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December 28, 2007
Man Sentenced For Fraud Ring Connection
Mario Augustin Lewis pleaded guilty in a Minneapolis court for his involvement in a mortgage fraud
scheme involving Ronald Joseph, Jill Lehn, and Isadore Stewart, all who have been charged with creating
bad loans totaling approximately $18 million.
read story from The Prior Lake American
December 27, 2007
Appraiser Charged With Involvement In Fraud Ring
Jon Schwinkendorf, an appraiser, and his sister Susan Bigley, who worked with him, have been charged
with six counts of grand theft for their rolls in an Ohio fraud ring involving 16 other people who are
also facing charges, for a scheme that preyed on more than 500 people.
read story from Port Clinton News Herald
December 26, 2007
FBI Report Points To Eroding Fraud Prevention Ability
According to FBI statistics, banks have filed 47,717 reports of suspected mortgage fraud this year, up from
21,994 in 2005, and a drastic rise from 2002 when only 5,623 cases were reported. One official states that
there are too many instances of fraud to investigate, and not enough agents to look into them.
read story from The New York Times
December 24, 2007
Former Mortgage Broker Admits To Theft
Kimberly M. Davis, a former mortgage broker for a Missouri firm admitted in court to stealing the
identities of several people in order to purchase 3 properties totaling more than $1 million in
fraudulent loans.
300 Properties Involved In Scam
Hundreds of home buyers in Ohio fell victim to fraudulent mortgages in a scheme involving 17 suspects
led by David Willan, president of Evergreen Homes, which allegedly bilked it's customers out of more
than $6 million.
read story from WKYC
Loan Officer Sentenced To 18 Months For ID Theft
Former loan officer Juanita Booker was sentenced in a Seattle District Court on chrages of conspiracy
to commit identity theft for supplying personal and financial information of at least 16 people to
fraud ring leader Charles W. Griffin.
read story from SeattlePI.com
New Jersey Man Admits To Mortgage Forgery
Frank Corallo, a former broker, pleaded guilty to forging signatures on mortgage documents totaling more
than $1 million in bad loans and losses to lenders.
read story from NewsDay
Fraud Increases Exponentially
Lax lending policies and the ease of acquiring funding for home loans are the primary reason white-collar
criminals have been able to ravage the mortgage industry, reflected by the 1,210 active fraud cases being
processed by the FBI this year, dramatically up from 436 active investigations in 2003.
read story from The Wall Street Journal
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