Fraudsters are advertising by mailings and phone calls, including a mailing titled “Payment Reduction Notification.” The scammers are using documents that have a Making Home Affordable logo and appear to set out a payment plan to reinstate the loan or modify the loan terms.
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Paula Rae Donnell, 54, Fullerton, California, a controller for a real estate company, was convicted of embezzling over $370,000 from her employer.
Sarah Kate Henecke, 35, also known as Alessandra Valencia Toscanelli, Las Vegas, Nevada, pleaded guilty to making a false statement on a residential loan application to the Department of Housing and Urban Development.
Robert Serao, 48, Bayville, New Jersey, admitted his role in a $40.8 million mortgage fraud conspiracy in which he used his position as a loan officer of Wells Fargo Home Mortgage, Inc. to get the company to release more than $4.6 million based on fraudulent mortgage loan applications.
Samuel Ray Palasota, 53, Houston, Texas, has been ordered to federal prison following his convictions on multiple counts of mail and wire fraud.
Saleem M. Khan, 49, Dublin, California, was sentenced to twenty one months in prison and ordered to pay a $60,000 fine for bank fraud and making false statements to a financial institution.
Andrew B. Katakis and Donald M. Parker were found guilty following a four-week trial of conspiring to rig bids at public real estate foreclosure auctions held in San Joaquin County, California.
$114,542 will be distributed from the Homeowner Protection Fund to more than 112 victims of the Hope4Homeowners mortgage rescue scam.
Daniel Mumbower, 35, Glassboro, New Jersey, a former banker, was sentenced to 41 months in prison for two counts of bank fraud and one count of receiving bribes by a bank employee for his role in a scheme that defrauded lenders of nearly $3 million.
Grant Alvernaz, Pleasant Hill, California, and Douglas Moore, Walnut Creek, California, two real estate investors, pleaded guilty to their roles in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California. A total of 46 individuals have pleaded guilty or agreed to plead guilty as a result of an ongoing antitrust investigation into bid rigging and fraud at public real estate foreclosure auctions in Northern California. Continue Reading…