Archives For Rachel Dollar

Jury Finds Mortgage Fraudsters Guilty

Rachel Dollar —  July 14, 2015 — Leave a comment

Olga Palamarchuk, 45, Rancho Cordova, California; Pyotr Bondaruk, 44, Sacramento, California; Vera Zhiry, 35, Sacramento, California; and Peter Kuzmenko, 37, West Sacramento, California, were found guilty by a federal jury after a three week trial of conspiracy to commit mail fraud related to a mortgage fraud conspiracy. Palamarchuk and Bondaruk were also found guilty of making false statements to a financial institution and money laundering. Zhiry was also found guilty of money laundering.

According to evidence presented at trial, Palamarchuk, a loan officer at Capital Mortgage Lending Inc., recruited Bondaruk to purchase two houses using 100 percent financing and to refinance and obtain a home equity line of credit on one of the houses. In order to qualify for the loans, Palamarchuk and Bondaruk submitted fraudulent loan applications to lenders, falsely stating Bondaruk’s employment, income, assets, and intent to occupy the homes as his primary residence. Continue Reading…

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Fugitive in mortgage fraud case hid in the open before being nabbed

A wanted fugitive was arrested late Saturday night in Kaimuki.

Jennifer McTigue was wanted by the FBI after she failed to appear in court and didn’t respond to calls.

Agents from the FBI, along with U.S. Marshals and Honolulu Police converged on a Pukalani Place residence off Wilhemina Rise late Saturday night and took McTigue into custody.

 Posted by Rachel Dollar  onJuly 13, 2015 In Mortgage Fraud on the web
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Real estate investor set to be sentenced Monday in fraud case

After several delays, Fredericksburg-area real estate investor James Ashby Moncure is scheduled to be sentenced Monday in federal court for wire fraud and illegal monetary transactions.

Prosecutors want the 42-year-old father of two to serve more than seven years in federal prison and pay $8.2 million in restitution, according to documents in U.S. District Court in Richmond.

 

 Posted by Rachel Dollar  onJuly 13, 2015 In Mortgage Fraud
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Tips to help you avoid foreclosure rescue scams

Imagine that you are one of the hundreds of thousands of New Yorkers at risk of losing your home. You’ve fallen behind on mortgage payments, and — the home that you worked hard to buy for your family is suddenly in jeopardy.

One day, you get a call from a company offering the help you so desperately need. A soothing voice on the other end of the phone line promises that you will be able to save your home. Desperate for any solution, you arrange a monthly payment plan, relieved that your nightmare is finally coming to an end.

 

 Posted by Rachel Dollar  onJuly 10, 2015 In Mortgage Fraud
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Man convicted in real estate scheme faces new allegations

He was convicted of hijacking a home – and now the I-Team has learned the same man is being accused in another real estate scheme known as “deed shifting.”

It involves a program in which people can rent-to-own a home – a less expensive way to achieve the American Dream. But one homeowner discovered that a house he paid for was never really his.

 Posted by Rachel Dollar  onJuly 10, 2015 In Mortgage Fraud on the web
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3 Years for Timeshare Fraud

Rachel Dollar —  July 10, 2015 — Leave a comment

David Brandon Ball, 35, Charleston, West Virginia, was sentenced to 37 months in federal prison for defrauding timeshare owners throughout the United States and Canada.

Ball and an associate, David Andrew Glynn, formed Mountain State Resales, LLC (MSR), a bogus company used to defraud timeshare owners of money. Ball and his associates told timeshare owners that MSR had a buyer for their timeshares and persuaded them to advance money to MSR in South Charleston to cover fees and expenses necessary for the sales. In truth, however, MSR had no buyers for the timeshares. Ball knew that the timeshare owners would not receive anything in return for money sent to MSR. Continue Reading…

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Couple’s trial opens in $300M vacation rental fraud case

A federal trial began Wednesday for a married couple accused of orchestrating a $300 million fraud involving thousands of investors who were promised big profits by purchasing dilapidated properties in the Florida Keys and elsewhere that would be transformed into luxurious resorts.

 Instead, prosecutors say Fred Davis “Dave” Clark Jr., former president of now-defunct Cay Clubs Resorts and Marinas, and Cristal Clark, a top sales agent, defrauded banks and about 1,400 individual investors through a series of misleading marketing materials and false statements. The investors in some cases were promised quick returns of 15 to 20 percent, according to court documents.
 Posted by Rachel Dollar  onJuly 9, 2015 In Mortgage Fraud
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Straw Buyer Investment Scheme Sentences

Rachel Dollar —  July 9, 2015 — Leave a comment

Stavroula Mendez, 68, real estate developer, was sentenced to 135 months in prison; Lazaro Mendez, 42, real estate developer, was sentenced to 108 months in prison; and Marie Mendez, 49, real estate developer, was sentenced to 57 months in prison in connection with their roles in a mortgage fraud scheme that caused losses of $27.8 million.  U.S. District Judge Patricia A. Seitz of the Southern District of Florida also ordered each of the defendants to forfeit $35,252,331 in fraudulent proceeds and to pay $21,240,064 in restitution.  In November 2014, all three defendants were convicted of wire fraud, bank fraud and conspiracy.  Eleven other co-conspirators were previously convicted of fraud in connection with the scheme. Continue Reading…

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Guilty Plea for Laundering Money from Home Thefts

Rachel Dollar —  July 9, 2015 — Leave a comment

Mohamed Daoud, 50, a Norwegian businessman, has pleaded guilty to laundering the proceeds of a complex scheme to steal real property. According to his plea agreement, between July 2012 and February 2013, Daoud helped to launder some of the millions of dollars in proceeds generated by a group of confederates who posed as the real owners of Southern California homes in order to “sell” the properties to unsuspecting buyers—who later learned that they had actually purchased nothing. Immediately after each sale, Daoud admitted, the confederates would disburse the money, ensuring that the funds vanished and the buyers could not recover their stolen money. Continue Reading…

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Two Guilty Pleas in Nevada Scheme to Defraud Homebuyers

Rachel Dollar —  July 9, 2015 — Leave a comment

Orlando Vera, 55, Whittier, California, pleaded guilty to one felony charge of mortgage lending fraud in Nevada, a category “B” felony.  His plea was a result of his role in a scheme to cheat several hopeful homebuyers out of $904,861. A month earlier, Vera’s co-defendant, Juan Robles, 35, Las Vegas, Nevada pleaded guilty to a gross misdemeanor for the same scam. Their crimes were committed between November 2012 and January 2014.

Vera schemed to defraud potential Nevada homebuyers by promising to purchase houses using their substantial savings as down payments, but ultimately failed to buy the houses. Fourth Judicial District Court Judge Kerry Earley will sentence Vera and Robles at a date to be determined. A third co-defendant, Christian Delgado, 39, Las Vegas, Nevada, will stand trial on April 4, 2016 for his role in the scheme. Continue Reading…

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