real estate fraud: Paralegal Sentenced for Defrauding Mortgage Lenders - Over $1.8Million - 08/06/14 04:13 PM
Branford Paralegal Sentenced to Federal Prison for Defrauding Mortgage Lenders Out of More Than $1.8 Million
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that
JACQUELINE POLVERARI, 47, of Branford,
was sentenced today by U.S. District Judge Janet Bond Arterton in New Haven to 12 months and one day of imprisonment, followed by three years of supervised release, for arranging a series of fraudulent mortgage loan refinancing transactions.
According to court documents and statements made in court, POLVERARI, a paralegal, owned and operated various companies that specialized in preparing real estate closing documents and conducting … (15 comments)

real estate fraud: Real Estate Fraud Report for August 6, 2014 - 08/05/14 10:46 PM
 

 
 
 
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real estate fraud: Mortgage Fraud Blog for August 6, 2014 - 08/05/14 10:38 PM
    Mortgage Fraud Blog sends me an update 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 … (0 comments)

real estate fraud: Modesto Man Arrested for Defrauding Real Estate Investors - 08/05/14 05:06 PM
Modesto Man Arrested for Defrauding Real Estate Investors
FRESNO, CA—
Xue Heu, 37, of Modesto,
was arrested this morning following an indictment by a federal grand jury charging him with wire fraud in connection with a fraudulent real estate investment scheme, United States Attorney Benjamin B. Wagner announced. Heu is scheduled to be arraigned on the indictment before U.S. Magistrate Judge Gary S. Austin today at 1:30 p.m.
According to the indictment, between August 2007 and October 2013, Heu solicited individuals to invest in real estate businesses that purchased and sold real estate.
Heu claimed to be an officer … (2 comments)

real estate fraud: Accountant Sentenced to 57 Months in Prison for Mortgage Fraud Scheme - 08/05/14 05:01 PM
Accountant Sentenced to 57 Months in Prison for Mortgage Fraud Scheme
LAS VEGAS, NV—A California accountant was sentenced today to 57 months in federal prison and ordered to pay approximately $1.1 million in restitution for her role in a mortgage fraud scheme in southern Nevada, announced Daniel G. Bogden, United States Attorney for the District of Nevada.
Carmen Denise Mosley, 44, of Granada Hills, Calif.,
was sentenced by Senior U.S. District Judge Kent J. Dawson. Mosley was convicted by a jury on May 6, 2014, of one count of conspiracy to commit bank and wire fraud and two counts … (0 comments)

real estate fraud: Six Charged in $2.7 Million Fraud - Mortgage, Student and SB Loans - 08/01/14 01:34 PM
Six Defendants Charged in Separate Fraud Schemes to Obtain $2.7 Million in Mortgage, Student Aid, Bank, and Small Business Loans
CHICAGO—Six defendants are facing federal fraud charges involving separate schemes to obtain a total of more than $2.7 million through fraudulent statements in loan applications submitted to banks, mortgage lenders, several community colleges, the U.S. Department of Education, and the Small Business Administration since 2006. Five of the defendants were indicted together yesterday for scheming to fraudulently obtain more than $2.4 million. The sixth defendant, who alone was arrested today, was indicted separately for allegedly scheming to fraudulently obtain an … (6 comments)

real estate fraud: Ex Credit Suisse VP Sentenced for Scheme to Hide MBS Losses - 08/01/14 12:46 PM
Former Credit Suisse Vice President Sentenced in Manhattan Federal Court in Connection with Scheme to Hide Losses in Mortgage-Backed Securities Trading Book
Preet Bharara, the United States Attorney for the Southern District of New York, announced that
SALMAAN SIDDIQUI,
a former Vice President in
the Investment Banking Division
of Credit Suisse Group
(“Credit Suisse”),
was sentenced yesterday to time served in connection with a scheme to hide more than $100 million in losses in a mortgage-backed securities trading book at Credit Suisse. On February 1, 2012, SIDDIQUI pled guilty, pursuant to a cooperation agreement, to … (0 comments)

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 … (4 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, … (2 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)

 

Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
Nothing will be published that has not been verified via the public record or consent provided.
Please contact David Saks with any questions.



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