Conspirator Sentenced for Arranging Fraudulent Mortgages

admin —  January 25, 2010 — 1 Comment

Garry S. Martin, 36, Orlando, Florida, has been sentenced for conspiring to commit money laundering in connection with various mortgage fraud schemes and violating the terms of his supervised release. As part of his sentence, the court also ordered that Martin pay more than $1 million in restitution to his victims. Martin pleaded guilty to the charges on July 16, 2009.

As previously reported on Mortgage Fraud Blog, and according to the plea agreement, Martin was convicted in the United States District Court for the Eastern District of New York in 2006 for engaging in mortgage fraud. Martin had made several applications to secure mortgages from Citimortgage, Inc., a subsidiary of CitiBank. Those applications contained several false statements, including inflated values for the borrower’s income and assets.

The terms of Martin’s supervised release for his 2006 conviction prohibited him from offering various real estate services. After Martin had been placed on supervised release in the Middle District of Florida, however, he maintained his real estate sales agent license and obtained his real estate brokers license. He also formed various companies, including Antigua Housing and Management, Inc. (“Antigua H&M”), Antigua Real Estate, Antigua Abstract LLC (“Antigua Abstract”), GSM Financial LLC, and Savvy Professional Title Company (“Savvy”), each with its principal office listed as 5449 South Semoran Boulevard, Suite 200, Orlando, Florida.

Through those companies, and up until August 2008, Martin conducted various schemes, including foreclosure fraud, reverse mortgage fraud, and completely sham transactions, to defraud financial institutions out of more than $5 million. Through Antigua H&M, Martin obtained money from people facing foreclosure by promising that Antigua would bring their past due mortgages current through refinancing and forward their payments to their lenders. He then used the foreclosure payments himself and did not pay the banks.

Through Savvy and Antigua Abstract, Martin marketed reverse mortgages to seniors, sent fraudulent financing packages to support the mortgage applications, arranged the mortgage closings himself, and then diverted mortgage proceeds to his personal use. Martin also created wholly fictitious agreements between fake buyers and fake sellers to receive mortgage proceeds.

This case was investigated by the Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), and Orange County Sheriff’s Office. It was prosecuted by Assistant United States Attorney Vincent A. Citro.

This case was brought as part of the Middle District of Florida’s Mortgage Fraud Surge, a joint effort by the U.S. Attorney’s Office for the Middle District of Florida, the Federal Bureau of Investigation, Tampa and Jacksonville Divisions, and numerous other federal, state, and local law enforcement agencies. The Surge, which ended October 31, 2009, focused intensive investigative and prosecutorial resources on the mortgage fraud crisis that plagues middle Florida and has contributed to the current economic situation nationwide. The Surge accelerated mortgage fraud cases to bring perpetrators to justice quickly and provide maximum deterrence, and it was the first step in an ongoing effort to prosecute mortgage fraud of all types throughout the Middle District.

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One response to Conspirator Sentenced for Arranging Fraudulent Mortgages

  1. patricia warmhold January 28, 2010 at 6:31 am

    January 27, 2010

    I HAVE PROOF OF TEMPERING AND WHITE OUT OF MY ORIGINAL DOCUMENTS- MY W-2 AND PROOF OF THE INFLATED APPRAISAL – I HAVE ALL THE PROOF YOU NEED-
    MORTGAGE FRAUD / MODIFICATION FRAUD – DELIBERATE, INTENTIONAL- ILLEGAL- FALSIFYING of all my refinancing application- WITH THE APPROVAL OF LENDING COMPANY :BANKAMERICA/COUNTRYWIDE AND INVESTOR CITIMORTGAGE – MY ORIGINAL INFORMATION WAS WHITED OUT- ERASED- FALSIFIED, INFLATED: blown out of proportion : THEY (BANKAMERICA/COUNTRYWIDE/CITIMORTGAGE AND THEIR BROKER MICHAEL PATRICK ZAGARINO OF PRUDENTIAL MORTGAGE PLAINVIEW L.I. NEW YORK) LIED THROUGHOUT THE ENTIRE REFINANCING APPLICATION- WITHOUT MY KNOWLEDGE AND UNDERSTANDING (behind my back, behind the back of my own attorney )AFTER I SIGNED IT- BROKER REFUSED TO GIVE ME AND MY ATTORNEY A COPY AT THE SIGNING
    THE LENDING INSTITUTION COUNTRYWIDE/BANAMERICA, Simi Valley California has instructed their broker MICHAEL PATRICK ZAGARINO of PRUDENTIAL MORTGAGE 1600 Old Country Road, Plainview Long Island New York 11803 to white out EVERY INFORMATION I GAVE THEM in my orignal refinancing application- THIS BROKER LIED ABOUT MY INCOME – I MADE $1,600.00 A MONTH BUT HE WHITED OUT MY ORIGINAL INFORMATION AND TYPED IN AFTER I SIGNED IT THAT I MADE $8,527.00 A MONTH- THOUGH I HANDED HIM MY W-2) then he inflated the value of my house more than $180,000.- and lied in the entire application- MY LAWYER: YVONNE DEBENEDETTO of Farmingdale, New York who was present at the time of the signing was there when this broker told me to borrow twice as much then I needed to pay my ex husband off his share of the house (after 23 yrs) then put the extra amount in an account in order for it to pay the mortgage so that he-this broker- would “automatically” (those were his exact words) REDUCE/LOWER/.MODIFY MY LOAN THE FOLLOWING YEAR– HE LIED – MY ATTORNEY has stated in a letter that this broker lied and falsified my application deliberately after I isgned (HE REFUSED TO GIVE ME A COPY OF THE SIGNED APPLICATION) in its entirety-IN ORDER TO SEE ME DEFAULT AND LOSE MY HOME- TODAY BECAUSE OF THIS FRAUD , I, a minority disabled senior citizen of 68 yrs old – a single parent – AM STANDING HELPLESS- depriving myself of the basic necessities of life, in the red every month- now in a position to have to choose between paying my energy bill or buying food- paying the mortgage or buying my prescribed medication — WITH A MORTGAGE 8.5% (TO BALLOON TO 11% then to 15%) which is 83% of my total monthly income- BANKAMERICA/COUNTRYWIDE after they – BANKAMERICA/COUNTRYWIDE have deliberately intentionally COACHED THIS BROKER TO PUT ME INTO A “NINA” (No Income No Asset -account-) ACCEPTED AND APPROVED the forged information NOW ARE REFUSING TO MODIFY MY LOAN IN ORDER TO HELP ME HOLD ON TO MY HOME AS PER PRESIDENT OBAMA MAKING HOME AFFORDABLE – THEY HAVE REFUSED !!! EVEN THOUGH I QUALIFIED ! (they ignored my W2 stating exactly my income thus proving that I didnt qualify for that conventional mortgage (ADJUSTABLE, SUB-PRIME -OPTION ARM: to balloon to 15%- STATED: though I did present all my documents- NO DOCS- though I only had one home – my primary-)ORIGINALLY I ASKED FOR A REVERSE-at 64 yrs old- I QUALIFIED – MY HOUSE WAS TOTALLY PAID FOR – this broker at the instructions and approval of COUNTRYWIDE/BANKAMERICA (the lending institutions) and their INVESTOR CITIMORTGAGE AFTER ACCEPTING THIS BOGGUS FINANCIAL APPLICATION NOW refused to consider my application for a REVERSE DELIBERATELY TO SEE ME DEFAULT ON MY LOAN-
    – (I WILL SEND YOU BY REGULAR MAIL ALL THE PROOFS OF THIS FALSIFIED AND WHITED OUT BOGGUS APPLICATION- AND THE LETTER OF MY ATTORNEY PRESENT STATING THAT THIS BROKER TOGETHER WITH COUNTRYWIDE AND BANKAMERICA HAVE LIED JUST TO ENRICH HIS OWN POCKETS
    PATRICIA WARMHOLD pd15@optonline.net
    (516-495-4556)

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