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Fraud
Stories
From
Patrick
Crowley

Fraud News Wire

Last Updated Friday, December 29, 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 29, 2006

Fraud "Expert" Hosts Teleseminar Series
Ralph Roberts offers free advice and prevention tips in "Victims of Real Estate and Mortgage Fraud"




3 Accused of Mortgage Fraud
James C. Hardison has been added as a suspect collaborating with Willie Collins and Marilyn Rainey in an alleged scam in which identities were stolen to facilitate two fraudulent loan closings on a property.

read story from WHAS 11.




December 28, 2006

Two Arrested in ID Theft Scam
Through false identification, Marilyn Rainey allegedly sold a home that wasn't hers but when trying to cash a check from the proceeds, her and a confederate, Willie Collins, were arrested at a BB&T branch.

read story from Wave 3.




Appraisers Face Fines, License Loss
James Esters and Albert Fajt, who are accused of inflating the values on a total of 20 properties, could respectively pay record fines of $24,000 and $56,600, as well as revocation of their Colorado appraisal licenses.

read story from Pueblo Chieftain.




Couple Unknowingly Acquires Deep Debt
Forming part of the mortgage fraud epidemic, a couple residing in Wyoming owe about $2 million in mortgages for properties in Texas that they never signed for and first learned about this through Fidelity Bank.

read story from WFAA-TV.




December 27, 2006

Mortgage Fraud Shifting to Crime Groups
FBI statistics show mortgage fraud is rising and that the trend is shifting from individual perpetrators to members of organized crime, such as gangs.

read story from Realty Times.




MN Behind on Fighting Fraud
Data supplied by the Minnesota Department of Commerce indicated the agency is understaffed and is struggling to catch up in regulating the mortgage industry.

read story from the Pioneer Press.




Fraud Supsect Fights Charges
Terry Faulkner, who was arrested at his home last November for alleged mortgage fraud that involved a bogus company named Reliable Rehab, is falsely being portrayed as a gang member and drug dealer, said his attorney, who allegedly processed fake applications for loans.

read story from CBS2.




December 26, 2006

Christmas Spirit Combats Scam Effects
After the Boston Herald published a story about families facing foreclosure due to an alleged Hub mortgage scam, readers offered to buy Christmas dinner, a yuletide tree or other holiday cheer and give donations to help ease woes.

read story from the Boston Herald .




Attorney Admits Fraud
John M. Claydon Jr., 57, a closing attorney accused of charges involving using People's Bank refinance loan proceeds for his own use rather than to pay old mortgage, admitted to bank fraud.

read story from the Advocate.






 


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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