Archives For Rachel Dollar
A Vallejo man was sentenced to prison Thursday for one count of selling unregistered securities, according to an announcement by the U.S. Attorney’s Office.
Ken Sarna, 50, was one of a number of people indicted in 2010 in a real estate investment scheme operated under the name Heaven Investments Holding Co. (HIHC).
Before former NFL star Irving Fryar and his mother are sentenced next month for their roles in a $1.2 million mortgage scheme, a New Jersey judge will rule on their lawyers’ motions asking for either a verdict reversal or a new trial.
Fryar, a wide receiver who played for the Eagles and other teams during his 17-year NFL career, and his mother, Allene McGhee, 74, formerly of Willingboro, were convicted of conspiracy and theft by deception Aug. 7. Each faces five to 10 years in prison and up to $150,000 in fines on Oct. 2 when state Superior Court Judge Jeanne T. Covert is expected to sentence them.
Federal prosecutors are charging a Charleston mortgage lender with raising $800,000 from investors and spending most of the proceeds on personal expenses.
U.S. Attorney Bill Nettles said Alison Vance White told his financial backers that their money would go to clients who wanted to buy homes but couldn’t qualify for traditional loans
A senior loan officer at a defunct South Hills mortgage company pleaded guilty Tuesday to his role in an extensive mortgage fraud scheme just as he and the former company president were set to go on trial in federal court.
Robert Denne of Jefferson Hills, a former top loan officer at Century III Home Equity and later CrossCountry Mortgage, pleaded to bank and wire fraud and will be sentenced in December.
A former Minnesota real estate developer was sentenced to 6 1/2 years in prison for tax evasion and fraud.
Fifty-seven-year-old Bartolemoea Montanari, formerly of Bayport, was sentenced Wednesday. Montanari was also ordered to pay mandatory restitution of $100,000 and, additionally, to pay more than $1.5 million as a special assessment for the taxes, interest and penalties owed.
An ex-Cranberry couple living in Florida appeared briefly before a federal magistrate in Pittsburgh Tuesday to answer to bankruptcy fraud charges involving some $1 million in hidden assets and a separate embezzlement case.
Gregory Makozy, who formerly ran A1 Mortgage Co. in Cranberry, and his wife, Maria Makozy, were arraigned and allowed to remain free on bond pending trial in two fraud schemes.
Two former Maui residents face up to 20 years in prison on each of ten mail and wire fraud offenses when they are sentenced before US District Judge Derrick Watson.
George Lindell, 67, and Holly Hoaeae, 40, were found guilty of the charges in May for their connection to a multi-million dollar Ponzi scheme associated with their mortgage and insurance business on Maui.
A senior loan officer at a defunct South Hills mortgage company pleaded guilty Tuesday to his role in an extensive mortgage fraud scheme just as he and the former company president were set to go on trial in federal court.
Robert Denne of Jefferson Hills, a former top loan officer at Century III Home Equity and later CrossCountry Mortgage, pleaded to bank and wire fraud and will be sentenced in December.
Jason Calabrese, 44, Watertown, Connecticut was sentenced to six months of imprisonment, followed by three months of home confinement and two years of supervised release, for his involvement in a series of fraudulent mortgage loan applications involving a straw borrower. Calabrese also was ordered to pay a $3,000 fine and $400,585 in restitution.
According to court documents and statements made in court, in November 2005, Calabrese ’s co-conspirator, Thomas Provenzano, obtained a $923,200 loan to purchase a lakefront home located at 27 Palmer Road, Morris, Connecticut, for more than $1.1 million, despite lacking the income to pay off the mortgage. The 27 Palmer Road property was owned by an entity controlled by Ryan Geddes, another co-conspirator. Continue Reading…
Ross Shapiro, 41, New York, New York; Michael Gramins, 33, New York, New York; and Tyler Peters, 32, New York, New York; were indicted by a federal grand jury in New Haven, Connecticut in a 10-count indictment charging the three former New York-based bond traders for Nomura Securities International, with conspiracy and fraud offenses.
Shapiro, Gramins and Peters are scheduled to be arraigned on September 10 at 10 a.m. before U.S. Magistrate Judge Donna F. Martinez in Hartford, Connecticut.
As alleged in the indictment, Shapiro, Gramins, and Peters supervised the Residential Mortgage Backed Securities (“RMBS”) Desk at Nomura Securities International (“Nomura”) in New York. Shapiro was the Managing Director who oversaw all of Nomura’s trading in RMBS, Gramins was the Executive Director of the RMBS Desk and principally oversaw Nomura’s trading of bonds composed of sub-prime and option ARM loans, and Peters was the senior-most Vice President of the RMBS Desk and focused primarily on Nomura’s trading of bonds composed of prime and alt-A loans. Continue Reading…