real estate fraud: Greenleaf Co-Owner Sentenced in Multi-Million Mortgage Fraud Scheme - 07/31/14 01:56 PM
Greenleaf Co-Owner Sentenced in Multi-Million- Dollar Mortgage Fraud Scheme
SPRINGFIELD, MO—Tammy Dickinson, United States Attorney for the Western District of Missouri, announced today that a Nixa, Mo., man who was a co-owner of Greenleaf Companies has been sentenced in federal court for aiding and abetting a bank fraud conspiracy that was part of a multi-million-dollar mortgage investment scheme.
Eric Gagnepain, 41, of Nixa,
was sentenced by U.S. District Judge Greg Kays on Wednesday, July 30, 2014, to four years in federal prison without parole.
The court also ordered Gagnepain to pay $2,911,214 restitution.
On Jan. 9, 2014, Gagnepain … (2 comments)

real estate fraud: Defendant Who Sold Homes He Did Not Own Gets 70-Month Prison Term - 07/31/14 01:49 PM
Defendant Who Sold Homes He Did Not Own Gets 70-Month Prison Term
PHILADELPHIA—
Eric Tubbs, 54, of Philadelphia,
was sentenced yesterday to 70 months in prison
for fraudulently selling properties he did not own.
Tubbs found vacant properties, created phony deeds which falsely transferred the properties from the legitimate owners to individuals recruited by him, and sold properties owned by estates by having others pose as the executors.
Tubbs then sold the properties to unsuspecting buyers. He pleaded guilty on April 22, 2014 to seven counts that included wire and mail fraud, bank fraud, aggravated identity theft, … (0 comments)

real estate fraud: Former FBI Agent and Wife Plead Guilty to Mortgage Fraud Charges - 07/31/14 12:50 PM
Former FBI Agent and Wife Plead Guilty to Mortgage Fraud Charges   reproduced courtesy of Rachel Dollar original content here Charles Espinel, 61, and Jeannette Espinel, 58, Daly City, California, a former 32 year FBI employee and his wife, pleaded guilty in federal court to Bank Fraud charges for their roles in securing mortgages based on fraudulent loan applications.
The Espinels both admitted in their separate plea agreements that, beginning in 2006 and continuing through 2010, the two of them defrauded First California Bank and Wells Fargo Bank in connection with mortgage loans they obtained to purchase a $750,000 rental property … (0 comments)

real estate fraud: Mortgage Fraud Conspirators in the Charlotte Area Sentenced to Prison - 07/31/14 06:25 AM
Mortgage Fraud Conspirators Operating in the Charlotte Area Sentenced to Prison
CHARLOTTE, NC—Two defendants involved in a mortgage fraud conspiracy that targeted Charlotte-area homes were sentenced to prison late Tuesday, July 29, 2014, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina.
Gregory D. Anderson, 47,
of Kingstree, S.C. was sentenced to 15 years (180 months) in prison and his co-defendant
Anthony C. Carrothers, 49,
of Charlotte, was sentenced to 10 months. U.S. District Judge Max O. Cogburn, Jr. also ordered Anderson to serve three years of supervised release and Carrothers two years’ supervised … (6 comments)

real estate fraud: Loan Officer Pleads Guilty to Conspiracy to Commit Wire Fraud - 07/30/14 01:12 PM
Loan Officer Pleads Guilty to Conspiracy to Commit Wire Fraud
KNOXVILLE, TN—On July 29, 2014, Paulynn Wright, 42, of Knoxville, Tenn., pleaded guilty in U.S. District Court for the Eastern District of Tennessee at Knoxville, to conspiracy to commit wire fraud. Sentencing has been set for 2:00 p.m., on Dec. 3, 2014, before the Honorable Thomas A. Varlan, Chief U.S. District Judge.
Wright faces a potential term of up to 20 years in prison, along with the forfeiture of any proceeds of the offense and the obligation to pay restitution.
In a plea agreement on file with the U.S. District … (4 comments)

real estate fraud: Mortgage Fraud Blog Update for July 30, 2014 - 07/30/14 09:16 AM
    Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (6 comments)

real estate fraud: Real Estate Fraud Report for July 30, 2014 - 07/30/14 09:05 AM

 
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real estate fraud: Couple Sent to Prison for Defrauding Mortgage Lenders of $3 Million + - 07/30/14 08:54 AM
Bergen County Couple Sentenced to Prison for Defrauding Mortgage Lenders of More Than $3 Million
NEWARK, NJ—A husband and wife from Bergen County, New Jersey, were both sentenced today to prison for lying about their employment, income, and other financial information in order to fraudulently obtain millions in mortgages, U.S. Attorney Paul J. Fishman announced.
Linda Yarleque, 44, was sentenced to 24 months in prison and her husband,
Fabio Moreno Vargas, 47, was sentenced to 18 months in prison.
They were previously convicted by a federal jury of one count each of bank fraud and conspiracy to commit … (0 comments)

real estate fraud: 7 Sent to Federal Prison in Multi-Million-Dollar Mortgage Fraud Scheme - 07/30/14 08:48 AM
Seven Sentenced to Federal Prison in Multi-Million-Dollar Mortgage Fraud Scheme
HOUSTON—The final two defendants charged for their roles in a multi-million dollar mortgage fraud scheme operating in the Houston area have been ordered to prison, announced United States Attorney Kenneth Magidson.
Din Chaney, 36, and
Lisa Lipton, 50,
admitted to participating in a conspiracy to commit bank, mail and wire fraud as did
Catherine Sanoubane, 35,
Jose Batista, 36,
Dennis Hannah, 43,
Nathaniel Gordon III, 32, and
Shawn Lewis Washington, 38.
All were convicted of the conspiracy.
Chaney, Sanoubane, Hannah and Gordon also admitted … (11 comments)

real estate fraud: Lloyds Banking Group Guilty in LIBOR Investigation - $86M Penalty - 07/29/14 10:09 AM
Lloyds Banking Group Admits Wrongdoing in LIBOR Investigation, Agrees to Pay $86 Million Criminal Penalty
WASHINGTON—Lloyds Banking Group plc has entered into an agreement with the Department of Justice to pay an $86 million penalty for manipulation of submissions for the London InterBank Offered Rate (LIBOR), a leading global benchmark interest rate.
Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, Deputy Assistant Attorney General Brent Snyder of the Antitrust Division, and Assistant Director in Charge Valerie Parlave of the FBI’s Washington Field Office made the announcement.
A criminal information will be filed today in U.S. District … (4 comments)

real estate fraud: Dirty Shyster Nailed for Real Estate Fraud & Theft of Client Funds - 07/25/14 04:08 PM
Local Attorney Pleads Guilty to Multiple Federal Fraud Charges
ST. LOUIS, MO—
St. Charles County attorney
 
 
Jeffrey Witt
 
pled guilty
to three (3) federal felony charges:
 
falsifying documents to
 
obtain a bank loan secured
 
by a St. Louis County home
 
which did not actually
 
belong to him,
 
 
using an associate to
 
impersonate the true home
 
owner at the bank loan
 
closing,
 
 
and cashing legal client
 
 
settlement checks without
 
 
their knowledge.
According to court documents and statements made in … (8 comments)

real estate fraud: Man Enters Guilty Plea to Conspiracy to Commit Bank Fraud - 07/24/14 05:01 PM
Jamesville Man Enters Guilty Plea to Conspiracy to Commit Bank Fraud
RICHARD S. HARTUNIAN, United States Attorney, Northern District of New York announces that DAVID PIZIO (58, of Jamesville, NY) entered a guilty plea in U.S. District Court to the felony offense of conspiracy to commit bank fraud. The defendant is facing a statutory maximum of 30 years’ imprisonment and a maximum fine of $1,000,000.00. PIZIO is scheduled to be sentenced on December 5, 2014, before the Honorable David N. Hurd in Utica, NY.
During the plea hearing on July 24, 2014, PIZIO admitted he was one of the owners … (4 comments)

real estate fraud: Conspirator Sent to Prison for $1.5 Million in Mortgage Fraud Losses - 07/24/14 04:56 PM
Conspirator Sentenced to Prison for $1.5 Million in Mortgage Fraud Losses
Five Co-Conspirators Have Pleaded Guilty BALTIMORE, MD—U.S. District Judge James K. Bredar sentenced Demetrius Peete, age 46, of Manassas, Virginia, to a year and a day in prison followed by three years of supervised release for conspiring to commit wire fraud in connection with a mortgage fraud scheme which resulted in losses attributable to Peete of approximately $1.5 million. Judge Bredar also ordered Peete to pay restitution of $394,908 to the victims and to forfeit $1.5 million.
The sentence was announced by United States Attorney for the District of Maryland … (2 comments)

real estate fraud: Man Sentenced to Federal Prison for Endeavoring to Influence a Juror - 07/24/14 04:50 PM
Rochester Hills Man Sentenced to Federal Prison
Marcus Little, 51, of Rochester Hills, was sentenced to 34 months in federal prison United States Attorney Barbara L. McQuade announced today. Little who was convicted in September 2013 of Endeavoring to Influence a Juror and Making a False Statement to a Federal Agent, was sentenced by United States District Judge Patrick Duggan.
The evidence presented during the trial showed that Little was present at a fraud trial in May 2011 as an observer.
The trial which was held in Ann Arbor, Michigan involved three defendants who were charged with defrauding financial institutions … (0 comments)

real estate fraud: St. Louis-Area Man Pleads Guilty to Fraud Charges - 07/24/14 03:04 PM
St. Louis-Area Man Pleads Guilty to Fraud Charges
ST. LOUIS, MO—
Ronald L. Roberts
pled guilty today to charges of mail and wire fraud in connection with his obtaining more than a million dollars from lenders in what he now admits was a loan fraud scheme.
According to court documents, Roberts solicited personal loans for a fictitious real estate transaction involving property in or around Poplar Bluff, Missouri, which Roberts claimed he owned and planned to sell to Wal-Mart.
In some instances, Roberts claimed that the funds were needed to buy out the interests of family members, including his half-brother, … (0 comments)

real estate fraud: Three Indicted for Federal Program Fraud - 07/24/14 02:56 PM
Three Indicted for Federal Program Fraud
JACKSON, MS—
Linda Harvey-Irvin, 62, of Jackson,
Donald Walton, 51, of Vicksburg, and
Markuntala Croom, 45, of Columbia, Mississippi
have been indicted by a federal grand jury for conspiring to embezzle money from the Mississippi Gulf Coast Community Action Agency (“GCCAA”), an organization that receives more than $10,000 in federal funding each year, announced U.S. Attorney Gregory K. Davis and Acting FBI Special Agent in Charge Johnnie Sharp.
Harvey-Irvin, the former Director of the GCCAA and Director of the associated Head Start Program, is charged in one indictment with Donald Walton, owner … (0 comments)

real estate fraud: Man Gets Eight Years In Prison for Construction Fraud - 07/24/14 02:51 PM
Missoula Man Gets Eight Years for Bakken Construction Fraud
MISSOULA—
Jonathan Lee Oliver, a 41-year-old Missoula resident,
was sentenced to 100 months in prison for diverting money he received from customers in eastern Montana, North Dakota, and other places, and using the money to buy himself a house, several vehicles, two jet skis, a luxury motor home, a diamond engagement ring, and various other items.
On February 25, 2014, Oliver pleaded guilty to wire fraud, money laundering and structuring. In an Offer of Proof filed by Assistant U.S. Timothy J. Racicot, the government told the court that in the Fall … (0 comments)

real estate fraud: Two Men Indicted in Multi-Million-Dollar Mortgage Fraud Scheme - 07/23/14 03:27 PM
Two Men Indicted in Multi-Million-Dollar Mortgage Fraud Scheme
Defendants Allegedly Part of Larger Fraud Against Banks and Lenders Using Washington, D.C.-Area Real Estate WASHINGTON—
Edward Dacy, 76, of West Melbourne, Fla., and
A. Conrad Austin, 49, of Bowie, Md.,
have been indicted on conspiracy, bank fraud, and other federal charges stemming from a multi-million-dollar mortgage fraud scheme in which they are accused of assisting their co-conspirators to defraud banks and mortgage lenders through the purchase of residential real estate in the District of Columbia and Maryland.
The indictment, unsealed today in the U.S. District Court for the District of … (0 comments)

real estate fraud: Mortgage Fraud Blog for July 23, 2014 - 07/23/14 12:47 PM
    Mortgage Fraud Blog sends me an update email once per week. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (2 comments)

real estate fraud: Four Arrested Including RE Attorney On $500k Bank Fraud Charges - 07/22/14 04:04 PM
Four Arrested on Bank Fraud and Conspiracy Charges
Defendants Allegedly Defrauded Bank of America of More Than $500,000 by “Flipping” Property to Catholic All-Girls School for Nearly $1 Million An indictment was unsealed earlier today charging individuals with bank fraud and conspiracy arising from a scheme to take advantage of plans by an all-girls high school in Hempstead, New York, to expand its campus and build an athletic field for students.
The defendants, two couples, including a real estate attorney and the officer of a real property corporation, were arrested earlier today by special agents of the Federal Bureau of Investigation … (4 comments)

 
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