Earl Gross, 75, Las Vegas, Nevada, the former president and chief executive officer of U.S. Mortgage, a loan servicing company in Nevada, has been sentenced to 18 months in prison for his role in a scheme to defraud Wells Fargo Bank of more than $8 million.
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Zahid and Riffat Ali, who have been wanted by federal authorities on bank fraud charges since 1996, surrendered to agents of the FBI at San Francisco International Airport when their flight from Pakistan arrived. They pleaded guilty in federal court in San Jose, California, to bank fraud.
Keith Churn, 44, Nashville, Tennessee, was found guilty of bank fraud by a federal jury on Friday, December 6, 2013.
James Arthur Nash, Jr., 43, and Arman Nshanian, 37, both of Corona, California, two deputies of the Los Angeles County, California, Sheriff’s Department were convicted in federal court for their roles in an $11 million mortgage fraud scheme.
Nicholas Mussolini, 27, Williamsville, New York, pleaded guilty to a felony charge of wire fraud before U.S. District Court Judge Richard J. Arcara in connection with a fraudulent loan scheme. The charge carries a maximum penalty of a term of 20 years’ imprisonment, a term of supervised release of three years, and a fine of $250,000.
Harold L. Gruber, 60, Brooklyn, New York, an attorney, and his condominium-developer clients, Joseph Scarpinito, 59, who has a prior federal felony conviction for bank fraud, and Shiraz Sanjana, 54, have been barred pursuant to a court order from doing condo and securities-related work in New York pending the court case. The order enjoins the respondents from engaging in any act directly or indirectly relating to the offer or sale of securities (which includes coops and condos) in or from the State of New York.
James Olivos, 47, Lake Mary, Florida, was sentenced by U.S. District Judge Gregory A. Presnell to 5 years in federal prison for bank fraud and money laundering.
Jeffrey Morriss, 48, Kansas City, Missouri, a special agent for U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI), pleaded guilty in federal court to making false statements to FBI agents in regard to a more than $800,000 mortgage fraud scheme.
Henry J. Papale, 62, Southington, Connecticut, was sentenced by Senior U.S. District Judge Ellen Bree Burns in New Haven to 30 months of imprisonment, followed by three years of supervised release, for operating a mortgage fraud scheme.
Jose L. Nino de Guzman, Jr., 30, Seattle, Washington, who operated a Ponzi scheme disguised as real estate investment opportunities in Peru, was sentenced in U.S. District Court in Seattle to 10 years in prison for wire fraud and money laundering.