Theresa Sanders, 56, most recently of Westerville, Ohio, pleaded guilty to residential mortgage fraud, in the second degree, and grand larceny, in the second degree, in Onondaga County Court, New York, before Judge Anthony Aloi.
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William R. Beamon, Jr., a/k/a Rusty Beamon, 54, Atlanta, Georgia, has been convicted by a federal jury of carrying out a scheme to defraud Appalachian Community Bank, Ellijay, Georgia, by renting out bank owned properties and keeping the proceeds, as well as selling them to a shell company at below market prices.
Three former Permian Basin business owners and a title company executive were sentenced for their roles in a mortgage fraud scheme that involved approximately 800 real estate properties and about $45 million in loans.
Yvonne Gumaer, 68, Galveston, Texas, has been sentenced to federal prison for federal violations related to a mortgage fraud scheme wherein she and her conspirators made false statements in connection with an FHA insured home loan.
Annika Boas, 37, Mount Rainier, Maryland, was sentenced by U.S. District Judge George Jerrod Hazel to 27 months in prison followed by five years of supervised release for conspiracy, wire fraud and making a false statement on a loan application arising from a residential mortgage fraud scheme.
Maziar Bordbar, Saeid Yarandi, Pamela Gressier, Nathaniel Ferrer, Roberto Durano, and Joel Valdellon have been charged with running a loan modification scam in Orange County, California, wherein the defendants allegedly promised modifications in exchange for upfront fees.
Thomas Franklin Tarbutton, Orange County, California, an alleged hard money lender, has been charged with running a real estate ponzi scheme, embezzling funds from investors by keeping the money they lent for borrowers and not funding the loans as promised.
GTL Investments, Inc., doing business as John Adams Mortgage Company, Southfield, Michigan, a mortgage lender, has agreed to pay $4.2 million to resolve allegations that it violated the False Claims Act in its origination of loans backed by the federal government.
Joshua Leventhal, 44, Easton, Massachusetts, has pleaded guilty and been sentenced to jail in connection with stealing $112,000 from customers in a “Rent to Own” advance-fee scheme. He was also ordered to make full restitution to his victims.
Consumers are being warned concerning the recent frequency of advance fee loan scams. While advertisements guaranteeing loans can be tempting and the websites associated with these scams often look legitimate, they can be very misleading.