Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1958
Posts / Week:3.9
Archived Since:March 20, 2008

Blog Post Archive

Real Estate Investor Pleads Guilty In Borrower Kickback Scheme

Mortgage Fraud Blog. Thomas L. Boyd, 44, Memphis, Tennessee, are real estate investor, pled guilty to bank fraud.  In September 2016, Boyd was indicted by a federal grand jury in connection with a scheme to fraudulently obtain mortgage loans. Show More Summary

Caye Clubs CFO Sentenced to 40 Years in Prison

Mortgage Fraud Blog. David W. Schwarz, 60, Orlando, Florida, the former  Chief Financial Officer of Cay Clubs Resorts and Marinas (Cay Clubs), was sentenced to 40 years in prison.  Schwarz was convicted at trial by a federal jury onShow More Summary

Mortgage Fraud Ringleader Sentenced to 10 years

Mortgage Fraud Blog. Karim Akil, also known as Scott Kinney, 50, Vallejo, California, was sentenced to 120 months in prison for conspiracy to commit mortgage fraud and money laundering.  Akil pled guilty on July 10, 2012, admitting his role as the organizer and leader of a mortgage fraud scheme. Show More Summary

Senior Loan Officer Pleads Guilty to Conspiracy

Mortgage Fraud Blog. Ross D. Pickard, 63, Naples, Florida, pleaded guilty to conspiracy to commit loan and credit application fraud. He faces a maximum penalty of five years in federal prison. According to the plea agreement, Pickard was a senior loan officer at JP Morgan Chase Bank. Show More Summary

Conviction in Credit Repair Scheme Using Stolen SSNs

Mortgage Fraud Blog. Benjamin Bland, 41,  Richmond, Virginia, was convicted by a federal jury of conspiracy to commit wire fraud, wire fraud, and social security fraud. According to evidence presented at his five day trial, Bland was...Show More Summary

Nine Year Sentence in Foreclosure Rescue Fraud

Mortgage Fraud Blog. Timothy W. Burke, also known as “Bill Burke,” “William Burke,” “Kerry Saunders,” “Pat Riley,” “Jim Caldwell,” “Jim Saunders,” “Tom Morrisey,” “Jimmy,” “Phil Burke,” “Phil,” “Burt,” “James Burke,” and “M. Soler,” 65, formerly of Easton, Connecticut, was sentencedby U.S. Show More Summary

Convicted Loan Modification Scammer Sought by FBI

Mortgage Fraud Blog. Oscar Cantalicio Ortiz, 53, Kingwood, Texas, a Houston-area contractor, failed to appear for sentencing in a $16 million loan fraud scheme, and has been charged with failing to appear. Ortiz pleaded guilty June 30, 2016, to conspiring to commit bank, mail and wire fraud. Show More Summary

Three Convicted in Nationwide Modification Fraud Scheme

Mortgage Fraud Blog. Sammy Araya, 41, Santa Ana, California, Michael Henderson, 49,Costa Mesa, California, and Jen Seko, 36, Anaheim, California, were convicted by a federal jury in connection with their operation of a nationwide, multi-year “home mortgage modification” fraud that scammed hundreds of victims out of at least $10 million. Show More Summary

Guilty Plea in Escrow Theft

Mortgage Fraud Blog. Michael Pampalone, 34, of Elizabeth, New Jersey, pled guilty  to defrauding a Rensselaer, New York, resident of $132,450. As part of his guilty plea, Pampalone admitted that he stole money that he had promised to hold in escrow for a client seeking a mortgage. Show More Summary

Sentences in Rhode Island Mortgage Fraud Scheme

Mortgage Fraud Blog. Louis Marandola, 42, Providence, Rhode Island, a Former Real Estate Attorney, and Brian R. McCaffrey, 38, Warwick, Rhode Island, a former licensed loan originator, have been sentenced to federal prison for theirShow More Summary

Sentencing in Application and Appraisal Fraud

Mortgage Fraud Blog. Michael Lane Prevette, Greensboro, North Carolina, was sentenced to 42 months imprisonment in federal court in connection with loan application and appraisal fraud. In October of 2016, Prevette pled guilty to count...Show More Summary

Former RMBS Trader Sentenced

Mortgage Fraud Blog. Jessie C. Litvak, 42, Boca Raton, Florida, was sentenced to 24 months of imprisonment, followed by three years of supervised release, for engaging in fraudulent residential mortgage-backed securities (RMBS) trades. Show More Summary

Real Estate Agent Charged with Diverting Funds

Mortgage Fraud Blog. Ignacio Beato, 46, Hazleton, Pennsylvania, was charged in a one count criminal information on April 26, 2017, with conspiracy to engage in monetary transactions through a financial institution, with funds that were the proceeds of wire fraud. Show More Summary

FBI Most Wanted – Jaime Jesus Sola Avila

Mortgage Fraud Blog. Jaime Jesus Sola Avila, a convicted felon, is wanted for his alleged involvement in a multi-million dollar mortgage fraud scheme that operated between Miami, Tampa, and Largo, Florida, in 2007 and 2008.  Avila’s last known residence was in Doral, Florida. Show More Summary

Cook County judge indicted on mortgage fraud charges – Chicago Tribune

Mortgage Fraud Blog. Judge Jessica O’Brien, a small-claims judge in Cook County, Illinois, was indicted on allegations that she lied and concealed relevant facts from lenders to obtain more than $1.4 million in mortgages on two South Side investment properties that she purchased and sold between 2004 and 2007. Show More Summary

4 Year Sentence for Commercial Loan Fraud

Mortgage Fraud Blog. Sanjiv Kakkar, 55, Saratoga, California, was sentenced to 48 months in prison and ordered to pay $4,208,565.36 in restitution to the victim for wire fraud and making misstatements to a bank.  Kakkar was concited after a twelve-day jury trial ending with a guilty verdict on all counts. Show More Summary

Escrow Charged with Diverting Funds to Personal Account

Mortgage Fraud Blog. Kimberlee E. Himmell, 62, Massillon, Ohio, is alleged to have defrauded financial institutions out of more than $2 million by having escrow funds on home purchases deposited into her personal account.  Himmell was charged with 18 counts of bank fraud and one count of theft of government funds. Show More Summary

Ohio Loan Modification Fraud Sentences

Mortgage Fraud Blog. Jason J. Keating, 38, Toledo, Ohio, was sentenced to nine years in prison and Christopher J. Howder, 40, Perrysburg, Ohio, was sentenced to seven years in prison in after  stealing more than $1.1 million from hundreds...Show More Summary

Sentence in Puerto Rico Mortgage Fraud

Mortgage Fraud Blog. Alejandro E. Mayendía-Blanco was sentenced to serve 21 months of imprisonment for mortgage fraud, five years of supervised release, pay a fine of $50,000, and ordered to pay restitution of $98,666.  Mayendía-Blanco pled guilty on August 12, 2016. Show More Summary

New York Short Sale Fraud Convictions

Mortgage Fraud Blog. Joseph Atias, 52, Great Neck, New York, and Sofia Atias, 47, Great Neck, New York were convicted of bank fraud, conspiracy to commit bank fraud and Medicaid fraud by a jury in federal court in Central Islip., New York. The fraud was designed to, and did, defraud Bank of America of over half a million dollars. Show More Summary

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