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PRESS RELEASE


Mortgage Fraud Task Force Busts Kick-Back Scheme

Penn. Man Pleads Guilty


 
Pittsburgh, Penn. (Sept. 26, 2008) United States Attorney Mary Beth Buchanan announced today, September 26, 2008, that Kevin Kamenski, a resident of Chicora, Pennsylvania, pleaded guilty in federal court to a charge of Wire Fraud Conspiracy.

Kamenski, age 37, pleaded guilty to one count before Chief United States District Judge Donetta Ambrose.

In connection with the guilty plea, Assistant United States Attorney Brendan T. Conway advised the court that Kamenski participated in a mortgage fraud conspiracy in which he sold properties to buyers at inflated prices, and kicked back a portion of the sales price to the buyer and other participants in the conspiracy. Other members of the conspiracy would submit fraudulent loan applications on behalf of the buyers, along with fraudulent documents to support the applications and the sales prices including W-2s and pay stubs that overstated the income of the buyer and appraisals that overstated the values of the properties.

Judge Ambrose scheduled sentencing for December 18, 2008. The law provides for a total sentence of twenty years in prison, a fine of $250,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the criminal history, if any, of the defendant.

The Mortgage Fraud Task Force conducted the investigation that led to the prosecution of Kamenski. The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry. Federal law enforcement agencies participating in the Mortgage Task Force include the Federal Bureau of Investigation; the Internal Revenue Service, Criminal Investigations; the United States Department of Housing and Urban Development, Office of Inspector General; the United States Postal Inspection Service; and the United States Secret Service. Other Mortgage Fraud Task Force members include the Allegheny County Sheriff's Office; the Pennsylvania Attorney General's Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee's Office.

Mortgage industry members with knowledge of fraudulent activity are encouraged to call the Mortgage Fraud Task Force at (412) 894-7550. Consumers are encouraged to report suspected mortgage fraud by calling the Pennsylvania Attorney General's Consumer Protection Hotline at (800) 441-2555.


SOURCE: United States Attorney's Office
Western District of Pennsylvania

 
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