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December 14, 2007
Second Of Three Sentenced For Fraud
Ricky Hamilton was sentenced to one year in prison and ordered to pay $144,234 in restitution by a
Missouri Federal Court for his part in former Kansas City councilwoman Sandra McFadden's mortgage
fraud scheme.
read story from The Kansas City Business Journal
Utah Mortgage Fraud Problems Grow
Blake Heiner, vice president and regional counsel for First American Title Insurance Co. cites the
availability of acquiring on-line mortgages and lax lending practices as part of the reason real
estate related fraud has become so pervasive in Utah.
read story from The Desert Morning News
December 13, 2007
15 Charged In Chicago Straw Buyer Scam
Fifteen people, led by Durrel Castile and Andrew Lewis Jr., have been charged in a $14 million mortgage
fraud scam that involved nine Chicago area properties.
read story from The Sun Times
Two Groups Launch Predatory Lending Prevention Effort
Congress Against Racism and Corruption in Law Enforcement (CARCLE) and National Judicial Conduct and
Disability Law Project, Inc. (NJCDLP) have announced their new public awareness campaign designed to
educate the general public about detection and prevention of predatory lending.
read story from PRweb
Court Vacates Mortgage Fraud Sentence For Colorado Man
The U.S. District Court of Colorado Has ruled that James Galloway's sentence for obtaining mortgages for
unqualified applicants by fraudulent methods must be re-evaluated because his personal gains of $122,990
from the transactions may not have resulted in actual losses to the lenders involved.
read story from The Journal Record
Woman Defrauds Lender To Pay For Murder Defense
Jean Garcia was arrested and charged with lying on two loan applications to fraudulently refinance her home
in order to obtain $778,000 used to pay for her husband's legal costs after he was convicted in a Sacramento,
CA. court for first-degree murder.
read story from The SFGate
Sentence For Fraud Pending In McFadden Case
Former Kansas City Councilwoman Saundra McFadden will be sentenced December 28 for her August conviction
where she was found guilty for signing mortgage documents that obligated her to reside in the home being
financed. McFadden allowed a third party to live in the house and take over the mortgage payments, which
were not made, resulting in foreclosure.
read story from The Kansas City Star
December 12, 2007
Verification Bureau Speeds Up Fight Against Fraud
In the fraud riddled mortgage market, weary lenders can now turn to Miami based Verification Bureau,
a leading background screening and information verification service provider, which has announced faster
turn around times and updated technologies.
Utah Mortgage Fraud Task Force Arrests Six
A scam that inflated the property values of 20 to 30 targeted homes has resulted in the increased valuations
of 550 other area properties. Now, Bradley Kitchen, David Bolick, Steve Cloward, Ron Clark, Jeffery Garrett
and Rebecca Hadlock are facing up to 20 years in jail and paying back millions in restitution for operating
the scheme.
read story from The Herald Extra
Michigan Woman's Identity Stolen Along With House
Artemia Maldonado needed to sell her Grand Rapids home due to a family emergency, so she turned to Adriana
Salazar for help. Later, she discovered that Salazar never sold her home, rather, refinanced it using Maldonado's
name, as well as purchasing another property.
read story from WoodTV.com
December 11, 2007
Capital Area Fraud Cost $1 Million In Losses
George A. Cowser has been sentenced to nearly six years for a real estate fraud scheme where he
transferred and sold Washington D.C. properties he did not own using fraudulent deeds, costing
home owners and lenders over $1 million in losses.
Foreclosure Rescue Scam Cost Home Owners $20 Million In Losses
In an indictment filed in Manhattan federal court, Maurice McDowall, Andrea Moore, Aleksander Lipkin,
Marina Dubin, Kerri Clark, and Michael Irving have been charged with committing fraud by luring home
owners facing foreclosure into signing over their properties and paying a large fee after being promised
that they would qualify for a plan to save their houses. The properties were then sold to unknowing third parties.
California City Sees Growing Trend In Fraud Cases
After receiving 56 complaints in all of last year, and already 46 by June of this year, Modesto city officials are cracking down on mortgage fraud in their district, which tends to target immigrants and leaves whole
neighborhoods vacant in it's wake.
read story from The Christian Science Monitor
December 10, 2007
Intersections Inc. Announces Upgrade To Identity Guard
Subscribers to the identity theft prevention service IDENTITY GUARD will now receive ZoneAlarm,
a powerful security software suite that scans the internet for indications of compromised financial
information and provides up to $20,000 in identity theft insurance.
Investigation Of Brokerage Leads To Arrests
Donald L. Walthall and Rahmeen D. Underwood have been arrested in an ongoing mortgage fraud investigation
of a Kansas City based brokerage company. Federal officials say that employees of Universal Mortgage Inc.
bilked lenders out of tens of millions of dollars.
read story from The Star Tribune
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