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Mortgage Fraud Archives

Week Ending November 30, 2012

Mortgage Fraud News

Case Activity

Guilty Plea in Case Involving 250 Fraudulent Mortgage Apps
Nov. 30 -- A Glendale, Calif., man pleaded guilty on Thursday to running three separate scams, including a Ponzi scheme that defrauded 30 families out of more than $8 million.
read full story at Mortgage Daily

Appraisal Fraud Risk Leads Overall Risk Lower
Nov. 26 -- With the risk of valuation fraud leading the way, the overall risk of mortgage fraud was lower in the third quarter. Communities in California and Florida continue to dominate the most risky areas. The correlation between a high risk of fraud and a high foreclosure rate is diminishing.
read full story at Mortgage Daily
(subscription required)

Date Defendants State Amount of Loans Overview Source
Nov. 30 Michael G. Bouchard, Malissa Edgerton, Laurie Hinds NY $4,900,000 Bouchard convicted on 4 counts, acquitted on 20 counts. Edgerton and Hinds pled guilty.
Nov. 30 Teresa Jean Whitten MO $5,000,000 Indicted. Department of Justice
Nov. 29 LaShawn K. Ford IL $832,000 forfeiture Indicted. Department of Justice
Nov. 29 Antoinette Payne OH $1,300,000 Sentenced to 27 months. Department of Justice
Nov. 29 Michele Marie Mitchell, Jeremy West Pratt AZ $17,000,000 Mitchell sentenced to 30 months. Department of Justice
Nov. 29 Alexander Sivels, II MD $1,000,000 in losses Pled guilty. Department of Justice
Nov. 28 Frederick "Freddie" Grippo NJ $4,400,000 Pled guilty. Department of Justice
Nov. 28 Kaveh Vahedi CA Multiple properties Pled guilty. Department of Justice
Nov. 27 Kenneth Law FL $102,000,000 Sentence reduced.
Nov. 26 Bruno Skoczynoski, Richard Cartagena, Neil Ferrigno FL $6,000,000 in restitution Skoczynoski sentenced to 2 years. Department of Justice
Nov. 26 Scott J. Schuhriemen, R. Craig Adams, Rich Bobka FL Multiple properties. BB&T a victim lender. Schuhriemen pled guilty.
Nov. 26 Derwin Frazier, Veronica Frazier, Brenda East, Duane Wardell TX $16,637,844 in restitution Derwin sentenced to 85 months, Veronica sentenced to 1 year and 1 day. Department of Justice
Nov. 26 Mario Giannandrea, Aaron Teachout, Isaac Modert, Eric Williams, Dennis Sare, Rick Artibee, Nichole Buda MI $2,500,000 in losses. Giannandrea pled guilty. Department of Justice

archived case entries back to 2005

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Red Flags Rule
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