Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1733
Posts / Week:4.1
Archived Since:March 20, 2008

Blog Post Archive

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

Bank President Pleads Guilty to Fraud

Gary Patton Hall Jr., 49, Tifton, Georgia, the former president and Chief Executive Officer of Tifton Banking Company (from August 2005 to June 2010) pled guilty to one count of conspiracy to commit bank fraud and one count of conspiracy to commit fraud against the United States in connection with his role in a bank fraud scheme […]

Guilty Verdict Follows 16 Day Federal Trial

Vera Kuzmenko, 45, Loomis, California and Rachel Siders, 40, Roseville, California, were found guilty by a federal jury after a 16 day trial of multiple counts of mail and wire fraud associated with their involvement in a mortgage fraud scheme that cost financial institutions over $16 million. Vera Kuzmenko was also found guilty of witness tampering and money […]

5+ Years for Targeting Hispanic Borrowers in Fraud Scheme

Rosita Vilchez, 41, who was a fugitive in Lima, Peru, until she was extradited to the United States in June 2015, was sentenced  to 66 months in prison for leading a wide-ranging mortgage fraud conspiracy that targeted hundreds of victims in the northern Virginia Hispanic community. Vilchez was also ordered to serve a five-year term […]

18 Years in Prison for Mortgage Modification Scam

Andrea Ramirez, 47, Rancho Cucamonga, California was sentenced to 18 years in federal prison and ordered to pay $6,764,743 in restitution for orchestrating a scheme that offered bogus loan modification programs to thousands of financially distressed homeowners who lost more than $7 million when they paid for services that were never provided. Ramirez was the founder, […]

Guilty Plea in Straw Buyer Scheme

Miguel LaRosa, 48, Elizabeth, New Jersey, pleaded guilty  in Newark federal court to an information charging him with one count of conspiracy to commit wire fraud for recruiting straw buyers and submitting bogus loan applications as part of large-scale mortgage fraud scheme involving properties in northern New Jersey. According to documents filed in this case […]

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