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Week Ending Nov. 27, 2009


Mortgage Fraud News

Case Activity

Dec. 1, 2009

Fraud Prevention Service Links to SSA
A California fraud prevention firm is touting its status as one of the first enrolled companies in a Social Security Administration program.
read full announcement
Nov. 27, 2009

CA's Central Valley Mortgage Fraud Hot Spot
Federal mortgage fraud indictments in California's central region were 50 last year and totaled 30 over the past 12 months -- with each case resulting in losses of $1 million to more than $5 million.
read full story from Business Journal
Nov. 24, 2009

Feds Attack AZ Fraud
U.S. Attorney Dennis Burke has obtained approval to hire three attorneys who will focus on Arizona mortgage fraud cases.
read story from The Arizona Republic

Federal, State Officials Meet on NV Fraud
U.S. Sen. Harry Reid, Federal Trade Commission Chairman Jon Leibowitz and Nevada Attorney General Catherine Cortez Masto were among officials at a mortgage fraud event in Las Vegas.
read story from Associated Press
Nov. 23, 2009

Appraiser Wears FBI Wire

A Kansas City appraiser talks about how he wore a hidden microphone to help bust a huge mortgage-fraud scheme.
read story at KansasCity.com
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
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
Nov. 4, 2009

Over 100 Florida Arrests
The crackdown in Florida resulted in more than 100 arrests alreade.
read story from CFNews13.com
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
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
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
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
Date Defendants State Amount Overview News
Nov. 27 Mark Ashmore, Luke Reimer, Christopher Dicugno, Equity Solutions Northwest, Remarkable Properties LLC WA multiple properties, some for millions Charges unsealed. Seattle Post Intelligencer
Nov. 25 Ivy Woolf-Turk, Michael Hershkowitz NY $27,000,000 5-year sentence. LawFuel.com

The Oregonian

Nov. 25 Lee Howlett OR $3,700,000 3.5-year sentence. Associated Press
Nov. 24 Brandon Azadegan AZ 4 properties involved 18-month sentence. Case No. CR-08-00612-PHX-NVW Arizona RealEstateRama
Nov. 24 na NY $1,000,000 Victim story. The Brooklyn Link
Nov. 24 William T. McMahan TN home sale prices of $30,000,000 6.5-year sentence. Shelbyville Times-Gazette
Nov. 24 Garry Souffrant, Yvonne Souffrant FL $7,000,000 Pastor, wife convicted. The Associated Press
Nov. 24 Wayne Marlon Benedic Lezama VA $3,000,000 Guilty plea. The Virginian-Pilot

Associated Press

Daily Press

Nov. 23 David Crisp CA $11,000,000 Banned from industry. Associated Press
Nov. 23 Pak Tim Lui, Pak Yan Lui, Pak Hor Lui, Keng Ming Wong, Pak Chang Lui, Ken Lam OH around 56 homes involved Pre-trial hearnings. examiner.com

The Plain Dealer

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

Nov. 20 Kevin M. O'Connell, PB Enterprises Inc., Greater Atlantic Associates Inc., NY $5,300,000 Guilty plea. The Business Review

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