Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1437
Posts / Week:3.8
Archived Since:March 20, 2008

Blog Post Archive

Bank Settles Allegations of Underwriting Unqualified FHA Loans

Mortgage Fraud Blog. First Tennessee Bank, N.A., Memphis, Tennessee, has agreed to pay the United States $212.5 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Show More Summary

Lender Resolves Allegations of Discriminatory Loan Prices

Mortgage Fraud Blog. Provident Funding Associates is the subject of a consent order resolving allegations by the Justice Department and Consumer Financial Protection Bureau that it engaged in a pattern or practice of discrimination.Show More Summary

Banker Sent to Prison for Taking Bribes in Secondary Mortgage Market

Mortgage Fraud Blog. Lynda Sanabria, 51, Rockwall, Texas, was sentenced to six months in prison, followed by six months of home confinement, for her role in a commercial bribery and tax evasion scheme. Sanabria admitted accepting hundreds...Show More Summary

Property Development Exec Convicted of Submitting False Invoices to Obtain Loan Proceeds

Mortgage Fraud Blog. Bruce Carlton Wright, 69, Norman, Oklahoma, was convicted following an 8-day jury trial of conspiracy and 11-counts of bank fraud. The scheme to defraud the IBC Bank of approximately $1.2 million dollars was in connection with property development. Show More Summary

Guyanese National Indicted for Mortgage Fraud

Mortgage Fraud Blog. Ravindranauth “Ravi” Roopnarine, 55, Guyana, was indicted on charges stemming from his leadership and participation in an extensive mortgage fraud scheme, which resulted in the issuance of more than $50 million in...Show More Summary

Rental Property Owner Jailed for Ripping Off Lenders to the Tune of $7.7M

Mortgage Fraud Blog. Maximus A. Yaney, 38, New York, New York, pled guilty to mortgage fraud and was sentenced by United States District Judge J. Phil Gilbert to 18 months in federal prison, followed by two years of supervised release. Show More Summary

Former Short Sale Specialist Convicted of Mortgage and Tax Fraud

Mortgage Fraud Blog. Charise Stone, 46, Ashburn, Virginia resident was convicted by a federal jury on 13 charges related to mortgage fraud, passing fictitious financial instruments, and tax fraud. The defendant was indicted on April 15, 2014. Show More Summary

It’s Prison Time for Man Who Ran $4M Loan Fraud Scheme

Mortgage Fraud Blog. Julian Martin Gaspar Vazquez, 52, of Mexico was sentenced on May 22, 2015, by United States District Judge William P. Dimitrouleas, to forty-one months imprisonment, to be followed by five years of supervised release for executing a $4 million dollar bank fraud scheme. Show More Summary

Judge Hands Down 30 Year Prison Sentence to Leader of Mortgage and Investment Fraud Scheme

Mortgage Fraud Blog. James Tyson, Jr., 34, Charlotte, North Carolina, was sentenced by Senior U.S. District Judge Graham C. Mullen to 30 years in prison, Carrie Tyson, 61, Winterville, North Carolina, was sentenced to 18 years in prison,...Show More Summary

Fraudster Receives 7 Year Prison Term for $15M Mortgage Scam

Mortgage Fraud Blog. Timothy Ricks, 47, East Orange, New Jersey, was sentenced to 84 months in prison for conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos. Show More Summary

3 Charged With Deceiving Homeowners into Selling Their Homes

Mortgage Fraud Blog. Mario Alvarenga, Rajesh Maddiwar, and Amir Meiri were arrested for participating in a scheme wherein, through an organization that advertised help to those seeking loan modifications to avoid foreclosure, obtained millions of dollars by deceiving homeowners into selling their homes to a company associated with the defendants. Show More Summary

Company VP Admits Misrepresenting Collateral to Obtain $35M Loan

Mortgage Fraud Blog. Mark Yaffe, 55, Tampa, Florida, has pleaded guilty to one count of conspiracy to commit bank fraud admitting his role in misrepresenting the extent of company collateral to Sovereign Bank in order to borrow $35 million. Show More Summary

Attorney Charged with 30 Felony Counts Including Racketeering in Fake Mortgage Assistance Scheme

Mortgage Fraud Blog. Steven Barry Ruza, 52, Orchard Lake, Michigan, and his company, Home Legal Group, Inc., have been charged with 30 felony counts for allegedly stealing hundreds of thousands of dollars from Michigan victims that were facing mortgage foreclosures. Show More Summary

Mortgage Broker Pleads Guilty to Procuring Fraudulent Loans

Mortgage Fraud Blog. Jason Calabrese, 43, Watertown, Connecticut, pleaded guilty before U.S. District Judge Janet Bond Arterton in New Haven, Connecticut, to his involvement in a series of fraudulent mortgage loan applications. According...Show More Summary

Contractor and Bookkeeper Sent to Prison for Ripping Off Borrowers

Mortgage Fraud Blog. Paxton Jeffrey Anderson, 44, Montevideo, Minnesota, and Joseph John Plany, 42, Hutto, Texas, were sentenced by U.S. District Court Judge Susan R. Bolton to eight years and four years in prison, respectively, and ordered to pay $3,270,425 in restitution. Show More Summary

Real Estate Investor Admits Rigging Bids at Foreclosure Auctions

Mortgage Fraud Blog. Eric Hulsman, a Georgia real estate investor, pleaded guilty to his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia. Felony charges against the defendant were filed on March 27, 2015, in the U.S. Show More Summary

Real Estate Agent Sent to Prison for Straw Buyer Scam

Mortgage Fraud Blog. Arlene Jeanette Mojardin, 32, Bakersfield, California, was sentenced by United States District Judge Anthony W. Ishii to two years and six months in prison for conspiring to commit bank fraud, mail fraud, and wire fraud, in connection with a mortgage fraud scheme in Bakersfield. Show More Summary

Fraud Enforcement Official Arrested for Submitting Fraudulent Application for Loan Modification

Mortgage Fraud Blog. Lynwood Patrick, Jr., 39, East Hartford, Connecticut, was arrested on a federal criminal complaint charging him with wire fraud in connection with his submission of a fraudulent application for a personal mortgage modification. Show More Summary

Real Estate Developers Jailed for Laundering Construction Loan Proceeds

Mortgage Fraud Blog. Franklin Thad Harris, 59, and Merlin D. Unruh, 53, both of Grand Junction, Colorado, were sentenced by U.S. District Court Judge Christine M. Arguello to serve 36 months and 28 months in federal prison, respectively, for money laundering. Show More Summary

Title Agent Gets 5 Years in Prison for Mortgage Fraud

Mortgage Fraud Blog. Ania Nowak, 48, Belvidere, New Jersey, a former real estate title agent was sentenced to 66 months in prison for carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million, on two properties located in Wood-Ridge, New Jersey and Belvidere, New Jersey. Show More Summary

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