Hollie Darlene Dustin, 60, Punta Gorda, Florida has pleaded guilty to wire fraud. She faces a maximum penalty of 20 years in federal prison.

According to the plea agreement, Dustin, a licensed real estate broker, owned Home Choice Real Estate (HCRE), a company that contracted with the Federal National Mortgage Association (Fannie Mae) to manage and perform preservation services on various Fannie Mae foreclosed properties and potentially list those properties for sale. As part of a Master Listing Agreement with Fannie Mae, Dustin’s company was prohibited from using any vendors that she controlled or with which she had a conflict of interest to perform preservation services on Fannie Mae properties. Dustin fraudulently used ProPreserve, a company that she controlled, to perform preservation services on the properties without Fannie Mae’s knowledge or consent. Dustin submitted approximately 550 fraudulent ProPreserve invoices to Fannie Mae requesting approximately $146,280.46, which Fannie Mae paid to HCRE.

Dustin also created inflated ProPreserve invoices for work already performed by other vendors, then submitted those false invoices to Fannie Mae for payment.  Dustin used interstate wires to submit the fraudulent invoices to Fannie Mae.

Dustin’s sentencing hearing is scheduled for September 17, 2018.

This case was investigated by the Federal Housing Finance Agency – Office of Inspector General. It is being prosecuted by Assistant United States Attorney Jeffrey F. Michelland.

Jasmin Polanco, 37, Methuen, Massachusetts, a real estate attorney was sentenced today in connection with a sweeping conspiracy to defraud banks and mortgage companies by engaging in sham “short” sales of residential properties in Merrimack Valley, Massachusetts.

Co-defendants Vanessa Ricci, 41, Methuen, Massachusetts , a  mortgage loan officer, pleaded guilty in March 2018 to one count of conspiracy to commit bank fraud and was sentenced to six months in prison, three years of supervised release and ordered to pay restitution of $963,730 http://www.mortgagefraudblog.com/?s=Jasmin+Polanco; Greisy Jimenez, 50, Methuen, Massachusetts , a real estate broker, pleaded guilty to two counts of bank fraud and one count of conspiracy to commit bank fraud and is awaiting sentencing; Hyacinth Bellerose, 51, Dunstable, Massachusetts,  a real estate closing attorney, was sentenced in March 2017 to time served and one year of supervised release to be served in home detention after pleading guilty to conspiracy to commit bank fraud.  Polanco was sentenced by U.S. Senior District Court Judge Douglas P. Woodlock to 15 months in prison, three year of supervised release and ordered to pay $1,224,489 in restitution. In March 2018, Polanco pleaded guilty to one count of conspiracy to commit bank fraud.

The charges arose out of a scheme to defraud various banks via bogus short sales of homes in Haverhill, Lawrence and Methuen, Massachusetts, in which the purported sellers remained in their homes with their debt substantially reduced. A short sale is a sale of real estate for less than the value of any existing mortgage debt on the property. Short sales are an alternative to foreclosure that typically occur only with the consent of the mortgage lender. Generally, the lender absorbs a loss on the loan and releases the borrower from the unpaid balance. By their very nature, short sales are intended to be arms-length transactions in which the buyers and sellers are unrelated, and in which the sellers cede their control of the subject properties in exchange for the short-selling bank’s agreement to release them from their unpaid debt.

The conspiracy began in approximately August 2007 and continued through June 2010, a period that included the height of the financial crisis and its aftermath. Home values in Massachusetts and across the nation declined precipitously, and many homeowners found themselves suddenly “underwater” with homes worth less than the mortgage debt they owed. As part of the scheme, Polanco, Jimenez, Ricci, Bellerose and others submitted materially false and misleading documents to numerous banks in an effort to induce them to permit the short-sales, thereby releasing the purported sellers from their unpaid mortgage debts, while simultaneously inducing the purported buyers’ banks to provide financing for the deals. In fact, the purported sellers simply stayed in their homes, with their debt substantially reduced.

The conspirators falsely led banks to believe that the sales were arms-length transactions between unrelated parties; in fact, the buyers and sellers were frequently related, and the sellers retained control of (and frequently continued to live in) the properties after the sale. The conspirators also submitted phony earnings statements in support of loan applications that were submitted to banks in order to obtain new financing for the purported sales. In addition, the defendants submitted phony “HUD-1 Settlement Statements” to banks that did not accurately reflect the disbursement of funds in the transactions. (HUD-1 Settlement Statements are standard forms that are used to document the flow of funds in real estate transactions. They are required for all transactions involving federally related mortgage loans, including all mortgages insured by the Federal Housing Administration.)

United States Attorney Andrew E. Lelling; Christina Scaringi, Special Agent in Charge of the Department of Housing and Urban Development, Office of Inspector General, New York Field Office; and Christy Goldsmith Romero, Special Inspector General of the Troubled Asset Relief Program, made the announcement. Assistant U.S. Attorney Stephen E. Frank, Chief of Lelling’s Economic Crimes Unit, and Assistant U.S. Attorneys Sara Miron Bloom and Victor A. Wild, also of the Economic Crimes Unit, prosecuted the cases.

Robert Farrace, 54, Modesto, California was sentenced today to two years in prison for a fraudulent short-sale scheme.

On November 14, 2017, a jury found Farrace guilty of three counts of wire fraud in connection with the scheme. According to court documents, Farrace, an attorney specializing in real estate law and the former president of the Stanislaus County Bar Association, owned two properties in Modesto, California with substantial mortgage loans. By early 2010, Farrace was in default and received foreclosure notices for the two properties. In order to keep the properties and avoid foreclosure, Farrace formed an entity called “Dignitas LLC” to purchase the properties.

According to evidence presented at trial, Farrace controlled Dignitas, but listed a friend’s name on the paperwork as a nominal manager because he knew the bank would not sell the property to a related party. Farrace then submitted short sale offers to the bank that serviced the loans on both properties, listing Dignitas and the nominee manager as the purchaser. Farrace misrepresented his relationship to Dignitas to induce the bank to approve the short sale. Because the servicing bank did not know of the true relationship, it went forward and completed one of the short sales. The short sale on the second property was stopped after law enforcement informed the bank of Farrace’s scheme.

U.S. Attorney McGregor W. Scott made the announcement.

This case was the product of an investigation by the Federal Housing Finance Agency–Office of Inspector General, the Federal Bureau of Investigation, and the Stanislaus County District Attorney’s Office. Assistant U.S. Attorneys Michael G. Tierney and Shelley D. Weger prosecuted the case.

Maher Obagi, 32, Huntington Beach, California was sentenced on Tuesday to 78 months in prison and ordered to pay just over $10 million in restitution.  A second defendant, Mohamed Salah, 43, Mission Viejo, California was sentenced to 57 months in prison and was ordered to pay just over $7 million in restitution.    Obagi and Salah were sentenced to federal prison for participating in a “builder bailout” mortgage fraud scheme that resulted in the fraudulent purchase of more than 100 condominium units around the country, causing more than $10 million in losses when the properties went into foreclosure.

Obagi and Salah, along with several co-conspirators http://www.mortgagefraudblog.com/?s=Maher+Obagi , operated the scheme through Excel Investments and related companies that were based in Santa Ana and then Irvine, California. The scheme involved kickbacks from condominium builders during the 2008 financial crisis, kickbacks that were hidden from lenders to convince them to fund loans in excess of actual purchase price.

During the course of the scheme, co-conspirators identified condominium developments around the country in which the builders were struggling to sell units and then arranged with the builders to purchase multiple units at a discount. The builders benefited by making it appear that their condos were selling and maintaining their value, while members of the conspiracy obtained the kickbacks.

The co-conspirators negotiated with condominium builders in California, Florida and Arizona for discount units. The defendants bought units for themselves, their relatives, and on behalf of “straw buyers” whom they brought into the scheme. They identified straw buyers by looking for individuals with good credit scores and then recruited them into the scheme by giving them an upfront payment for their participation and by presenting the scheme as an investment opportunity that required no down payment and would generate income through rental payments.

To obtain mortgages for the properties, Obagi and other co-conspirators prepared loan applications with false information about the straw buyers – including fake employment, income and assets, as well as fabricated W2s, pay stubs and bank statements. The mortgage applications also included false information about the terms of the transactions, such as concealing the large kickbacks from lenders through false and misleading HUD-1 forms. As a result of the false statements in the fraudulent loan applications, mortgage lenders provided over $21 million in financing to purchase more than 100 properties.

Many of these loans went into default, and mortgage lenders lost more than $10 million after foreclosing on the properties. The Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) purchased dozens of these loans on the secondary mortgage market and suffered losses of at least $1.3 million as a result of defaults and foreclosures on the properties.

Both defendants were sentenced by United States District Judge Andrew Guilford.

Following a trial in 2015, Obagi was found guilty of one count of conspiracy and three counts of wire fraud. Salah was found guilty by the same federal jury of one count of conspiracy.

Several other defendants were charged in connection with the same scheme. They are:

  • Ali Khatib, 53, Newport Coast, California who pleaded guilty in a related case and is scheduled to be sentenced on July 16;
  • Momoud Aref Abaji, 37, Huntington Beach, California who was convicted at trial and is scheduled to be sentenced on June 14;
  • Jacqueline Burchell, 57, Orange, California who pleaded guilty and is scheduled to be sentenced on July 16;
  • Wajieh Tbakhi, 53, who is a fugitive; and
  • Mohamed El Tahir, who is now deceased.

This matter was investigated by the Federal Bureau of Investigation; the Federal Housing Finance Agency, Office of the Inspector General; and IRS Criminal Investigation.

The case is being prosecuted by Assistant United States Attorney Kerry L. Quinn of the Major Frauds Section.

Abolghasseni “Abe” Alizadeh, 59, Granite Bay, California was sentenced today to four years and eight months in prison.  Alizadeh pleaded guilty on January 12, 2018 to wire fraud, bank fraud and making false statements to a federally insured financial institution.

According to court documents, Alizadeh, a Sacramento-area commercial real estate developer, restaurateur and owner of Kobra Properties, came up with a scheme to fraudulently purchase land that he planned to develop. Banks usually loan up to 60 to 65 percent of the loan to-value ratio (LTV) on undeveloped commercial property. (LTV ratio is the comparison between the amount of the loan and the value of the property.) To circumvent the banks and fraudulently get a higher level of financing, Alizadeh submitted altered purchase contracts to the banks that greatly inflated the purported purchase price. The banks, which competed for Alizadeh’s business, were unaware that the purchase prices were inflated and sometimes loaned well in excess of the loan-to-value ratio. By concealing the true purchase price from the banks, Alizadeh received substantial amounts of cash, sometimes millions of dollars, at the close of escrow and avoided making the full down payment or, in some instances, any down payment.

Alizadeh was assisted in this scheme by co-defendant Mary Sue Weaver, 64, currently of Scottsdale, Arizona and formerly of Lincoln, California, who was employed at a local title company. According to the plea agreement, Alizadeh would write checks for the down payment, but because he lacked funds to cover the checks, he would call Weaver and ask her to delay depositing the checks until after escrow closed. Once escrow closed, Weaver disbursed funds from the title company’s escrow trust account to Kobra Properties. Kobra Properties then used those funds to cover its down payment and other costs. In this way, it appeared as though Alizadeh was making a substantial down payment when in fact he was not.

On April 29, 2005, Alizadeh submitted a fraudulent purchase contract to Central Pacific Bank, which induced the bank to lend him nearly $4 million for the purchase of 10.3 acres of property. This loan represented over 96 percent loan-to-value ratio. Similarly, on October 21, 2005, Alizadeh received over $22 million in funding and loans to purchase the Turtle Island property, when in actuality, the original purchase price was $10 million. In March 2006, Alizadeh also falsely claimed to Bank of Sacramento that he was paying $36 per square foot for a piece of property where he intended to build a TGI Friday’s restaurant. In reality, Alizadeh was paying only $21 per square foot. This resulted in a $650,000 inflation of the true purchase price. Alizadeh’s entire scheme, involving no fewer than six properties in the Sacramento area, resulted in a loss to various financial institutions of over $22 million.

U.S. District Judge Garland E. Burrell Jr. also ordered Alizadeh to pay $15,879,945 in restitution to the victims of his crimes.

On December 15, 2017, Weaver pleaded guilty to one count of wire fraud and one count of bank fraud and is scheduled for sentencing on June 22, 2018. She faces a maximum statutory penalty of 30 years in prison on each count and a $1 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

The announcement was made by U.S. Attorney McGregor W. Scott.

The defendant used his reputation as a local business leader to perpetrate a complex fraud scheme to enrich himself at the expense of others,” stated U.S. Attorney Scott. “The U.S. Attorney’s Office will continue to work diligently with its law enforcement partners to expose schemes like this and bring criminals like the defendant to justice.

The scope of the fraud is staggering,” said Michael T. Batdorf, Special Agent in Charge, IRS Criminal Investigation. “As a well-known real-estate developer, title companies and banks competed for Mr. Alizadeh’s business. He submitted altered purchase contracts that greatly inflated the purchase price. This scheme cost financial institutions over $22 million. While this sentence cannot reverse the damage caused by Alizadeh and his co-defendant, it highlights the ongoing commitment of IRS-CI to hold accountable those involved in these types of crimes.

Today’s sentencing holds defendant Alizadeh accountable for causing more than $22 million in losses to the financial institutions, by corruptly inflating the value of property to obtain millions of dollars in fraudulent bank loans,” stated FDIC Inspector General Jay N. Lerner. “This case is a powerful example of law enforcement cooperation to combat fraud and bring such swindlers to justice.”

This case is the product of an investigation by the Federal Bureau of Investigation, the IRS Criminal Investigation, and the Federal Deposit Insurance Corporation, Office of Inspector General. Assistant U.S. Attorneys Michael D. Anderson and Heiko P. Coppola are prosecuting the case.

Terrell Hampton, 37, was sentenced today to 119 months in prison for defrauding the City of Philadelphia, the Commonwealth of Pennsylvania, and innocent owners and purchasers of Philadelphia, Pennsylvania real estate.

Terrell Hampton, along with his father Kenneth Hampton and other family members, stole vacant homes in Philadelphia, Pennsylvania that belonged to people who could not afford to defend their properties. Kenneth Hampton was convicted and sentenced to 200 months in prison in November.

At the direction of his father, who was in prison at the time, Terrell looked for vacant properties to target, created and filed fraudulent deeds, sought buyers for the stolen properties, and kept Kenneth apprised of scheme developments. They communicated through phone calls, emails, and letters, as well as through Kenneth’s fiancée, co-conspirator Roxanne Mason.

The participants in the scheme moved into the stolen properties under the cover of fake leases that purported to grant them the right to occupancy.  They then found ways to profit from the stolen properties, either by selling the homes to good faith purchasers, by saddling them with debt, or by taking advantage of government programs designed to aid legitimate homeowners.

The announcement was made by U.S. Attorney William M. McSwain.

This defendant stole from people who didn’t have the resources to fight back, often resulting in victim battling against victim, homeowner against good faith purchaser,” said U.S. Attorney McSwain. “He lived up to the low example set by his father, and I am proud that the talented case team has put both of them behind bars.”

The case was investigated by the United States Secret Service, Department of Homeland Security – Office of the Inspector General, Federal Bureau of Investigation, and the Office of the Inspector General, City of Philadelphia.  The case was prosecuted by Assistant United States Attorneys Paul G. Shapiro and Sarah M. Wolfe

On May 18, 2018,  Attorney General Bob Ferguson filed a lawsuit against Kirkland and Portland, Oregon based Real Estate Investment Network, LLC (REIN), a company accused of scamming foreclosed homeowners out of equity in the form of surplus funds from the foreclosure sale to halt its deceptive practices while the state’s lawsuit progresses. REIN had been charging up to 67 percent of surplus funds it recovers for homeowners following a foreclosure sale. These fees amounted to tens of thousands of dollars for each homeowner.

With the real estate market booming, foreclosure sales can bring in more money than is owed on the mortgage. Homeowners can often recover these “surplus funds” through a relatively simple process with the court.

REIN approached foreclosed homeowners soon after the foreclosure sale, before they receive notice that surplus funds are available.

REIN’ misrepresented  the process for recovering surplus funds, telling consumers the process could take up to a year and will be near impossible without their help. REIN then offered to help the consumer recover the funds in exchange for a fee, but presented documentation giving REIN all the rights to the surplus funds. Although REIN returned a percentage of the recovered surplus funds to the consumer, REIN’s cut often exceeded 50 percent of the total recovery and was sometimes as high as 67 percent.

REIN omitted any information about the amount of surplus funds available, which can exceed $100,000. In one instance, the foreclosure sale led to $134,000 in surplus funds, and under the terms of its contract, REIN would recover around $90,000 for its services. In another case, REIN’s contract allowed it to recover about $88,000 of more than $141,000 in surplus funds.

My office is a watchdog for homeowners facing foreclosure,” Ferguson said. “I will hold companies that prey on homeowners facing foreclosure accountable.”

Judge Catherine Moore, a King County Superior Court judge granted an agreed order for a preliminary injunction, which, among other restrictions, prevents REIN from collecting more than the 5 percent allowed by law.

The order prevents REIN from:

  • Making misrepresentations or material omissions to consumers about surplus funds;
  • Charging homeowners more than 5 percent of recovered surplus funds plus reasonable costs not to exceed $225; and
  • Failing to disclose all the information REIN knows about a consumer’s foreclosed property, including the foreclosure sale price, liens on the property and the amount of recoverable surplus funds.

One victim told KING 5 news that when he learned the true amount of the surplus funds available, he thought, “We were getting scammed. Totally.”

Dean Rossi, 49, Warrington, Pennsylvania, was found guilty by a federal jury yesterday of bank, mail and loan fraud in connection with a mortgage scheme.

Rossi, who owned numerous low-income properties throughout the Philadelphia area, misappropriated more than $643,000 from real estate closings. Specifically, after obtaining bank loans to purchase or refinance residential properties, Rossi teamed up with corrupt title/closing agents to divert a substantial portion of the loan proceeds, and then he pocketed cash from the settlements which should have been used to pay off prior mortgages and tax liens. In addition, to prevent the scheme from being detected, Rossi continued to cause payments to be made on the prior existing mortgages years after those loans were supposed to have been paid in full.

Rossi faces a maximum possible sentence of 120 years’ imprisonment, five years of supervised release, and a $4 million fine.

The announcement was made by U.S. Attorney William M. McSwain.

Our investigators and trial team did a phenomenal job of following a trail of evidence that goes back more than a decade,” said U.S. Attorney McSwain. “The defendant went to great lengths to cover his tracks, but due to the hard work of our agents and prosecutors, his long-running scheme was exposed.”

The case was investigated by the U.S. Postal Inspection Service and the Federal Bureau of Investigation, and is being prosecuted by Assistant United States Attorney Joel Goldstein.

Vanessa Ricci, 41, Methuen, Massachusetts, a mortgage loan officer, was sentenced yesterday in federal court in connection with a sweeping conspiracy to defraud banks and mortgage companies by engaging in sham “short” sales of residential properties in Merrimack Valley, Massachusetts.

Ricci was sentenced to six months in prison, three years of supervised release and ordered to pay restitution of $963,730. In March 2018, Ricci pleaded guilty to one count of conspiracy to commit bank fraud. http://www.mortgagefraudblog.com/?s=Vanessa+Ricci

Co-defendants Jasmin Polanco, 37, a real estate closing attorney, previously pleaded guilty to one count of conspiracy to commit bank fraud and is scheduled to be sentenced on June 21, 2018;  Greisy Jimenez, 50, pleaded guilty to two counts of bank fraud and one count of conspiracy to commit bank fraud and is scheduled to be sentenced on June 6, 2018; Hyacinth Bellerose, 51, a real estate closing attorney, was sentenced in March 2017 to time served and one year of supervised release to be served in home detention after pleading guilty to conspiracy to commit bank fraud.

The charges arose out of a scheme to defraud various banks via bogus short sales of homes in Haverhill, Lawrence and Methuen, Massachusetts in which the purported sellers remained in their homes, with their debt substantially reduced. A short sale is a sale of real estate for less than the value of any existing mortgage debt on the property. Short sales are an alternative to foreclosure that typically occur only with the consent of the mortgage lender. Generally, the lender absorbs a loss on the loan and releases the borrower from the unpaid balance. By their very nature, short sales are intended to be arms-length transactions in which the buyers and sellers are unrelated, and in which the sellers cede their control of the subject properties in exchange for the short-selling bank’s agreement to release them from their unpaid debt.

The conspiracy began in approximately August 2007 and continued through June 2010, a period that included the height of the financial crisis and its aftermath. Home values in Massachusetts and across the nation declined precipitously, and many homeowners found themselves suddenly “underwater” with homes worth less than the mortgage debt they owed. As part of the scheme, Jimenez, Polanco, Ricci, Bellerose and others submitted materially false and misleading documents to numerous banks in an effort to induce them to permit the short-sales, thereby releasing the purported sellers from their unpaid mortgage debts, while simultaneously inducing the purported buyers’ banks to provide financing for the deals. In fact, the purported sellers simply stayed in their homes, with their debt substantially reduced.

The conspirators falsely led banks to believe that the sales were arms-length transactions between unrelated parties; in fact, the buyers and sellers were frequently related, and the sellers retained control of (and frequently continued to live in) the properties after the sale. The conspirators also submitted phony earnings statements in support of loan applications that were submitted to banks in order to obtain new financing for the purported sales. In addition, the defendants submitted phony “HUD-1 Settlement Statements” to banks that did not accurately reflect the disbursement of funds in the transactions. (HUD-1 Settlement Statements are standard forms that are used to document the flow of funds in real estate transactions. They are required for all transactions involving federally related mortgage loans, including all mortgages insured by the Federal Housing Administration.)

United States Attorney Andrew E. Lelling; Christina Scaringi, Special Agent in Charge of the Department of Housing and Urban Development, Office of Inspector General, New York Field Office; and Christy Goldsmith Romero, Special Inspector General of the Troubled Asset Relief Program, made the announcement.  Assistant U.S. Attorney Stephen E. Frank, Chief of Lelling’s Economic Crimes Unit, and Assistant U.S. Attorneys Sara Miron Bloom and Victor A. Wild, also of the Economic Crimes Unit, prosecuted the cases.

Joseph DiValli, Jackson, New Jersey, was sentenced today to 18 months in prison for his role in a large-scale mortgage fraud scheme that used phony documents and straw buyers to acquire more than $6 million in loans.

According to documents filed in this case and statements made in court: http://www.mortgagefraudblog.com/?s=Joseph+DiValli+

From March 2011 through November 2012, DiValli and other conspirators agreed to fraudulently obtain mortgage loans for properties located in North Jersey, New Jersey. After recruiting “straw buyers” to purchase the properties, DiValli and others submitted false and fraudulent loan applications and supporting documents so the straw buyers could qualify for the loans. DiValli and others also used another conspirator, who worked at a bank, to create misleading certifications showing certain bank accounts held more money than they actually had. DiValli and other conspirators also submitted false appraisal reports, backdated deeds and used unlicensed title agents to close transactions and disburse the mortgage proceeds.

As a loan officer for a North Jersey mortgage lender, DiValli facilitated some of these fraudulent transactions, including a $244,855.26 mortgage on a property located on Smith Street, Elizabeth, New Jersey. Overall, the scheme induced lenders to issue more than $6 million in loans, resulting in several defaults and exposing lenders and the Federal Housing Administration (FHA) to more than $2 million in potential losses.

DiValli also admitted using a separate scheme to modify the mortgage on his personal residence. From March 2011 through June 2012, Divalli used false payroll ledgers and earnings statements to deceive a loan officer into believing that his net earnings were lower than his actual income level.

DiValli also admitted receiving income of more than $450,000 in 2012. In order to avoid taxes of $79,000, DiValli failed to file taxes for 2012 and cashed his paychecks at a check-cashing facility to conceal his income.

DiValli previously pleaded guilty before U.S. District Judge Susan D. Wigenton to a superseding information charging him with one count of conspiracy to commit wire fraud, one count of wire fraud and one count of tax evasion. Judge Wigenton imposed the sentence today in Newark federal court.

In addition to the prison term, Judge Wigenton sentenced DiValli to three years of supervised release and ordered to pay restitution of $2,322,045.

U.S. Attorney Craig Carpenito made the announcement and credited law enforcement agents of the FBI Newark Mortgage Fraud Task Force, under the direction of Special Agent in Charge Gregory W. Ehrie; postal inspectors of the U.S. Postal Inspection Service, under the direction of Acting Inspector in Charge Ruth M. Mendonca; special agents of the U.S. Department of Housing and Urban Development, Office of Inspector General, under the direction of Special Agent in Charge Christina Scaringi; special agents of the Federal Housing Finance Agency, Office of Inspector General, under the direction of Special Agent in Charge Steven Perez; special agents of the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), under the direction of Special Inspector General Christy Goldsmith Romero; special agents of IRS–Criminal Investigation, under the direction of Acting Special Agent in Charge Bryant Jackson; and the Hudson County Prosecutor’s Office, under the direction of Prosecutor Esther Suarez, for the investigation leading to today’s sentencing.

The government is represented by Assistant U.S. Attorneys Lakshmi Srinivasan Herman of the National Security Unit, Andrew Kogan of the Cyber Unit, and Senior Litigation Counsel Barbara Ward of the Asset Recovery and Money Laundering Unit.

Defense counsel: Michael A. Koribanics Esq. Clifton, New Jersey.