Friday, March 12, 2010
Police Officer Arrested for Mortgage Fraud
Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB.
According to the Complaint, Ragauckas and his wife own property located in Secaucus, New Jersey...
5 Charged in 327 Count Mortgage Fraud Indictment
Martina Duran (a.k.a. Gladys Arroyo), 57, Briarwood, Queens, New York, Roger Arias, 36, Ridgewood, Queens, New York, Aldo Bussi, 41, Levittown, Long Island, New York, Ramon Gaston, 29, New York, and Percy Randall, 54, Westbury, Long Island, New York, have been charged in a 327-count indictment in connection with an approximately $2 million...
Fourth Defendant Pleads Guilty in Mortgage Fraud Scheme
Karen Hewitt, 51, a resident of New York, pled guilty to her role in the scheme in which Michael Cassadei and others used fraudulent loan applications, appraisals, settlement statements, and other false statements and documents to induce the former First Union National Bank of Delaware to finance the sale of Capital Region, New York residential...
Thursday, March 11, 2010
Guilty Plea in Connection With Real Estate Fraud Scheme
Timothy Lynn Beliveau, 42, Mound, Minnesota, man pleaded guilty in federal court to charges related to a real estate fraud scheme that defrauded vulnerable homeowners and induced investors to purchase distressed real estate from those homeowners at inflated prices. Timothy Lynn Beliveau pled guilty to one count of engaging in a monetary...
4 Charged With Purchasing Homes Using Straw Buyers
Sushama Devi Lohia, 71, Newport Beach, California, Supriti Soni, 49, Corona Del Mar, California, Suniti Shah, 48, Newport Beach, California, and Dinesh Valjeebhai Shah, 60, Newport Beach, California, have been charged with conspiracy to commit over $16 million in real estate fraud by forging documents and purchasing homes using "straw buyers."
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Man Sentenced for Stealing More Than $400,000 From Lenders
Micah John Beaumia, 30, Alexandria, Minnesota, was sentenced in federal court for concealing more than $400,000 in payments to himself and others from mortgage loan proceeds. Micah John Beaumia was sentenced to 36 months in prison on one count of wire fraud and one count of money laundering. Beaumia was indicted on May 11, 2009, and pled guilty...
Wednesday, March 10, 2010
Another Metropolitan Money Store Player Indicted
Rolando Alonzo Cousins, a/k/a "Junior", 31, Bowie, Maryland, has been indicted for conspiracy to commit mail fraud, mail fraud, and money laundering, in connection with a massive mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, but left them homeless and with no equity....
Fraudster Sentenced for Submitting False Information to Lenders
Kara E. Robinson- Franks a/k/a Kara E. Garret, a Kansas resident, was sentenced for wire fraud and money laundering in connection to her role in a mortgage fraud scheme.
As previously reported on Mortgage Fraud Blog and per court documents, Robinson - Franks held herself out to be a real estate agent and vice president of Operations and Human...
Father & Daughter Team Charged With Mortgage Fraud
Guadalupe Ramirez and Augustine Ramirez, Bakersfield, California, have been charged in connection with a mortgage fraud scheme.
Per court documents, Guadalupe arranged for his daughter to purchase properties, where, Augustine received kickbacks ranging from $65,000 to $100,000 from the sellers that were not disclosed to the lenders, thus...
Tuesday, March 09, 2010
Participant in 2 Different Mortgage Fraud Schemes Pleads Guilty
John Polosky, 40, McMurray Pennsylvania, pleaded guilty in federal court to charges of wire fraud conspiracy and filing false tax returns.
In connection with the guilty plea and according to court documents, Polosky participated in two different mortgage fraud conspiracies, one in the Western District of Pennsylvania and one in the Eastern...
Charges Filed in Mortgage Fraud Scheme
Gerald James Greenfield, 64, Bloomington, Minnesota, was charged with one count of conspiracy to commit mortgage fraud through the use of wires, four counts of mortgage fraud by means of interstate wire, one count of conspiracy to commit concealment money laundering, and one count of engaging in a monetary transaction with criminally derived...
Man Sentenced for Falsifying Loan Applications
John A. Bui, 46, of San Jose, California was sentenced to 41 months in federal prison and ordered to pay $3,500,000 in forfeiture as a result of his convictions for conspiring to commit wire fraud, destruction of records in a federal investigation, and witness tampering.
As previously reported on Mortgage Fraud Blog and per court information,...
Former Fugitive Sentenced for Mortgage Fraud
Shawn Green, 43, Columbia, Maryland, was sentenced to 151 months in prison followed by five years of supervised release for conspiring to distribute 330 pounds of cocaine. Green was also ordered to forfeit over $914,000 in cash, property purchased in the mortgage fraud scheme, three luxury vehicles and a pickup truck, four bank accounts and an...
Monday, March 08, 2010
Woman Uses Stolen Money to Purchase Residence
Kellie Hampton Bick, 42, Midland, Texas, faces federal prison after pleading guilty to one count of bank fraud and one count of aggravated identity theft.
In documents filed with the court, Bick admitted that starting in February 2009 she began writing checks to herself on bank accounts held by her employer, North Waterfront Corporation (NWC)...
Owner of Mortgage Brokerage Company Sentenced for Mortgage Fraud
Frederick Earle Deen, III, 30, a Minnesota resident and part owner of Legacy Lending, a Minnesota mortgage brokerage company, was sentenced in federal court for bilking lenders out of more than $500,000 through mortgage fraud. Deen was sentenced to 24 months in prison on one count of wire fraud and one count of tax evasion in connection to this...
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
