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December 20, 2007|
Loan Officer Caught Pocketing Escrow Funds
Renato Gonzales Quiazon, a former loan officer for New Century Mortgage, pleaded guilty in a California
Federal court on charges that he took illegal kickbacks from homeowner's escrow accounts totaling more
HUD Losses Lead To Fraud Charges
Cesar Arenas has been charged and sentenced in an Illinois court to twenty months in prison for his part in a five person fraud ring led by Rhonda Torossian that cost the Department of Housing and Urban Development more than $330,000
read story from The Rockford Register Star
Watch Your Wallet When You Sit On Santa's Lap
Criminals are out in force this holiday season, but these days, many of them are more interested in stealing
your identity. Taking your credit card number and personal information rather than just the cash in your wallet
is the gift that keeps on giving... for them at least. One way to fend them off may be to freeze your credit
report, but make sure you finish your gift shopping first.
read story from The Olympian
December 19, 2007
FTC Targets Identity Theft
The Federal Trade Commission's Division of Privacy and Identity Protection testified before the House
Judiciary Committee's Subcommittee on Crime, Terrorism, and Homeland Security regarding it's concerns
and efforts to prevent identity theft and aid those who are victimized.
2 Convicted In New Jersey Mortgage Scam
Between 2002 and 2005 William Ottaviano and Michael Eliasof sold dozens of homes with inflated values to
under qualified buyers using falsified loan applications that cost lenders over $1 million in losses.
read story from NorthJersey.com
December 18, 2007
WaMu Employee Admits to Bribes
A former loan coordinator at Washington Mutual F.A.'s subprime unit was bribed with $100,000 in payments
from a mortgage broker to help process fraudulent loan packages. He also was paid by in-house loan
officers to fund mortgages with fraud.
read story from MortgageDaily.com
Florida Man Gets 3 Years For Appraisal Fraud
Robert W. Hulbert, manager of the Jacksonville branch of Nations Title Agency Of Florida, has been sentenced
to three years behind bars, and restitution for recruiting an appraiser to drastically inflate area home
prices totaling $17.7 million in mortgage loans, of which about $4 million landed in his own pockets.
read story from The Florida Times-Union
Suspicious Townhouse Sales Spark Fraud Probe
Mortgage broker Zak Ahmadzada and real estate agent Khalid Mirza are under investigation by an FBI probe
looking into several unusual property transactions in a Virginia subdivision of townhouses where many of
the homes sold for much higher prices than their appraisals stated they were worth, and then quickly fell
read story from The Washington Post
Task Force Gaining On Mortgage Fraud
Juan Torrens and his wife Rachell Torrens are among the 55 individuals who have been arrested since September
of this year when the U.S. Attorney's Office in South Florida launched it's Mortgage Fraud Task Force, which
has diligently been targeting crooked appraisers, bank employees, title agents, and straw buyers.
read story from CBS4
December 17, 2007
Alaska Jury Indicts 9 For Mortgage Scam
Over a three year period, Lance Lockard, Holli Stroud, Gary Paterna, Charles Carlson, Jonathan Ruf,
Keith Facer, Don Murray, Cerise Sanders, and Susan McCready defrauded 13 banks and mortgage companies
out of $1.7 million according to charges filed by an Anchorage Federal grand jury.
read story from KTUU
31 Charged In Florida Mortgage Fraud Ring
Charges against 31 people have been filed by Federal officials in a fraud involving $14 million in bad
mortgage loans on 28 Florida Properties. Juan Torrens and his wife Rachel Torrens have been accused of
being the scheme's ring leaders.
read story from The Sun Sentinel
Leader Of ID Theft Ring Sentenced
Charles W. Griffin has been sentenced by a Seattle court to pay restitution to his victims for recruiting
mortgage and escrow company employees to provide him with sensitive banking information for customers, whom
he then defrauded of approximately $335,000.
read story from The Examiner
Orman's Top 4 Tips On Identity Safety
Suzy Orman, best selling author, television host, and financial guru, gives out some sound tips and practices
on how to avoid becoming the next victim of identity theft.
read story from The Detroit Free Press
Co-Conspirator Targeted in Mortgage Fraud Probe
A federal criminal probe which has already obtained a guilty plea from Robert L. Dodsworth in a PA mortgage
fraud scam, may now be targeting Keith A. Rice, who some home buyers point to as their initial contact in the
scheme that involved some 200 properties.
read story from GoErie.com
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