Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1324
Posts / Week:3.6
Archived Since:March 20, 2008

Blog Post Archive

Lender Agrees to Pay $3.8M to Resolve Bank Loan Liability

Mortgage Fraud Blog. Hencorp Becstone Capital L.C., Miami, Florida, has agreed to pay $3.8 million to resolve allegations under the False Claims Act that it made false statements and claims to the Export-Import Bank of the United States...Show More Summary

3 Arrested for Conspiracy Involving $6.7M in Fraudulent Loans

Mortgage Fraud Blog. Ray M. Mubarak, 54, Knoxville, Tennessee, Dianna Mubarak, 52, Knoxville, and Blythe Bond Sanders, III, 35, Norris, Tennessee, were arrested by federal agents for allegedly participated in a bank fraud conspiracy involving fraudulent loans exceeding $6.7 million. Show More Summary

Man Admits Swindling Thousands in Fake Mortgage Assistance Scheme

Mortgage Fraud Blog. Anthony Carta, 53, Detroit, Michigan, has pleaded guilty to seven felonies associated with his formation of a faith-based mortgage assistance scam. Carta defrauded more than 100 victims out of thousands of dollars. ...Show More Summary

Former Bank Manager Admits Stealing Identities to Create Bogus Loans

Mortgage Fraud Blog. Linda Sue Newcomb, 63, Madison Heights, Virginia, who was the former manager of the Lynrocten Federal Credit Union, pled guilty in United States District Court for the Western District of Virginia to embezzlement,...Show More Summary

Couple who Fled During Mortgage Fraud Investigation Admit Charges

Mortgage Fraud Blog. Aleksandr Kravchenko, 36, and Galina Kravchenko, 35, King County, Washington, who fled to Moldova, Eastern Europe, before being indicted by a federal grand jury for bank fraud related to loans fraudulently obtained from Westsound Bank, entered guilty pleas in U.S. Show More Summary

6 Charged in Loan Modification Scheme

Mortgage Fraud Blog. Six individuals have been charged with violations of federal law in what the indictment alleges was a scheme to market and sell home loan modification services to distressed homeowners trying to save their homes from foreclosure following the financial crisis of 2008. Show More Summary

Woman Charged with Submitting Fraudulent Loan Applications to Lenders

Mortgage Fraud Blog. Gabriela Carter, 43, Sacramento, California, is the subject of an eight-count grand jury indictment charging her with bank fraud for allegedly submitting fraudulent loan applications to federally insured financial institutions to obtain real estate loans that her clients were not qualified to receive. Show More Summary

Leader of Mortgage Relief Scam Receives 24 Year Prison Sentence

Mortgage Fraud Blog. Alan David Tikal, 46, the principal operator of a large-scale mortgage fraud/mortgage elimination scheme, was sentenced to 24 years in prison. In September 2014, Tikal was convicted of 11 counts of mail fraud and one count of money laundering by United States District Judge Troy L. Show More Summary

Fugitive Convicted of Running Ponzi Scheme Involving Distressed Properties

Mortgage Fraud Blog. Joel Wilson, 32, Saginaw, Michigan, was convicted by a jury on nine felony charges for his role in an extensive Michigan Ponzi scheme wherein he defrauded hundreds of Michigan victims out of millions of dollars.Show More Summary

Man Sent to Prison for Short Sale Fraud Scheme

Mortgage Fraud Blog. Agustin Simon, 53, Patterson, California, was sentenced by U.S. District Judge Lawrence J. O’Neill to 15 months in prison for conspiring to commit bank fraud. Simon was convicted of submitting fraudulent short-sale applications, which caused financial institutions to approve the charge-off of funds for the short-sale of his home. Show More Summary

Jury Convicts Woman of Using Stolen ID to Obtain HELOC

Mortgage Fraud Blog. Rachel Siders, 39, Roseville, California, was convicted by a federal jury and found guilty of bank fraud, making a false loan application, and committing aggravated identity theft. Siders’ week-long trial was held before United States District Judge John A. Show More Summary

Purported Real Estate Agent / Loan Officer Sentenced for Mortgage Fraud

Mortgage Fraud Blog. Dana Faulkner, 48, Oakland, California, was sentenced by United States District Judge John A. Mendez to one year in prison for conspiring to commit mail fraud and make false statements in loan applications. In addition, Faulkner was ordered to pay over $3 million in restitution to defrauded financial institutions. Show More Summary

Woman Admits Using Fraudulent Information to Defraud Lenders

Mortgage Fraud Blog. Carolyn Marie Jones, 51, Corona, California, who was the chief executive officer of a high-end jean company that outfitted Hollywood celebrities, pleaded guilty in federal court to bank fraud and bankruptcy fraud offenses admitting she used fraudulent information to defraud lenders. Show More Summary

Mortgage Fraud Ringleader Sentenced to 8 Years in Prison

Mortgage Fraud Blog. Susanne Helbig, 50, Roanoke, Virginia, the former majority owner of a construction company who recruited a number of strawbuyers to defraud financial institutions of millions of dollars through an intricate mortgage...Show More Summary

7th Defendant Pleads Guilty to $3M Mortgage Fraud Conspiracy

Mortgage Fraud Blog. Justin Joseph Christenson, 35, who admitted conspiring with Thomas Rosensteel, Robert Scott “Rod” Aslesen, and at least four others to defraud mortgage lenders by falsifying loan applications and related documents. Show More Summary

Businessman Admits Role in $1M Short Sale Mortgage Fraud Conspiracy

Mortgage Fraud Blog. Danny Zhao, 36, Ashburn, Virginia, pleaded guilty to conspiracy to commit bank fraud admitting his role in a short sale mortgage fraud scheme. Zhao faces a maximum period of five years of imprisonment when he is sentenced on May 15, 2015. Show More Summary

Real Estate Agent Sent to Prison for Mortgage Fraud Conspiracy

Mortgage Fraud Blog. Asm Afsary, 42, Stamford, Connecticut, was sentenced today by Chief U.S. District Judge Janet C. Hall in New Haven to 36 months of imprisonment, followed by five years of supervised release, for conspiring to defraud...Show More Summary

MetLife to Pay $123.5M in Mortgage Fraud Settlement

Mortgage Fraud Blog. MetLife Home Loans LLC has agreed to pay $123.5 million to resolve accusations that its MetLife Bank unit violated the False Claims Act by knowingly originating and underwriting Federal Housing Administration-insured mortgages that did not meet applicable requirements. Show More Summary

Man Pleads Guilty to Timeshare Resale Scam

Mortgage Fraud Blog. James Currey, 55, Orlando, Florida, pled guilty to one count of conspiracy to commit mail and wire fraud in connection with a telemarketing scam wherein the defendant targeted timeshare owners and falsely promised a buyer for their properties in exchange for a fee. Show More Summary

Former Sr. VP Pleads Guilty to Misapplication of Bank Funds

Mortgage Fraud Blog. Justin T. Brough, 39, North Las Vegas, Nevada, a former senior vice president of Bank of America, Las Vegas, pleaded guilty to misapplication of bank funds in a scheme that led to over $6.4 million in losses on two loans. Show More Summary

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