Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1738
Posts / Week:4.1
Archived Since:March 20, 2008

Blog Post Archive

Property Manager Sentenced in Mortgage Fraud

Paul Watterson, 55, Mountainside, New Jersey, was sentenced to 15 months in prison for his role in a multi-million dollar mortgage fraud scheme that used phony documents and straw buyers to make illegal profits on over-developed condominiums in the Wildwood, New Jersey, area.  Watterson previously pleaded guilty to an information charging him with one count of conspiracy […]

Convoluted Transaction Results in Federal Prison Sentenced for Mortgage Brokerage Owner

Gabriela Tigges, 60, Martinez, California, was sentenced to 12 months and one day in prison, and ordered to pay a $20,000 fine and $208,186.78 in restitution, for her involvement in a bank fraud scheme related to a fraudulent mortgage loan application and a fraudulent mortgage loan modification application,  Tigges pleaded guilty on October 1, 2015, to […]

8 Year Sentence in Foreclosure Rescue Fraud

Terry Meisinger, 75, Seal Beach, California, was sentenced to 8 years in federal prison in connection with his operation of a bogus mortgage rescue scheme in which is made false promises to dozens of distressed homeowners, filed fraudulent bankruptcies to delay foreclosure and rented the properties to third parties during the bankruptcy delays. United States District […]

Phony Title Lawsuits Underlie Indictment

Robert Jacobsen, 67, formerly of Lafayette, California, was charged with wire fraud and with engaging in financial transactions involving criminally derived proceeds arising out of an alleged scheme to defraud homeowners and mortgage...Show More Summary

New York Mortgage Broker Indicted for Wire Fraud

Michael Pampalone, former mortgage broker, 32, Elizabeth, New Jersey, was arraigned on an indictment charging him with two counts of wire fraud. The indictment alleges that Pampalone stole $132,450 from an East Greenbush, New York, man who hired Pampalone to help him obtain a mortgage.  According to the indictment, Pampalone instructed the victim to wire funds to a […]

Guilty Pleas in Brazen Property Theft Scheme

Mazen Alzoubi, real estate investor, 32, Rancho Cucamonga, California, pled guilty to conspiracy, mail fraud and identity theft, admitting that he orchestrated a scheme to steal title to Southern California homes and then sell the properties to unsuspecting buyers before the true owners could put a stop to the sale. Alzoubi admitted that from May 2012 through […]

Sentence in $8M Connecticut Mortgage Fraud

Mohammed N. Islam, also known as “Tanveer,” 39, Trumbull, Connecticut, was sentenced 14 months of imprisonment, followed by three years of supervised release, for participating in a mortgage fraud scheme that involved dozens of properties in Fairfield County, Connecticut. Show More Summary

Two Indicted in Puerto Rico for Mortgage Fraud

Edgar A. Reyes-Colón and Francisco Quintero-Peña were indicted on charges of with making false statements in loan applications in scheme to obtain money from mortgage lending institutions.. The investigation revealed that as part ofShow More Summary

Prosecutors want pair in $52M mortgage fraud scheme sent back to prison

They lost their bid for a new trial in the largest mortgage fraud case in Nevada. Now federal prosecutors want a judge to order former real estate broker Eve Mazzarella and her ex-husband, Steven Grimm, returned to prison to continue serving lengthy terms behind bars while they appeal their 2011 convictions. “The ‘substantial questions’ of […]

Guilty Plea in Baltimore Row House Fraud

Cecil Sylvester Chester, 68, Mitchellville, Maryland pleaded guilty to charges arising from the fraudulent purchase of seven properties in Baltimore, Maryland, using fraudulent loan documentation and straw purchasers, resulting in losses of over $1.7 million. Show More Summary

Maryland Developer Pleads Guilty to Conspiracy in $5.7M Bank Fraud

Samuel R. VanSickle, 51, Accident, Maryland, pleaded guilty to conspiring to commit bank fraud arising from three fraudulent bank loans in which VanSickle received proceeds from the sale of real property in Garrett County, Maryland, and Cheat Lake, West Virginia, totaling over $5.7 million. Show More Summary

Final Defendant Sentenced in $5.8M Flipping Scheme

Chiedu “George” Chukwuka, 47, Stone Mountain, Georgia, was sentenced to serve nine years in prison to be followed by three years of supervised release, and ordered to pay restitution in the amount of $5,868,243.80 in connection with his lead role in a mortgage fraud ring that spanned five years and caused millions in losses.  Chukwuka, […]

Forged Reconveyances Result in Prison Sentence

Kurt Sanborn, 48, formerly of Dracut, Massachusetts, was sentenced to 27 months in prison. In May 2003, Sanborn used a private $500,000 loan to buy a home in Manchester, New Hampshire.  In exchange, the private lenders received a first mortgage on the Manchester property which was recorded at the Hillsborough County, New Hampshire, Registry of Deeds. In October […]

Settlement Attorney Sentenced

Angela M. Blythe, attorney, 52, Oakland, Maryland, was sentenced to a year and a day in prison, followed by three years of supervised release, for conspiring to commit bank fraud, bank fraud and two counts of making a false statement to a bank.  Blythe was also ordered to forfeit $696,517 and pay restitution of $948,203.25. Blythe was convicted […]

Sentencing in Foreclosure Rescue Fraud

David W. Griffin, 44, Lutz, to three years in federal prison for bankruptcy fraud and making a false statement during a bankruptcy proceeding. According to court documents, Griffin operated a foreclosure rescue scheme through his companies, Bay2Bay Area Holding, LLC and Business Development Consultants, LLC.  The purpose of the scheme was to obtain quitclaim or […]

Massachusetts Mortgage Broker Sentenced to Three Years

Michael P. O’Donnell, mortgage broker, 54, Middleton, Massachusetts, was sentenced by U.S. District Judge Douglas P. Woodlock to three years in prison, two years of supervised release and ordered to pay a fine of $150,000 in connection with his role in 20 fraudulent loan transactions in the North Shore area of Massachusetts.  In July 2015, O’Donnell […]

Cay Club Executive Convicted After Trial

Fred Davis Clark, Jr., a/k/a Dave Clark, 57, formerly of Monroe County, Florida, was convicted after a five week trial, of three counts of bank fraud, and three counts of making a false statement to a financial institution, all in connection with a $300 million fraud scheme involving the sale of vacation rental units involving […]

Six Indicted in Rhode Island Mortgage fraud

Louis Marandola, 41, attorney, Providence, Rhode Island; Brian R. McCaffrey, 38, licensed loan originator, East Greenwich, Rhode Island; Raffaele M. Marziale, 41, former loan officer, Bristol, Rhode Island; Lauren Sienko, 33, loan processor, Rehoboth, Massachusetts; Gina M. Show More Summary

42 Months in Warehouse Theft Scheme

Brady Bunte was sentenced to 42 months in prison today, by Chief District Judge Joseph H. McKinley Jr.,   and ordered to pay restitution in the amount of $10,689,587 for devising a scheme to defraud National City Bank of $12,744,678 of money under its control, by submitting fraudulent funding requests for nonexistent mortgage loans. In 2007 […]

Title Company Owner Charged in Escrow Diversion

Anthony R. Angelo, 69, Philadelphia Pennsylvania, was charged  by Information with wire fraud and bank fraud. The Information alleges that Angelo was the owner of Aracor Search & Abstract Services, Inc., a title company that provided...Show More Summary

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