Wednesday, April 04, 2007
South Carolina Brothers Sentenced for Mortgage Fraud
James Byrd and Eric Byrd, brothers, were sentenced to serve five years in prison and pay $5.6 million in restitution for their involvement in a mortgage fraud and check kiting scheme that defrauded seven banks. The brothers will testify against an unidentified co-conspirator. According to the plea agreement, beginning in early 1998, James Byrd ...
Tuesday, April 03, 2007
Two Georgia Lenders Consent to Revocation of Licenses
Worldwide Financial Group, Inc. and Commons People Mortgage, Inc., entered in to separate consent orders with the Georgia Department of Banking to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules. Worldwide Financial Group, Inc., License Number 12323, 696 Mount Zion Road, Suite 7-B, Jonesboro,...
Three Defendants Dismissed from Ohio Civil Complaint
Mortgage Lenders Network, Inc. has dismissed three defendants from the civil lawsuit that it filed in 2004. David G. Anderson, Bowling Green, Ohio and Emilio Soli, Stow, Ohio were dismissed because, as stated in a document entitled Notice of Plaintiff’s Intent to Dismiss Defendants David G. Anderson, Emilio Soli and Adkins Appraisal Services,...
Maryland Mortgage Broker Indicted in Commercial Loan Fraud
Robin Neil Snyder, mortgage broker, 56, Reisterstown, Maryland, and Mortgage Bankers, Ltd. were indicted by a federal grand jury for wire fraud and money laundering arising from a scheme to defraud commercial loan applicants. According to the 17-count indictment, Snyder owned and operated Mortgage Bankers, Ltd., originally located in Baltimore,...
Monday, April 02, 2007
Ohio Man Pleads Guilty to Obtaining Mortgages for Deceased Borrowers
Mark S. Edwards pled guilty to 48 felony counts involving appraisal and mortgage fraud committed between April 2002 and February 2003. Edwards and Mark D. Musselman were indicted in connection with allegations that they falsified two dozen mortgages, including nearly a dozen mortgages to borrowers who were previously deceased. Musselman and ...
Friday, March 30, 2007
Five Guilty Verdicts in South Florida Foreclosure Rescue Scheme
Ramzy Moumneh, a/k/a Ramsey Moumneh, Kamal Moumneh, a/k/a Kamal Renno, Chuong X. Dam, Demetrios J. Voiklis, a/k/a James Voiklis, and Kimberly Brothers were all found guilty of multiple counts stemming from an indictment alleging a foreclosure rescue scheme. The jury found the five defendants guilty as follows: Ramzy Moumneh, a/k/a Ramsey Moumneh...
Thursday, March 29, 2007
Beazer Homes Investigated for Potential Fraud
A Charlotte, North Carolina FBI agent stated that the FBI and the US Attorney’s Office, along with the Internal Revenue Service and HUD launched an investigation of Beazer Homes after the Charlotte Observer reported that there was an abnormally high foreclosure rate in one of their new home developments in North Carolina. Seventy-seven homes...
Wednesday, March 28, 2007
Freedom Financial Broker Nelson Miller Withdraws Guilty Plea
Nelson Miller, owner of Freedom Financial Services, withdrew his guilty plea to two misdemeanors and will face trial on sixteen felony counts. The original indictment, handed down by an Arkansas grand jury in December of 2004, alleged that Miller and his co-defendants defrauded lenders by submitting documents containing misrepresentations...
California Broker, Two Others Arrested for Real Estate Fraud
Manequa Anthony, 30, owner and broker of Jordan Real Estate, Brentwood, California; Jayme Hutchins, 30, agent, Brentwood, California; and Monika Selleaze, 36, notary public, Antioch, California, were arrested in connection with an alleged real estate fraud. According to media reports, the victim provided Hutchins with a credit report for use in...
Tuesday, March 27, 2007
Pennsylvania Mortgage Broker Charged with Real Estate Closing Fraud
Jay Berger, 54, mortgage broker, settlement agent and title agent, was charged by Information in connection with his alleged involvement in a real estate closing scheme that defrauded title companies and lenders in excess of $4.6 million dollars. Also charged in a separate Information was Margaret Carole Fisher, 53. According to the Information ...
New York Woman Charged with Defrauding Investors in $600,000 Scheme
Sayeda Moin, 44, unlicensed real estate broker, Levittown, Long Island, New York, has been charged with defrauding three real estate investors out of more than $600,000 in cash and property which she allegedly used, in part, to pay personal expenses. Moin, who is also known as Sayeda Sufia Akhter and who formerly maintained an office in...
Monday, March 26, 2007
Utah Men Sentenced for Equity Skimming Scheme
Mark Neusch and Michael Davis were sentenced in connection with an equity skimming scheme. Neusch pled guilty to one count of equity skimming and one count of bankruptcy fraud. Davis pled guilty to one count of equity skimming. Neusch and Davis engaged in a scheme whereby they acquired numerous residential properties by making misrepresentations...
Friday, March 23, 2007
Pennsylvania Mortgage Broker Pleads Guilty to Creative Financing Scheme
Christopher Gallagher, mortgage broker, Philadelphia, Pennsylvania, pled guilty to three counts of wire fraud and two counts of failure to file income tax returns in connection with a mortgage fraud scheme involving properties valued at more than $1.5 million. Gallagher worked in close contact with Patrick Balf, who worked as a real estate agent...
Thursday, March 22, 2007
Texas Real Estate Investor Convicted in Mortgage Fraud Scheme
Vernon Cooks, Jr. aka Jibreel Rashad, 40, real estate investor, was convicted after trial by a jury on all counts of a federal indictment that charged him with operating a mortgage fraud scheme in the Dallas, Texas area from approximately May 2003, through December 2004. Specifically, Cooks was convicted of one count of bank fraud, seven counts...
Wednesday, March 21, 2007
Colorado Federal Housing Fraud Snares Eight
Seven men and one woman were arrested on suspicion of having provided forged documents to purchase FHA insured homes. The defendants are believed to have purchased homes using fraudulent citizenship and/or financial documentation. Those arrested include: Edgar De La Rosa Manuel Barron Adela Hernandez Ruben Martinez Ventura Moreno Manuel...
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
