Harris Poulikidis, 62, Overland Park, Kansas, pleaded guilty in federal court today to actions taken as part of a bank fraud scheme that forced several low-income homeowners into bankruptcy by saddling them with more debt than they were able to repay. Poulikidis pleaded guilty before U.S. District Judge Ortrie D. Smith this morning to causing an individual to travel across state lines
Continue Reading...Archives For Allison Tussey
40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas. The 16-count indictment was returned by a federal grand jury on March 10, 2010, and includes one count of conspiracy to commit mail and wire fraud, 12 counts of mail fraud, and three counts of money laundering.
The 40 defendants, from Texas, Florida, Massachusetts, Tennessee, and Georgia, are charged as follows:
Ed Veronick Mortgage Loans, Inc., and its corporate officers and employees, were sued in a civil action for conspiracy and illegal business practices between June 2004 and June 2007 to obtain an unfair advantage over competitors and earn illegal profits out of commissions on loans brokered by unlicensed persons. A civil judgment has been obtained against Ed Veronick Mortgage Loans,
Continue Reading...
The Federal Bureau of Investigation’s New York Office is warning the public to remain on the lookout for scams involving real estate and rental properties. Two largely reported scams, which operate through Internet advertising, are being reported by individuals who have fallen victim to such malicious behavior.
The first type of scam occurs when an individual advertises a rental property and is contacted by someone claiming to be interested. A rental price is agreed-upon and the victim
Continue Reading...
Marvin Earl “Toby” Alback, 62, Billings, Montana, was arraigned and pled guilty to wire fraud and bankruptcy fraud. A sentencing date will be set later. He is currently released on special conditions.
In an Offer of Proof filed by Assistant U.S. Attorney Ryan M. Archer, the government stated it would have proved at trial the following:
Alback is an attorney in
Continue Reading...
Jason Eric Fischer, 38, Hudson, Wisconsin, a lawyer, pleaded guilty to mortgage fraud by stealing more than $3 million from the escrow account at the real estate title and settlement company he jointly owned. Fischer pleaded guilty to one count of mail fraud and one count of money laundering in connection to his crime. Fischer
Continue Reading...
In an effort to restore credibility to the moribund residential mortgage securitization market, the American Securitization Forum is issuing new guidelines for new issues that put more risk on lenders and investment firms that package loans into securities.
Federal indictments handed down this month accusing former Bend-based developers of operating two real estate schemes document a history of alleged mortgage fraud that, if proven, could land the company’s executives in prison for decades.
This week, those of us involved in the fight against mortgage fraud lost a good friend and a fierce ally.
Cheryl Howe, a true pioneer in the fields of mortgage fraud and mortgage quality control, lost her long fight with cancer. She passed away peacefully on November 25, 2009, surrounded by her family.
Cheryl was a force to be reckoned with .. a mentor to so many of us .. and a treasured friend .. She will be sorely missed ..
Services will be held
Continue Reading...
William Arthur Sassman II, 41, Sacramento, California, who “looted” the life savings of dozens of investors to bankroll his lavish lifestyle and prop up a multi-million dollar real estate and business Ponzi scheme, has been arrested.
Sassman was arrested at his residence on a total of 100 counts: 43 counts of grand theft, 40 counts of misrepresentation or omission in
Continue Reading...