A New York attorney who is serving a 10-year sentence for mortgage fraud has been disbarred by a state appellate court.
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The Financial Crimes Enforcement Network (FinCEN), in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up 31 percent from 19,420 in the first quarter of 2010. FinCEN attributes the increase to large mortgage lenders conducting additional reviews after receiving demands to repurchase poorly performing mortgage
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Reports of mortgage fraud in the U.S. rose 31% in the first three months of this year as banks scoured their files for shady loans made during the housing boom, according to a government report…
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A federal grand jury returned an eight-count indictment this week charging five individuals relating to their operation of a mortgage fraud conspiracy in the Dallas-Fort Worth, Texas (DFW) area.
Fredrick Lee Moore, 38, Dallas, Texas; Fredrick Barnard Lynch, 39, Desoto, Texas; Continue Reading...
James and Wendy Ober, Hudson, Wisconsin, Raul Burgos Pliego, Farmington, Minnesota, and Alejandro (Alex) Sanchez aka Silverio Alejandro Sanchez Cruz, Bloomington, Minnesota, were charged with racketeering in a
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The defendants swindled others to collect millions of dollars in proceeds from mortgage loans…
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Federal prosecutors are seeking a life sentence for the man convicted of orchestrating a $3-billion fraud while running what had been one of America’s largest private mortgage companies.
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Stephen M. Gunther, 40, Hertford, North Carolina, pled guilty in Norfolk, Virigina, federal court to wire fraud in connection with a scheme to defraud commercial mortgage lenders. Gunther entered his guilty plea before United States District Judge Raymond A. Jackson and is set to be sentenced on June 21, 2010.
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Cedric Nelson, 51, Las Vegas, Nevada, who owns and operates an accounting company, was arrested on mortgage fraud charges and is scheduled to appear in federal court for an arraignment.
Nelson is charged in a criminal indictment with two counts of wire fraud. The indictment was returned by the federal grand jury on May 25, 2011, and unsealed following his arrest.
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Paul Allen, 55, Oakton, Virginia, the former chief executive officer (CEO) of Taylor, Bean & Whitaker (TBW) was sentenced to 40 months in prison for his role in a more than $2.9 billion fraud scheme that contributed to the failure of TBW.
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