Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1705
Posts / Week:4.1
Archived Since:March 20, 2008

Blog Post Archive

Loan Fraud Gets Minnesota Man 57 Months

Solomon Gordon Raymond, also known as Paul Anthony Raymond, 54, Golden Valley, Minnesota, was sentenced to 57 months in custody for lying to banks on a series of business loan applications he used to take almost $500,000. In addition to punishing Raymond for his fraudulent crimes, U.S. District Judge Roger T. Benitez increased Raymond’s sentence for […]

Guilty Verdicts in Builder Bailout Scheme

A federal jury found two defendants guilty today of mail fraud and making false statements on loan applications in a scheme that provided financial incentives to straw buyers to get them to purchase homes that developers were having difficulty selling, United States Attorney Benjamin B. Wagner announced. Edward Khalfin, 58, San Mateo, California was found guilty by […]

Real Estate Developer Gets Prison Sentence

Michael David Scott, real estate developer, 51, Mansfield, Massachusetts, was sentenced to 135 months in prison, five years of supervised release, and ordered to pay restitution of over $11,374,201and to forfeit $7,413,712.  In June 2015, Scott pleaded guilty to counts of 32 counts of wire fraud, 14 counts of bank fraud, and 22 counts of […]

5 Year Sentence in $2.6 Million Mortgage Fraud

Anthony Salcedo, mortgage broker, 34, Fair Oaks, California, was sentenced to five years and four months in prison for a mortgage fraud scheme. Salcedo was found guilty by a federal jury of one count of conspiracy and four counts of mail fraud after a five-day trial in June 2015. According to court documents and evidence […]

Special Servicer Asset Manager Sentenced for Fraud

Max Wagenblast, 35, Arlington, Virginia, was sentenced to two years in prison, followed by three years of supervised release, for wire fraud in connection with a scheme to steal over $5 million from his company. Wagenblast was also ordered to pay a fine of $25,000. According to the his plea, Wagenblast was employed as an asset manager […]

Lender and Escrow Owner Sentenced to 84 months

George Kalivretenos, 59, Miami Beach, Florida, was sentenced to 84 months in prison for a wire fraud and money laundering scheme in which he defrauded borrowers of approximately $5.6 million. Kalivretenos was also ordered to pay $4.18 million in restitution as part of his sentence. Kalivrentenos pleaded guilty on August 13, 2015. According to court documents, Kalivretenos […]

Loan Originator Pleads to False Statements

David B. Pick, loan originator, 47, Bowie, Maryland, pleaded guilty to making false statements arising from a real estate closing. Pick was a loan originator responsible for preparing loan applications, obtaining documentation to support...Show More Summary

Mortgage Broker Sentenced for False Loan Application Statements

Valeri Kalyuzhnyy, 44, Citrus Heights, California, was sentenced to 2 years in prison. On June 25, 2015, Kalyuzhnyy pleaded guilty to making a false statement on a loan application. According to court documents, Kalyuzhnyy, while working as a mortgage broker, bought two homes using the credit information of a straw buyer. The loan applications that […]

Sentencing in Straw Buyer Fraud

Sean McClendon, 49, Elk Grove, California, was sentenced to one year and eight months in prison. On October 18, 2012, McClendon pleaded guilty to a conspiracy to commit mail fraud for his involvement in a Sacramento, California area mortgage fraud scheme with Anthony Salcedo and Anthony Williams. According to court documents, McClendon and Williams recruited straw buyers […]

Sentencing in California Mortgage Fraud Scheme

Stephen Pirt, 37, Mountain House, California, was sentenced to 2 years and 1 month in prison for his participation in a large-scale mortgage fraud scheme. According to evidence presented at the trial for co-defendant Erik Hermann Green,...Show More Summary

Straw Buyer and Down Payment Fraud Guilty Plea

Antonio Pimenta, 47, Neshanic Station, New Jersey, admitted his role in a scheme that used straw buyers and phony loan documents to fraudulently obtain a $400,500 loan on a property in Irvington, New Jersey. According to documents filed and statements made in court: Pimenta owned and managed Kelmar Construction Co. Kelmar built multiple properties in Irvington, […]

Daughter and Parents Guilty in Foreclosure Rescue Scheme

Silver Buckman, 37, Cherry Hill, New Jersey, her parents, Vincent Foxworth, 70, Turnersville, New Jersey and Cynthia Foxworth, 64, Turnersville, New Jersey, were convicted by a federal jury for a mortgage fraud scheme that stripped the...Show More Summary

Mortgage Mod Case Results in 10+ Year Sentences

Kristen Michelle Ayala, aka Amber Lynch, aka Olivia Benet, aka Grace Williams, 30, formerly of Las Vegas, Nevada, and Joshua Manuel Sanchez, aka Nelson Cruz, aka Chris Ward, aka Daniel Mora, 34, formerly of Las Vegas, Nevada, were sentenced for conspiracy to commit wire fraud for their role in a $3.8 million dollar mortgage modification scam. Ayala […]

More Georgia Bid Rigging Pleas(e)

Trent Gaines, a Georgia real estate investor, pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia.  Gaines admitted that he and others conspired not to bid against one another at public real estate foreclosure auctions from October 2008 to November 2010 in Fulton County, Georgia, […]

Rent Skimming Sentence

Hubert Rotteveel, 52, Dixon, California was sentenced  to three years and four months in prison for one count of mail fraud,. In September 2014, Rotteveel was found guilty by a federal jury of one count of mail fraud relating to 13 properties in Dixon. According to evidence produced at trial, Rotteveel acted as a […]

Former Jersey City political candidate Alston, 2 others charged in mortgage scheme

Former state Senate and Assembly candidate Bruce Alston was arrested early Friday morning for his role in a sophisticated mortgage fraud scheme, the Hudson County Prosecutor’s Office announced this morning. Alston, 44, of Jersey City was arrested along with his sister, Gail Alston, 50, and Maisha Taylor, 42, of Newark, who Alston described on his blog […]

Guilty Plea for Las Vegas Fake Liens

Rodney Taylor, 51, Las Vegas, Nevada, pleaded guilty to two counts of false representation concerning title. Taylor participated in a scheme to claim liens on real estate in Las Vegas, Nevada by filing false documents. The fraudulent acts were committed between March and September 2012. In addition to claiming non-existent liens on property, Taylor was also […]

Sentences in California Inflated Value Scheme

Olga Palamarchuk, 45, Rancho Cordova, California was sentenced to five years and 10 months in prison; Pyotr Bondaruk, 44, Sacramento, California, was sentenced to five years and 11 months in prison; Vera Zhiry, 35, Sacramento, California, was sentenced to three years and one month in prison; and Peter Kuzmenko, 37, West Sacramento, California, was sentenced to […]

4 years is Price for False Police Reports

George Price, 42, a former Miami-Dade Police Department officer, was sentenced to 48 months in prison, to be followed by three years of supervised release for his participation in a wire fraud scheme, arising out of the operation of a series of credit repair businesses.  Price previously pled guilty to conspiracy to commit wire fraud, […]

7 Year Sentence in Investor Ponzi Scheme

James Hurst Miller Jr., 67, Paso Robles, California, the former president of the Atascadero-based Hurst Financial Corporation, to 84 months in federal prison for misappropriating millions of dollars that victims invested in Central Coast real estate projects and for helping a real estate developer defraud a bank. Miller’s case is related to that of Kelly […]

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