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December 26, 2008
High Profile Trial Holdup
A prominent mortgage fraud case that involves JP Morgan Chase Bank has been delayed as a U.S District judge calls for an attempt at a settlement.
Presidential Pardon Revoked for Fraudster
President Bush this week reneged his proposed act of clemency for a 37-year-old man who pleaded guilty to charges relating to mortgage fraud.
December 24, 2008
Cop’s Fraud Conspirators Sentenced
While the sentencing for a former Indiana cop guilty of mortgage fraud has been delayed, two others have been sentenced for their part.
December 23, 2008
$1 Million Fraud Bilks Several Lenders
A Georgia woman charged with two counts of wire fraud for allegedly defrauding several mortgage funding companies was arrested Dec. 16. If convicted, she faces a maximum of 20 years in federal prison, a $250,000 fine and up to six years supervised release.
Officials Question Fraud Detection Process
High levels of foreclosure in parts of Michigan have prompted law officials to question the policies and procedures currently in place to detect mortgage fraud that may have led to the increase.
Guilty Plea in $11 Million Fraud
A California man pleaded guilty to defrauding mortgage lenders by helping unqualified borrowers obtain loans.
Man Allegedly Cons Sisters
A man in Florida claiming to be a licensed financial advisor and real estate broker allegedly convinced two sisters in that he could help them with one’s refinance and the other to purchase and re-sell a home for profit, but was systematically stealing money from them in the process. Neither sister knew the other was working with the same man until it was too late.
Family Business in Question
Charges have been filed against a prominent Florida family and three others in connection to a multimillion-dollar mortgage and real estate property fraud scheme.
December 22, 2008
Metropolitan Money Store Scheme
While offering to help repair credit scores and save homeowners from foreclosure, employees at Metropolitan Money Store in Maryland were stripping equity and committing mortgage fraud. Here are the official details.
Pastor Conducted RE Seminars
As more details emerge from a scandal rocking Denver, it’s revealed that a pastor accused of mortgage fraud recruited unwitting straw buyers through real estate investment seminars.
One Man, Two Fraud Trials
A builder and his accomplices were just convicted on federal charges in a $5 million mortgage fraud scheme. He faces another federal court jury for also organizing a $25 million fraud scheme involving conspiracy, bank fraud and money laundering.
WAMU Loses to Straw Buyer
A straw buyer, with the help of others, rapidly bought 20 properties in Pennsylvania with false information on her loan applications, bilking $400,000 from Washington Mutual and other lenders.
Accused Cries Abused
A couple accused of running a multi-million dollar mortgage fraud scheme preyed on the Greek community in New Jersey. The woman claims her participation was influenced by her abusive boyfriend.
Broker, Closing Agent Sentenced
A mortgage broker who also played the role of closing agent was sentenced for his participation in a $1.2 million scam in Florida.
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