real estate fraud: Man Admits Role in Mortgage Fraud Scheme - 03/12/14 03:27 PM
Trumbull Man Admits Role in Mortgage Fraud Scheme The United States Attorney for the District of Connecticut announced that
MOHAMMED N. ISLAM, also known as “Tanveer,” 38, of Trumbull,
waived his right to indictment and pleaded guilty today before U.S. Magistrate Judge Leslie G. Foschio in Bridgeport to conspiring to defraud financial institutions through an extensive mortgage fraud scheme that involved dozens of properties in Fairfield County.
According to court documents and statements made in court, between 2006 and 2013, ISLAM participated in a mortgage fraud conspiracy that involved the purchase of numerous single and multi-family properties, primarily in … (0 comments)

real estate fraud: Two Northern California Real Estate Investors Charged with Bid Rigging - 03/12/14 12:07 PM
Two Northern California Real Estate Investors Charged with Bid Rigging at Public Foreclosure Auctions
Investigation Has Yielded 46 Plea Agreements to Date WASHINGTON—Two Northern California real estate investors pleaded guilty for their roles in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced.
Felony charges were filed on June 30, 2011 in the U.S. District Court for the Northern District of California in Oakland against Grant Alvernaz, of Pleasant Hill, California, and Douglas Moore, of Walnut Creek, California. Alvernaz pleaded guilty to the charges on September 7, … (0 comments)

real estate fraud: Former Banker Sentenced for Fraud Scheme - 03/12/14 12:01 PM
Former Banker Sentenced for Fraud Scheme Daniel Mumbower, 35, a former banker, of Glassboro, New Jersey, was sentenced today to 41 months in prison for two counts of bank fraud and one count of receiving bribes by a bank employee for his role in a scheme that defrauded lenders of nearly $3 million. U.S. District Court Judge C. Darnell Jones, II, also ordered three years of supervised release, a $300 special assessment, restitution of $2,718,758, and forfeiture of $2,516,317. Mumbower must surrender to the Bureau of Prisons on May 14, 2014.
Mumbower worked as a financial specialist at Wachovia Bank in … (0 comments)

real estate fraud: Man Sentenced to Almost Five Years in Prison for Las Vegas Mort Fraud - 03/11/14 10:40 AM
Man Sentenced to Almost Five Years in Prison for Las Vegas Mortgage Fraud Scheme
LAS VEGAS, NV—A Henderson, Nevada man has been sentenced to 57 months in prison and ordered to pay $834,000 in restitution for his role in a mortgage fraud scheme that caused over $1 million in losses to federally insured financial institutions, announced Daniel G. Bogden, United States Attorney for the District of Nevada.
Lance Kellow, 37, was sentenced on Friday, March 7, 2014, by U.S. District Judge Gloria M. Navarro. Kellow was convicted by a jury in March 2013 of one count of conspiracy to commit … (2 comments)

real estate fraud: Commercial Real Estate Agent Sentenced for Fraud, Bankruptcy Charges - 03/10/14 09:46 PM
Businessman Sentenced on Fraud, Bankruptcy Charges
Michael Wayne Harding Admits to Criminal Misconduct CHARLOTTESVILLE, VA—A local businessman and former commercial real estate agent who pled guilty last year to a variety of federal fraud charges was sentenced today in the United States District Court for the Western District of Virginia in Charlottesville.
Michael Wayne Harding, 59, of Keswick, Virginia, previously waived his right to be indicted and entered a plea of guilty to one count of wire fraud and one count of bankruptcy fraud. Today in district court, Harding was sentenced to 30 months of federal incarceration. In addition, the defendant … (2 comments)

real estate fraud: Woman Sent to Prison for 3+ Years for Defrauding Nuns in Home Purchase - 03/10/14 10:25 AM
Orange County Woman Sentenced to More Than Three Years in Prison for Defrauding Nuns
SANTA ANA, CA—An Irvine woman was sentenced today to 37 months in federal prison for defrauding a group of Roman Catholic Sisters of $285,000, which she misappropriated and spent for her own use after promising to use the money to help the nuns purchase a retirement home.
Linda Rose Gagnon, 59, was sentenced by United States District Judge Andrew J. Guilford, who presided over Gagnon’s trial last year.
Gagnon was found guilty of three counts of wire fraud in November for defrauding the U.S. Province of … (4 comments)

real estate fraud: Man Sent to Prison for Bribery, Kickback, and Bid-Rigging - 03/04/14 11:06 AM
Eagle Pass Businessman Sentenced to Federal Prison in Connection with Maverick County Bribery, Kickback, and Bid-Rigging Scheme In Del Rio this afternoon, 35-year-old Hipolito Amaya, owner of AM-ROD Construction based in Eagle Pass, was sentenced to 41 months in federal prison for his role in connection with an alleged bribery, kickback, and bid-rigging scheme in Maverick County, announced United States Attorney Robert Pitman and Acting FBI Special Agent in Charge Aaron C. Rouse.
In addition to the prison term, U.S. District Judge Alia Moses ordered that Amaya pay $35,800 restitution to Maverick County. Judge Moses also ordered that Amaya be placed … (0 comments)

real estate fraud: How Much Real Estate Fraud Will Occur Over the Next 12 Months ? - 03/03/14 10:10 PM
This is a raw prediction.

But if the frequency of real estate crimes, criminals and lender losses start pumping up, my prediction might get close to the graph's image.
How can we stop it ?
With springtime on the way and brokers, buyers and sellers prepping for the busy season, this nation's real estate professionals need to prep for new audits and close scrutiny from industry watchdogs who are out to protect America's consumers from the worst economic plague in history.
Click the pie chart above or this little red button to reach your own conclusions :
(6 comments)

real estate fraud: Woman Guilty of $6.9 Mil Real Estate Ponzi Scheme Fraud - 02/28/14 04:04 PM
Oceanside Woman Pleads Guilty to Defrauding Investors of $6.9 Million in a Real Estate Ponzi Scheme Earlier today, Laurie Schneider pleaded guilty at the federal courthouse in Central Islip, New York, to wire fraud. The proceeding took place before United States District Judge Dennis R. Hurley. When sentenced, Schneider faces up to 20 years in prison. As part of her plea agreement with the government, Schneider agreed to a $1 million money judgment payable to the United States.
The guilty plea was announced by Loretta E. Lynch, United States Attorney for the Eastern District of New York, and George Venizelos, Assistant … (2 comments)

real estate fraud: Former Dublin Ohio Resident Guilty of $10 Million Real Estate Scam - 02/28/14 08:55 AM
Former Dublin Resident Pleads Guilty to Fraud, Money Laundering, Tax Crimes in $10 Million Real Estate Scam COLUMBUS—Haider Zafar, 36, formerly of Dublin, Ohio, pleaded guilty in U.S. District Court to multiple wire fraud, money laundering, and federal income tax charges relating to his $10 million fraud scheme involving false representations about investments in Pakistani real estate.
Carter M. Stewart, United States Attorney for the Southern District of Ohio ,and Kathy A. Enstrom, Special Agent in Charge, Internal Revenue Service (IRS), Criminal Investigation, Cincinnati Field Office, announced the pleas entered today before U.S. District Judge Edmund A. Sargus, Jr.
Zafar pleaded … (0 comments)

real estate fraud: Escrow Company Executive Allegedly Misused Customers’ Funds - 02/28/14 06:56 AM
Escrow Company Executive Allegedly Misused Customers’ Funds
Employee Charged Separately with Stealing from Company CHICAGO—The co-founder and president of a defunct mortgage escrow company was indicted on federal fraud charges for allegedly misappropriating more than $500,000 of customer funds for his own personal use, as well as to pay operating expenses of two other businesses.
The defendant, Derek Lurie, who controlled American Escrow LLC until it collapsed in March 2009, was charged with five counts of mail fraud in an indictment returned by a federal grand jury yesterday and announced today. Lurie also allegedly engaged in a Ponzi-type scheme … (0 comments)

real estate fraud: Woman Guilty in N Texas Mortgage Fraud Conspiracy - Nearly $4m Fraud - 02/26/14 03:09 PM
Escrow Officer Guilty in North Texas Mortgage Fraud Conspiracy
Final Defendant’s Guilty Plea Brings Closure to Nearly $4 Million Fraud SHERMAN, TX—A 35-year-old Edinburg, Texas woman has pleaded guilty to federal charges in connection with a mortgage fraud scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales.
Lacie Devine pleaded guilty to conspiracy to commit mail fraud today before U.S. Magistrate Judge Amos L. Mazzant. She is the remaining defendant associated with five others in the same conspiracy to plead guilty to the mortgage fraud scheme.
According to information presented in court, from March 2008 through February … (0 comments)

real estate fraud: Former Broker and Son Sentenced in $30 Million Mortgage Fraud Scheme - 02/25/14 03:24 PM
Father and Son Sentenced in $30 Million Bakersfield Mortgage Fraud Scheme
FRESNO, CA—United States District Judge Lawrence J. O’Neill sentenced Bakersfield residents Carlyle “Carl” Lee Cole, 66, to 17 years and seven months in prison and Caleb Lee Cole, 37, to six months in prison for charges stemming from their involvement in an extensive mortgage fraud scheme that ran from January 2004 to September 2007, United States Attorney Benjamin B. Wagner announced.
Carl Cole was ordered to pay $28,516,887 in restitution to lenders. He was taken into custody after today’s hearing. Caleb Cole was ordered to pay $663,950 in restitution … (6 comments)

real estate fraud: Real Estate Consultant Sentenced - 20 Months in Prison for HELOC Fraud - 02/24/14 07:13 AM
Burlington Real Estate Consultant Sentenced to 20 Months in Prison
Helped Clients Fraudulently Obtain Multiple Home Equity Loans CAMDEN, NJ—A real estate consultant was sentenced today to 20 months in prison for helping five people defraud banks by obtaining multiple home equity loans on the same property, U.S. Attorney Paul J. Fishman announced.
William Barksdale, 47, of Burlington, New Jersey, previously pleaded guilty before U.S. District Judge Robert B. Kugler to an information charging him with one count of conspiracy to commit wire fraud. Judge Kugler imposed the sentence today in Camden federal court.
According to documents filed in this … (0 comments)

real estate fraud: Woman Sentenced for Mortgage Fraud, 36 Homes & $20 Million in Loans - 02/21/14 01:28 PM
Former Broadlands Loan Officer Sentenced in Mortgage Fraud Scheme
Straw Buyers, False Applications Used to Buy 36 Homes with $20 Million in Loans ALEXANDRIA, VA—Ging—Hwang “Felicia” Tsoa, 59, of Broadlands, Virginia, was sentenced today to 30 months in prison, followed by three years of supervised release, for her role in a mortgage fraud conspiracy that involved approximately 36 properties in Northern Virginia and nearly $20 million in fraudulently obtained loans. Tsoa also was ordered to pay approximately $1.4 million in restitution to lenders and to forfeit to the government $45,738 in proceeds of her crimes.
Dana J. Boente, Acting United States … (2 comments)

real estate fraud: Woman Guilty of Bid Rigging & Fraud at Public Foreclosure Auctions - 02/21/14 07:25 AM
  Georgia Real Estate Investor Pleads Guilty to Bid Rigging and Fraud at Public Real Estate Foreclosure Auctions   A Georgia real estate investor pleaded guilty today for her role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia, the Department of Justice announced.
Felony charges were filed on December 19, 2013 in the U.S. District Court for the Northern District of Georgia in Atlanta against Amy James. According to court documents, from as early as December 6, 2005 until at least January 23, 2009, James conspired with others not to bid against … (0 comments)

real estate fraud: Former Official Guilty of Accepting Bribes for HUD Grant Awards - 02/21/14 07:16 AM
Former Bayonne Official Admits Accepting $65,000 in Bribes for Awarding HUD Grant Funds TRENTON, NJ—A Hudson County, New Jersey man who served as the senior accountant of the City of Bayonne Department of Community Development (CBDCD) today admitted accepting $65,000 in bribe payments in exchange for his assistance in awarding projects funded by U.S. Department of Housing and Urban Development grants, U.S. Attorney Paul J. Fishman announced.
Anselmo Crisonino, 53, of Bayonne, pleaded guilty before U.S. District Judge Peter G. Sheridan in Trenton federal court to a four-count information charging him with one count of accepting bribe payments totaling approximately $65,000 … (2 comments)

real estate fraud: Yet Another Shyster Guilty of Real Estate Fraud - 02/18/14 10:20 AM
Stamford Attorney Admits Role in Mortgage Fraud Scheme The United States Attorney for the District of Connecticut today announced that, on February 12, Christopher Brecciano, 35, of Stamford, waived his right to indictment and pleaded guilty in Bridgeport federal court to conspiring to defraud financial institutions through an extensive mortgage fraud scheme that involved dozens of properties in Fairfield County.
According to court documents and statements made in court, between 2006 and 2010, Brecciano, while working as an associate at a Stamford law firm, participated in mortgage fraud conspiracy that involved the purchase of numerous single and multi-family properties, primarily in … (4 comments)

real estate fraud: Former Attorney Indicted for Lying to Federal Investigators - 02/14/14 09:57 AM
Former Attorney Indicted for Lying to Federal Investigators About His Role in Million-Dollar Fraud Scheme
At Least 10 Families Fells Victim to the Scheme, Causing Some to Lose Their Homes Earlier today, an indictment was unsealed charging disbarred New York attorney Barry Stephen Zornberg with lying to federal investigators about his role in a foreclosure rescue fraud scheme.
The scheme ensnared at least 10 families, defrauding them of approximately $1.3 million in home equity and causing some of them to lose their homes.
If convicted, Zornberg faces up to five years of imprisonment.
The charges, arrests, and seizures were announced by … (2 comments)

real estate fraud: Memphis Woman Sentenced to 57 Months Prison in Mortgage Fraud Scheme - 02/14/14 09:50 AM
Memphis Woman Sentenced to 57 Months in Prison in Mortgage Fraud Scheme
MEMPHIS—Sylvia Denise Cathey, 46, of Memphis, Tennessee, was sentenced yesterday to 57 months in federal prison following her guilty plea to one count of mail fraud and one count of money laundering, announced U.S. Attorney Edward L. Stanton, III.
According to the facts alleged in the indictment and revealed in open court, Cathey was engaged in a mortgage fraud scheme that utilized third parties as straw buyers. As part of her plea agreement, Cathey admitted that on March 22, 2007, she knowingly sent a package of fraudulent documents … (0 comments)

 
David Saks, Memphis, Tennessee (The Real Estate Mart of Tennessee, Inc.) Rainmaker large

David Saks

Memphis, Tennessee

Memphis, TN

More about me…

The Real Estate Mart of Tennessee, Inc.

Address: 4040 North Watkins, Suite #4, Memphis, TN, 38127

Office: (901) 872-8888

Office: (901) 357-4663

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find TN real estate agents and Memphis real estate on ActiveRain.