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Week Ending Dec. 25, 2009

 

Mortgage Fraud News

Case Activity

Dec. 16, 2009


Credit Union Sues For Fraud Coverage
Educational Systems Federal Credit Union filed a lawsuit in U.S. District Court for the District of Maryland to determine that fraud losses it suffered were covered by a CUNA Mutual bond.
read story at Credit Union Times
Dec. 15, 2009


Foreclosure Scams Use Mortgage Fraud
In a typical foreclosure rescue scheme, delinquent borrowers are advised to convey title to an investor located by the foreclosure rescue firm. But instead of rescuing the borrowers, the firms line up fake borrowers with fraudulent documentation and extract all available equity -- leaving the borrowers still facing foreclosure. A federal and state initiative has been launched to stop such schemes.
read story at MortgageDaily.com
Dec. 3, 2009


MD County Tackles Fraud
Representatives from the Prince George's County state's attorney's office pledged more effort to combat mortgage fraud.
read story from Gazette.net
Dec. 1, 2009


Fraud Prevention Service Links to SSA
A California fraud prevention firm is touting its status as one of the first enrolled companies in a Social Security Administration program.
read full announcement

DOJ Solifies NC Partnership
The U.S. Attorney's Office for the Western District of North Carolina said the Obama administration's Interagency Financial Fraud Enforcement Task Force formalizes the partnerships it already had with states.
read story at Charlotte Observer

Miami Fraud Task Force Busy
The Miami-Dade Mortgage Fraud Task Force has made more than 175 arrests and opened an additional 780 investigations.
read story at HeraldTribune.com

Nov. 27, 2009


CA's Central Valley Mortgage Fraud Hot Spot
Federal mortgage fraud indictments in California's central region were 50 last year and totaled 30 over the past 12 months -- with each case resulting in losses of $1 million to more than $5 million.
read full story from Business Journal
Nov. 24, 2009


Feds Attack AZ Fraud
U.S. Attorney Dennis Burke has obtained approval to hire three attorneys who will focus on Arizona mortgage fraud cases.
read story from The Arizona Republic

Federal, State Officials Meet on NV Fraud
U.S. Sen. Harry Reid, Federal Trade Commission Chairman Jon Leibowitz and Nevada Attorney General Catherine Cortez Masto were among officials at a mortgage fraud event in Las Vegas.
read story from Associated Press
Nov. 23, 2009


Appraiser Wears FBI Wire

A Kansas City appraiser talks about how he wore a hidden microphone to help bust a huge mortgage-fraud scheme.
read story at KansasCity.com
Nov. 17, 2009


South Chicago Condos Stung Hard by Mortgage Fraud
On the South Side of Chicago, mortgage fraud hit condominium communities especially hard.
listen to full story from WBEC

FBI Warns of Fraud During Foreclosure Process
The FBI's Detroit offices sent representatives to speak to agents at Michigan Re/Max about mortgage fraud during the foreclosure process.
read full story from Daily Press & Argus
Nov. 16, 2009


US AG Reports Huge Rise in Fraud Cases
U.S. Attorney General Eric Holder reported that the Federal Bureau of Investigation is currently investigating 2,400 mortgage fraud cases -- a 400 percent increase from five years ago.
read full DOJ announcement
Nov. 4, 2009


Over 100 Florida Arrests
The crackdown in Florida resulted in more than 100 arrests alreade.
read story from CFNews13.com
Nov. 3, 2009


NY Senate Hears Mortgage Fraud Testimony
A state senate committee in New York heard testimony from victims of mortgage fraud.
read story at the Legislative Gazette


Florida Fraud Flurry
The U.S. Attorney's Office, the Federal Bureau of Investigation and the Internal Revenue planned a media blitz on mortgage fraud in Florida.
read Associated Press story
Date Defendants State Amount Overview News
Publication
Dec. 24 Dustin Dente, Brandon Lisi NY $3,900,000 Attorneys charged. TimeLedger
Dec. 22 Aaron C. Simmons (& 9 others including lawyers, builders, a real estate agent, a loan officer, a paralegal and a notary public) NC prices inflated by $200,000 to $500,000 Guilty plea in "Waxhouse Investigation." Charlotte Observer
Dec. 22 David Sobol, Alla Sobol, Vladislav Baydovskiy, Donata Baydovskiy, Camie Byron, Sandra Thorpe, Viktor Kobzar, WA $47,000,000 2-year sentenses. Issaquah Press

PNWLocalNews.com

Dec. 22 William E. McKanry (father), William C. McKanry (son), Paula Enders MO sales prices of $2.7 million 27-month sentence. KSDK
Dec. 22 Joshua Brown, Brian Frank, John Sweetland, Brian Arrington, Linda Defeo, Bruce Namenson MA more than $2 million in proceeds Indictments. Associated Press

The Patriot Ledger

Dec. 22 Brian Frank MA na Arrest. Observer-Dispatch
Dec. 21 James Merritt Eaton, Brian Chandler Eaton, Michael John Bell, Daniel Sadek CA 15 appraisals inflated Charges against appraiser. OC Weekly
Dec. 21 Patricia Morgen CA losses of $8,439,086 Guilty plea. 7thSpace

Associated Press

Dec. 20 Robert J. McCully III, PA single loan Guilty plea. First Franklin Financial defrauded. The Tribune-Review

Dec. 19 Gail L. Mendez WI $3,300,000 Indicted tax preparer arrested. The Associated Press

Wisconsin RealEstateRama

Dec. 19 Leon Gelfgatt MA $1.3 million retrieved Attorney pleads guilty The Daily Item

Boston Herald


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