William Arthur Sassman II, 42, Sacramento, California, who looted the life savings of dozens of investors to bankroll his own lavish lifestyle and finance his own investments, was sentenced to 18 years in prison.
Sassman convinced people who had painstakingly saved for their retirement that he could make a lot of money for them. Instead he used their money for his fine clothing,
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Title Compliance, a company using a Las Vegas post office box that is sending notices to Nevada homeowners regarding property deeds, is the subject of an alert from the Office of the Nevada Attorney General. Title Compliance states it will acquire a copy of the homeowner’s deed for a payment of $157.00. It also states that, due to the large number of transactions, this would be the only
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Nathan Russo, 34, Johnston, Rhode Island, pled guilty before Chief United States District Judge Alvin W. Thompson in Hartford, Connecticut, to one count of conspiracy to commit wire fraud stemming from his participation in a mortgage fraud conspiracy.
According to court documents and statements made in court, Russo and others engaged in a scheme to obtain millions of
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Victor Cedeno, 26, was sentenced by U.S. District Judge Mary S. Scriven to five years in federal prison for his participation in a mortgage fraud conspiracy and for engaging in money laundering. In civil forfeiture proceedings, the Court ordered Cedeno to forfeit in excess of $1.3 million, which are traceable to proceeds of the offense.
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At a time when some homeowners are struggling to pay their mortgages, so-called mortgage relief services have been more aggressive in offering loan modification help. Homeowners are warned of the pitfalls of these offers and a consumer alert was issued to make homeowners aware of new protections from the Federal Trade Commission.
Mortgage “rescue” services or load modification services often promise to deliver lower monthly payments and lower interest rates, aid in short
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Michael Cassadei, 54, Schenectady, New York, was sentenced by Senior United States District Judge Thomas J. McAvoy to twenty-seven (27) months in prison, to be followed by three years’ supervised release, for his role as organizer of a local mortgage fraud scheme. Cassadei also was ordered to make full restitution, due immediately, in the total amount of $135,148.45.
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Darin Lee McAllister, 44, Brentwood, Tenn., a FBI Special Agent, was found guilty of 15 counts of wire fraud and three counts of bankruptcy fraud by a jury in United States District Court in Nashville, Tenn. Sentencing was set for March 4, 2010, at 10:00 a.m.
McAllister faces a total of 315 years in prison and $6.5 million in fines. The maximum penalty for each violation of the
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Brett A. Thielen, 42, Savage, Minnesota, was sentenced by United States District Court Judge Patrick J. Schiltz in federal court in Minneapolis for executing a scheme to defraud mortgage lenders by arranging for the fraudulent purchase of condominiums located in the Sexton Building in downtown Minneapolis, Minnesota.
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Shirley Wong, aka Ngoc Li Vuong, 42, San Jose, California, a Silicon Valley engineer technician, pleaded guilty before United States District Judge Lawrence J. O’Neill to conspiring to commit mail fraud in connection with the financing and acquisition of two residential properties in Fresno County, California that were later used for the indoor cultivation of large
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Rito Miguel Diaz, Jr, has been sentenced by Judge Philip S. Gutierrez to the custody of the Bureau of Prisons for 24 months as charged in Count One of the Four-Count sealed Indictment. Diaz, Jr was also sentenced to supervised release for three years, a special assessment of $100, and ordered to pay restitution in the amount of $1,254,667. Continue Reading...
