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Week Ending December 2, 2011

Mortgage Fraud News

Case Activity

10-Year Sentence in $4 Million Scam
Nov. 28 -- Syed A. "Ali" Babar of New London, the 29-year-old architect of a statewide mortgage scam, was sentenced today to 10 years in prison for his role in perpetrating the $4 million fraud.
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Date Defendants State Amount of Loans Overview Source
Dec. 2 William A. Turner OH $5,600,000 Pleaded guilty. Department of Justice
Dec. 2 Robert Todd McKinney, John Quinn McKinney IL $2,500,000 Sentences: Robert sentenced to 57 months prison plus 3 years supervised release and $952,705.52 restitution; John sentenced to 57 months prison plus 3 years supervised release and $1,512,384.22 restitution. Department of Justice
Dec. 1 Debbie Sferrazza, Salvatore Sferrazza, Heather Ashurst, Whitney Bonapfel, James Ashurst, Keiron Ashurst, Tabatha Sturgill OH Multi-million dollar scheme Sentences: Debbie sentenced to 46 months prison plus 3 years supervised release and $384,537 restitution; Salvatore sentenced to 3 years probation plus 10 months home confinement and $71,709.80 restitution; Bonapfel previously sentenced to 2 years probation; Heather previously sentenced to 2 years probation and $99,406.96 restitution; James previously sentenced to 1 day in jail plus 3 years supervised release and $99,406.96 restitution; Keiron previously sentenced to 12 months 1 day prison plus $138,500 restitution; Sturgill previously sentenced to 12 months 1 day prison plus $384,537.18 restitution. Department of Justice
Dec. 1 Magdalena Salas, Angelina Mireles, Julissa Garcia CA Multiple properties Arrested. California Attorney General
Nov. 30 Justin J. Christenson MN $10,000,000 Real Estate License revoked, fined $50,000. State of Minnesota Department of Commerce
Nov. 29 Christian Tudorof CT $4,000,000 Sentenced to 18 months prison plus 3 years supervised release. Department of Justice
Nov. 28 Robert C. Sasser SC $2,500,000 Sentenced to 3 years prison plus $1.6 million in restitution. Wachovia Mortgage Corporation a victim lender. Department of Justice
Nov. 28 Syed A. "Ali" Babar CT $4,750,000 Sentenced to 10 years prison plus 3 years supervised release and $4,749,024.76 in restitution. Department of Justice

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