., |
NY |
$5,300,000 |
Guilty plea. |
The Business Review |
| Nov. 19 |
Randal Antoine |
SC |
38 closings |
Guilty plea in case where stolen identities were used to steal DPA funds. |
WMBF
TheState.com
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| Nov. 19 |
Christopher Oetting, Steven Kayden, James "Cash King" Benjamin Duncan, Hendrix Moreno Montecastro, Helen Moreno Pedrino, Maurice McLeod, Charlie Sung Muk Choi, Cindi Gayle Kelly, Thuan Nhan Du |
CA |
$19 million pocketed by 1 defendant, 249 counts, multimillion |
Charges filed. |
Newsday
The Desert Sun
Associated Press
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| Nov. 19 |
George Guldi |
NY |
$82,000,000 |
Not-guilty plea. |
Newsday |
| Nov. 19 |
Rebecca Tharpe |
NY |
na |
Conviction and order for public speaking against fraud. |
THE ASSOCIATED PRESS
Newsday
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| Nov. 19 |
Anthony Curtis Willis |
NC |
prices inflated up to $500,000 on multi transactions |
Guilty plea. |
Charlotte Observer |
| Nov. 19 |
500 suspects identified |
NV |
300 cases, many involving at least
$1,000,000 |
FBI sources quoted. |
Las Vegas Sun |
| Nov. 18 |
Mark Strodtman |
CO |
11 counts |
Conviction. |
Associated Press |
| Nov. 18 |
Thomas Preston, Redding Appraisers |
CT |
value
$2,700,000 |
Not guilty plea. |
Westport Now |
| Nov. 18 |
Freddie Young, Everett Snellenberger, Brian Gondeck, Angelo Williams |
MI |
several transactions |
Possible trial. |
Jackson News |
| Nov. 17 |
Brandon Lisi, Dustin Dente |
NY |
2 houses |
Charges in new case against 2 attorneys. |
Newsday |
| Nov. 16 |
Sharon Cox |
OH |
purchase price of
$441,000 |
1-year sentence. |
Plain Dealer |
| Nov. 16 |
Pamela Holder |
TN |
$2,400,000 |
1-year sentence. |
The Associated Press |
| Nov. 16 |
Joy Jackson, Metropolitan Money Store |
MD |
restitution of
$16,000,000 |
12-year sentence. |
The Associated Press |
| Nov. 16 |
Robert Wrolstad, Russell Todd McBride Century Mortgage and Finance Inc. |
MO |
$20,000,000 |
11-year prison sentence. |
KMOX Radio
Heartland News
KSDK
ST. LOUIS POST-DISPATCH
St. Louis Business Journal
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| Nov. 15 |
Edward William Farley, Creative Home Search, Southern Land Partners, Georgia Land Group, Global Mortgage |
GA |
losses over
$20,000,000 |
Guilty plea. |
Braselton News Today |
| Nov. 14 |
Thomas E. Stringer Sr. |
FL |
$350,000 |
No-prison sentencing. |
ST. PETERSBURG TIMES |
| Nov. 13 |
Wildor Washington Jr., Scott Alexander, 4 others |
KS |
$14,000,000 |
Guilty plea. |
The Kansas City Star |
| Nov. 13 |
Brian Scott, Gerrylene Villanueva |
PA |
6 properties, 1 for
$50,000 |
Arraigned. |
The Scranton Times Tribune |
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