Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1787
Posts / Week:4.1
Archived Since:March 20, 2008

Blog Post Archive

Escrow Fraud Sentencing in Tennessee

Garry Christopher Forsythe, 42, Hendersonville, Tennessee, was sentenced to 33 months in prison to be followed by two years of supervised release and ordered to pay $2,249,294.80 in restitution and to forfeit the proceeds of his crime. Forysthe pleaded guilty to one count of wire fraud in December 2015 in connection with a scheme involving escrow funds held by […]

Prison Sentence For Advance Fees to Distressed Homeowners

Ligia Sandoval Spafford (Sandoval), 48, Roseville, California, was sentenced  by U.S. District Judge Troy L. Nunley to two years and three months in prison for a scheme to defraud distressed homeowners Sandoval was ordered to self-surrender on June 9, 2016. Sandoval paid $115,065.00 in restitution, the full amount of restitution ordered by the Court, to compensate […]

Real Estate Agent Sentenced for Concealed Incentives

Joseph Pasquale, 39, Worcester, Massachusetts, to four years and nine months in federal prison for conspiracy to commit bank fraud and bank fraud. A federal jury found him guilty in January 2016. According to testimony and evidence presented at trial, Pasquale worked as a real estate sales associate for a brokerage based in Cape Coral, Massachusetts. […]

Five Men Plead Guilty in Loan Modification Scam

Roscoe Umali, 38, Los Angeles, California; Jefferson Maniscan, 34, Los Angeles, California; Raymund Dacanay, 47, Los Angeles, California; Isaac Perez, 33, Los Angeles, California; and Joshua Johnson, 36, Los Angeles, California;  pleaded...Show More Summary

Tax Evasion Plea in Mortgage Elimination Scheme

Amaziah Yahalom, who also goes by Andre C. Page, 35, Los Angeles, California pleaded guilty to one count of tax evasion, arising from his role in a mortgage fraud scheme in which he failed to report the proceeds of the fraud on his income tax return.  He admitted in court that the mortgage fraud scheme in which […]

Incentive Kickbacks = Home Builder Indictment

Gary Bryan Penrod, 52, home builder, Greenwood, Missouri,  was charged in a 22-count indictment returned by a federal grand jury in Kansas City, Missouri,  in connection with a multi-million dollar mortgage fraud scheme. The federal indictment alleges that Penrod, doing business as Penrod Homes, Inc., engaged in a scheme to defraud mortgage lenders from May 2005 to […]

14 Year Prison Term for Straw Buyer Fraud

Vera Kuzmenko, 46, Loomis, California was sentenced to 14 years in prison for multiple counts of mail and wire fraud, witness tampering, and money laundering associated with her involvement in a mortgage fraud scheme that cost financial institutions over $16 million. On December 4, 2015, after a 16-day trial, a federal jury returned guilty verdicts for […]

Jury Convicts Guyanese National of Mortgage Fraud

Ravindranauth “Ravi” Roopnarine, 56, Guyana, was convicted following a federal jury trial on charges stemming from his leadership and participation in an extensive mortgage fraud scheme.  Roopnarine was charged by indictment with conspiracy...Show More Summary

Mod Fraud Indictment in New Jersey

Daniel Sheehan, 41, Gloucester City, New Jersey, and John Hoban, 42, Bellmawr, New Jersey, were indicted in connection with a scheme to defraud distressed homeowners seeking help out of more than $400,000,.  The pair is charged with wire fraud conspiracy and eight counts of wire fraud.  Sheehan is additionally charged with 18 wire fraud counts and one […]

Fraud Schemes Result in Prison Sentence

Ryan Geddes, 44, Litchfield, Connecticut was sentenced to 30 months of imprisonment, followed by three years of supervised release, for participating in multiple conspiracies involving a series of real estate transactions intended to shield assets from creditors. Show More Summary

Stealing – for spiritual validation

“Normally it’s greed, greed, greed, greed, greed,” the judge told Hillman. “And that’s not what it is. You’re seeking love and spiritual validation.”

Plea in New Jersey Shotgunning case

Sung Ho Mo, a/k/a “Douglas Mo,” 53, Totowa, New Jersey, a self-employed loan broker, admitted using bogus documents and simultaneous applications at multiple banks to fraudulently obtain home equity lines of credit, resulting in losses of $1.3 million.  Mo pleaded guilty  before U.S. Show More Summary

5 Year Sentence in Straw Buyer Scheme Involving Baltimore Row Houses

Alberic Okou Agodio, 31, Bethesda, Maryland, was sentenced to 61 months in prison followed by five years of supervised release for conspiracy, wire fraud, and aggravated identity theft, arising from a mortgage fraud scheme in which he used the names of immigrants and students, along with false financial information, to obtain $3.8 million in home mortgage loans […]

Man Who Recruited Churches into Fraud Scheme Sentenced

Chester Peggese, 59, Los Angeles, California was sentenced to serve one year and one day in federal prison yesterday in connection with recruiting churches into a $4.2 million mortgage scheme that defrauded Broadway Federal Bank.  Peggese was also ordered to pay restitution of $4.2 million to Broadway Federal Bank and $38,609 to the Internal Revenue Service. Peggese […]

Straw Buyer Convicted for Occupancy Fraud

Felicia Muhammad, 45, Lakewood, California was found guilty of five felony charges for lying to banks that funded mortgages for three properties that later went into default, causing about $660,000 in losses to the lenders.  Muhammad was a licensed real estate broker living in Long Beach, California at the time of the conduct.  She was convicted of five counts […]

Caye Clubs CEO Gets 40 Year Prison Sentence

Fred Davis Clark, Jr., a/k/a Dave Clark, 57, formerly of Monroe County, Florida, the former Cay Clubs Chief Executive Officer was sentenced to 40 years in prison for his participation in a $300 million dollar vacation rental fraud scheme.  Clark was convicted on December 11, 2015 after a five-week trial, of three counts of bank fraud, […]

Former FDIC Attorney Sentenced for Short Sale Fraud

Michelle M. Borzillo, 59, Bristow, Virginia, a former attorney with the Federal Deposit Insurance Corporation (FDIC) was sentenced  to 12 months and one day in prison, followed by two years of supervised release, for defrauding Wells Fargo Bank in connection with the sham short sale of her home to her live-in boyfriend.  She was also ordered […]

Loan Officer Sentenced to 5 Month Prison Term

David B. Pick, Bowie, Maryland, was sentenced to 5 months imprisonment to be followed by 3 years supervised release.  He was ordered to pay restitution of $383,178.  He previously pled guilty to making false statements arising from a real estate closing. As previously reported by Mortgage Fraud Blog, Pick was a loan originator responsible for preparing loan applications, […]

Three Charged in Foreclosure Prevention Scam

Rene de Jesus de Leon, 47, Silver Spring, Maryland, his wife, Pedrina Rodriguez Bonilla, 37, Silver Spring, Maryland, and Ana Maritza Gomez, 43, Hyattsville, Maryland, were indicted by a federal grand jury on charges arising from a residential mortgage fraud scheme. Show More Summary

Morris Hardwick Schneider Managing Partner and CFO Charged in Escrow Thefts

Nathan E. Hardwick IV, 50, formerly of Atlanta, Georgia, and Asha R. Maurya, 40, Atlanta, Georgia, were indicted on charges of with conspiracy, wire fraud, and related crimes in connection with Hardwick’s alleged theft of over $20 million from the attorney escrow accounts and operating accounts of Morris Hardwick Schneider and LandCastle Title, an Atlanta-based law […]

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