Illinois
Mortgage Fraud - Illinois
Wednesday, November 15, 2006
Chicago Mortgage Fraud Arrests involve Alleged Gang Members
Terry Faulkner, 41, Tinley Park, Illinois, an alleged member of the Gangster Disciples, and Rodrigo Navascues, a mortgage broker with Hammer Financial, Chicago, Illinois were charged with one count of being the organizer of a continuing financial crime enterprise. According to media reports, Faulkner‘s home was searched by police and numerous...
Tuesday, November 07, 2006
Six Mortgage Brokers Investigated by Illinois Mortgage Fraud Task Force
The Illinois Mortgage Fraud Task Force is continuing to investigate unregistered loan originators - most recently its efforts have been focused in the Chicago metropolitan area of Illinois. In its summer sweep, the Mortgage Fraud Task Force inspected mortgage licensees in the Metro East area. The Mortgage Fraud Task Force found problems after...
Wednesday, September 20, 2006
Five Indicted in Illinois Fraud for Commission Scheme - One Pleads Guilty
An Illinois grand jury returned a thirty-five count indictment charging conspiracy to defraud HUD in connection with a fraud for commission scheme. The following five people allegedly defrauded the federal government out of hundreds of thousands of dollars. Rhonda Torossian, 44, Rockford, Illinois; alleged to have been employed as a loan officer...
Monday, September 18, 2006
Five Year Sentence in Theft of Airforce Sergeant’s ID
Walter Jackson, 32, Richton Park, Illinois was sentenced to 5 years in prison after his conviction last month on charges of financial identity theft, theft and forgery. Jackson was accused of using the identity of a U.S. Air Force sergeant to secure a $385,000 mortgage to purchase a home in Richton Park, Illinois. He was also accused of...
Wednesday, August 09, 2006
Illnois Shuts Down Mortgage Rescue Scam Including Seven Title Agencies
Illinois regulators shut down a ‘mortgage rescue’ scam that defrauded vulnerable Chicago metropolitan area residents of their homes. The alleged scheme preyed on homeowners at risk of foreclosure and conned them into signing over the title and any earned equity from their properties, allowing investors to purchase the homes at a fraction of...
Tuesday, July 11, 2006
Three Final Guilty Pleas in Illinois Mortgage Fraud
Former Freeport, Illinois business owner Philip R. Miskimon and Lena, Illinois resident Julie Smith pleaded guilty to conspiring to defraud the United States in connection with the FHA mortgage insurance program. Another Freeport, Illinois area business owner, Douglas L. Hastings, pleaded guilty to related charges contained in the same...
Wednesday, June 14, 2006
Chicago Loan Broker Pleads Guilty
James Rucker, mortgage broker, Chicago, Illinois admitted to his role in a scheme to defraud lenders of over $900,000 through more than a dozen mortgage transactions in Illinois between 1998 and 2002. The plea agreement indicates that Rucker and his co-conspirators used shell companies, false income, misrepresented asset documentation and fake...
Wednesday, May 24, 2006
Illinois Undercover Operation Nets Two Arrests in Appraisal Scam
Dariusz Przybylek, 36, Highland Park, Illinois and Erwin Espe, 68, Wilmette, Illinois were named in a federal criminal complaint filed on April 10, 2006. The complaint alleges that from February 2005 through the filing of the complaint, the two committed mail fraud and wire fraud while engaged in a scheme to defraud First NLC Financial Services...
Thursday, May 18, 2006
Illinois Real Estate Agent Indicted in Theft of Client Proceeds
Robert ‘Bear’ Taylor, 46, real estate agent, Charleston, Illinois was indicted by a federal grand jury and charged with two counts of wire fraud in connection with allegations that he diverted the proceeds of a sale of a client’s real estate and that he obtained a loan from the same client to be secured by property that he did not own. Taylor...
Monday, May 08, 2006
State Seeks to Shut Down Illinois Home Repair Contractor
Ronald W. Kafka and Father & Sons Contractors, Inc., a home repair and remodeling contractor, were sued by Illinois Attorney General Lisa Madigan and charged with violations of the Consumer Fraud and Deceptive Business Practices Act; the Uniform Deceptive Trade Practices Act; and the Home Repair and Remodeling Act. The contractor has allegedly...
Wednesday, May 03, 2006
Initial Results of Illinois Crackdowns on Unlawful Mortgage Brokerage Practices
As the result of a series of aggressive, new inspections by state regulators into mortgage lending practices, Illinois Governor Rod R. Blagojevich announced on April 28, 2006 $190,750 in fines for 22 licensed residential mortgage offices and the suspension of one office in Oak Brook, Illinois for failing to comply with state regulations. Earlier...
Tuesday, May 02, 2006
Possible Forged Deed Responsible for Woman’s Eviction in Illinois
Media sources report that a Cook County Illinois woman may have been the victim of theft by deed but no charges have been filed against the alleged perpetrator. Judith Ahrens, an out-of-work nurse in the spring of 2004, was facing a possible foreclosure for falling behind on the payments on her $93,000 mortgage. Todd Hansen, Rockford, Illinois...
Thursday, April 20, 2006
Former Mortgage Company Owner Pleads Guilty in Illinois Flipping Scheme
Lawrence V. Lynch, 53, Wilbraham, Massachusetts, the former president of Affordable Mortgage Co, pleaded guilty to federal charges of wire fraud and money-laundering conspiracy. He was charged in 2005 with twelve other people in connection with a real estate flipping scheme involving more than 100 homes in the greater Springfield area of...
Two More Guilty Pleas in $8M Illinois Mortgage Fraud
Gary Knox plead guilty to 11 counts of bank, mail and wire fraud and conspiracy to commit money laundering and his co-defendant, former real estate appraiser, Dennis Wiese Jr., plead guilty to four counts of bank, mail and wire fraud in connection with an $8M real estate flipping scheme that operated in the Springfield, Illinois area. Frank...
Wednesday, April 19, 2006
Illinois Foreclosure Rescue Company Fined and Shut Down
Following a lawsuit brought by Illinois Cook County State’s Attorney Richard Devine, a fraudulent mortgage lending company has been fined $250,000 and banned from doing business in Illinois. Bold Funding, Inc. and its owner-operator, Bruce Wagner, were found to have violated Illinois law by falsely promising to secure private funding for loans to...
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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 
