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Fraud
Stories
From
Patrick
Crowley
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Fraud
News Wire
| Last Updated |
Tuesday,
December 22, 2006, |
04:49
PM |
Texas
Time |
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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
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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
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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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