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Fraud
Stories
From
Patrick
Crowley

Fraud News Wire

Last Updated Tuesday, December 22, 2006, 04:49 PM Texas Time


Legislator Accused of Foreclosure Fraud

The Maryland Attorney General is looking into claims that a state legislator duped a woman into selling her home to him.

In a lawsuit filed in Anne Arundel County Circuit Court, Teresa Milligan accuses Maryland State Delegate William "Tony" McConkey, a Republican and a real estate broker, of foreclosure rescue fraud.

McConkey has denied Milligan's claims that he somehow tricked Milligan into singing over her house to him.

Kevin Enright, a spokesman for Maryland Attorney General J. Joseph Curran, confirmed to MortgageDaily.com that the attorney general's office is "looking into the matter."

MortgageDaily.com subscribers read Patrick's full story




Armed & Dangerous

A former mortgage executive who is under indictment for selling the same loans multiple times on the secondary market escaped when federal agents tried to nab him.

Edward Batayeh, who is also known as Ed Bhataybh, has been indicted by a federal grand jury in Oakland on charges of masterminding a $13 million fraud that included reselling loans multiple times.

But when federal agents tried to apprehend him on Nov. 17, he fled in a 2003 BMW X3 with the California license plate 5ETZ317.

"Defendant is a fugitive and should be considered armed and dangerous," the U.S. Attorney for the Northern District of California said in a statement.

MortgageDaily.com subscribers read Patrick's full story

December 22, 2006

Revised SARs Reduces Duplication
Suspicious Activity Report format revised to support joint filing and reduce duplicate SARs.




Flipping Lands Man 38 Months
James McMullen, the last of three men who pleaded guilty to cheating lenders out of more than $1 million in a flipping scheme of homes in up-and-coming neighborhoods, was ordered to serve 38 months in prison.

read story from the St. Louis Post-Dispatch.




Guilty Plea in Flipping Scam
An individual pleaded guilty to being involved in a complex "house-flipping" scam that prosecutors indicate Citywide Mortgage played a leading role in by approving loans with inflated values and false documentation.

read story from the Times-Picayune.




Fraudster to Serve 24 Years
Charles E. Hall Sr., who worked as a loan officer at Guaranty Residential Lending, was sentenced to more than 24 years in prison for bilking lenders out of about $5 million through loans made on homes with inflated appraisals.

read story from the Washington Post .




December 22, 2006

Bulky Pockets Reveal Mortgage Scheme
Don A. White told airport security the bulges in his pants pockets were prayer books, but upon his arrest after an attempted escape, officials found $70,000 in cash in his pockets that he said was obtained through mortgages with inflated property appraisals.

read story from KSHB-TV.




December 20, 2006

Fraud-Fighting System Enhanced
Ciercus Systems announces important enhancement to settlement pro mortgage fraud system.




Man Faces 11 Years
Tariq F. Hamad, who admitted to preparing fraudulent loan applications that included false income, appraisals and property photographs, may be imprisoned for over a decade.

read story from the Detroit News.




Lawyer Seeks Dismissal of Fraud Charges
The attorney representing Michael A. Nufer, who is accused of forging his ex-wife's signature on a mortgage, requested for such charges to be dismissed because the state inappropriately switched the special prosecutor appointed to investigate the allegations without having a court remove the first one

read story from the News-Sentinnel.




Officer Released on $1M Bond
Police officer Alex Gonzalo, who is accused of helping a couple commit mortgage fraud, was released on a $1 million bond after a judge said there was not a reason to believe he was a danger to the community.

read story from WINK News.




December 19, 2006

Community Bank Combats E-Payment Fraud
Brandon L. Baum, a real estate agent, Gayle L. Caldwell, owner of Access Marketing Services Inc. and wife of Charles Caldwell, a mortgage broker with United Lending of Oklahoma City; and seven others have been charged with engaging in a scheme in which the sales prices of homes were inflated and false loan applications were submitted to personally benefit from extra loan proceeds.




10 Named in Mortgage Scheme
Brandon L. Baum, a real estate agent, Gayle L. Caldwell, owner of Access Marketing Services Inc. and wife of Charles Caldwell, a mortgage broker with United Lending of Oklahoma City; and seven others have been charged with engaging in a scheme in which the sales prices of homes were inflated and false loan applications were submitted to personally benefit from extra loan proceeds.

read story from the Edmond Sun.




Ex-Weatherman, Future Restaurateur Awaits Sentence
After admitting to mortgage fraud, former WTVC meteorologist Neal Pascal was worried about what people might think but said people have been very supportive and, although he awaits for his sentence date, he also looks forward to opening a restaurant with his wife.

read story from WCRB-TV.




Couple Gets 6 for Fraud
Samantha Johnson was sentenced to 5 years in prison and her husband, Scott Johnson, received a 1-year prison term after admitting to charges involving failure to report loan proceeds from mortgages obtained through phony documents.

read story from the Miami Herald.




Countrywide Ex-Worker Tied to Fraud
Kourosh Partow, the seventh person linked to an alleged mortgage fraud ring that profited about $0.8 million, was charged with falsifying loan documents while serving as a manager and loan officer at branches of Countrywide Home Loans and American Home Mortgage.

read story from the Anchorage Daily News.




Woman Sentenced for Forged Signatures
Kelly L. Abercrombie received a 15-month sentence to federal prison for admitting to forging signatures on counterfeit appraisals to help five other co-defendants, who also have pleaded guilty, defraud a lender on 30 properties.

read story from the Bradenton Herald.




Appraiser Sentenced 2 Years
Phillip D. Thomas, who admitted to providing 75 false appraisals that defrauded lenders, must serve a 2-year term and pay $6.3 million in restitution.

read story from the San Francisco Examiner.




Broker, Foreigner Charged with Fraud
Anthony Capsouto, a Nevada mortgage broker, and Muhammed Sekertekin, a Turkish national in the United States illegally, were arrested after a camera recorded a loan closing in which the suspects were arranging to inflate the value of a home by $210,000 and funnel this money to a corporation of Sekertekin.

read story from Tampa Bay's 10.




Mother, Son Admit Fraud
Doris J. Taylor, a real estate broker, and her son Eric Taylor face 10 years and 15 years, respectively, after pleading guilty to charges involving the submission of fraudulent loan applications, including false employment and income information, to lenders.

read story from the Kansas City Business Journal .





 


read archived blog entries

  Patrick Crowley is fraud journalist for MortgageDaily.com and a reporter and columnist for The Cincinnati Enquirer.

Email Patrick at: PatCrowley@FraudBlogger.com
 
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