Illinois
Mortgage Fraud - Illinois
Thursday, May 05, 2005
Chicago Real Estate Story
Click here to watch the NBC-5 Video (Sold Out)
I recently consulted with Phil Rogers of NBC Chicago on an investigative report concerning some activity in the Chicago area. Follow the above link and chose the “Sold Out” story to watch the video feed.
Wednesday, May 04, 2005
Flip Participants on Trial in Chicago
Two Week Trial Expected for Barren and Bishop
The federal trial of Demetrius Barren and Julian Bishop is proceeding in Chicago and expected to last one to two weeks. Barren and Bishop were indicted in July 2002 along with Carl Miller and Kenneth Washington, in connection with an alleged property flipping scheme in Chicago, Illinois. Witnesses testifying the first day of trial included ...
Friday, March 04, 2005
Kemper Employee Indicted for Mortgage Portfolio Theft
Johnson also Subject of Civil Action
Laura Johnson, 47, Crystal Lake, Illinois, was indicted by a Lake County grand jury on charges of stealing $1.5 million from Kemper Insurance Cos., Long Grove, Illinois. Kemper has also filed a civil lawsuit to recover the funds. Johnson was an account manager for Kemper but was laid off in December. Authorities allege that, from 1999 to 2004, ...
Proceeds of Home Sale Misappropriated
Landwer Charged with Theft by Deception
Charles Landwer (South Elgin, Illinois), owner of Accurate Financial Group (Bloomingdale, Illinois) was taken into custody on two counts of exploiting an elderly person and two counts of theft by deception. Police had been searching for Landwer for almost two weeks when he walked into a Kane County courtroom and asked for a bond hearing. ...
Wednesday, March 02, 2005
Appraiser in Kakvand Fraud Pleads Guilty
Groh Admits to Inflating Appraisals
Thomas M. Groh, 57, appraiser, Universal Appraisal Service, pleaded guilty to one count of wire fraud, admitting he inflated appraisals in connection with a mortgage fraud scheme to sell run-down apartment buildings in Chicago, Illinois for amounts in excess of their value. Lenders suffered damages of $11M. Sentencing is scheduled for June 1,...
Monday, February 28, 2005
Mortgage Fraud and Chicago Foreclosures
Press Release of Foreclosures.com
Foreclosures.com issued a press release suggesting that flipping of properties with inflated appraisals and outright fraud on mortgage lenders was a major factor in the persistently high level of foreclosure activity in the Chicago metro area. The company notes high levels of foreclosure filings in Cook County.
Friday, February 25, 2005
Chicago Alderman Seeks to Block Development
Company Owned by Wives of Easy Life Principals Seeks Approvals
Alderman Madeline Haithcock has vowed to block a Chicago, Illinois development being proposed Mansion View Development because its principals are the wives of two men who were involved in Easy Life Real Estate System Inc. In 2001, Easy Life paid $1.3M to settle a class action lawsuit concerning the sale of alleged substandard homes to...
Friday, February 11, 2005
Illinois Mortgage Fraud Indictment
Gary D. Harpole Accused of Submitting False Tax Returns and Financials
Gary D. Harpole, 58, Daytona Beach, Florida was charged with making a false statement to The First Bank, Quincy, Illinois. The indictment alleges that Harpole made false statements and willfully overvalued property to influence the bank to refinance a loan in the amount of $228,937 on three properties located in Quincy, Illinois. Harpole ...
Wednesday, January 26, 2005
Former Danville Loan Officer Sentenced for Bank Fraud
Urbana, IL - A former loan officer, Charles Boyer, age 45, of 604 Stratford Drive, Washington, Illinois, was sentenced today to a term of 14 months in prison for bank fraud, as announced by Jan Paul Miller, United States Attorney for the Central District of Illinois. Chief U.S. District Judge Michael P. McCuskey also ordered Boyer to pay...
Friday, December 10, 2004
Man Facing Mortgage Fraud Charges Shot and Killed
Thomas Fazy Indicted in 2002 and 2004
Thomas Fazy, 49, Oak Forest, Illinois, was shot and killed in the offices of Allied Mortgage at 3824 W. 147th St., Midlothian, Illinois. Court records reflect that Fazy, his wife Julie, 41, and Craig Hendrick, 68, were involved in scams where they obtained mortgage loans in Crestwood, Naperville and DuPage Counties using the identities of...
Thursday, December 09, 2004
Plea Agreement - Shipley
Plea Agreement - Shipley
Plea Agreement - McAfee
Plea Agreement - McAfee
Two Plead Guilty In Illinois Mortgage Fraud
Admit to Falsifying Bank Official Signatures - Plea Agreements Available
Randolph McAfee, 38, Springfield and Darrin Shipley, 37, Peoria, pleaded guilty in federal court Wednesday in connection with a mortgage fraud scheme that involved over 100 properties in Springfield, Decatur and Peoria, Illinois and causes losses to mortgage companies estimated at $500,000 to $800,000. McAfee and Shipley would buy distressed...
Friday, October 15, 2004
Kakvand, Groh, Razvi - Chicago, Illinois
3 Indicted in Mortgage Scheme - Chicago Business
Thomas M. Groh, Elgin, Illinois, 57, real estate appraiser (wire fraud, 8 counts bank fraud)
Mohammad Taghie Kakvand, a.k.a. Mike Kakvand, Park Ridge, Illinois, mortgage broker, Residential Realty Development, Inc (wire fraud)
Syed Ali Mohammed Razvi, 39 (wire fraud, 4 counts bank fraud)
Jan Rozycki, a.k.a. Jarek Kozla, was named but was not indicted
The defendants were indicted in the Northern District of Illinois for their roles in a mortgage fraud scheme. Prosecutors allege that Mohammad Taghie Kakvand, a.k.a. Mike Kakvand would buy apartment houses through Residential Realty Development, Inc. and obtain loans for buyers of his condominiums through brokerages that he owned. Thomas M....
Monday, October 11, 2004
Disciplinary Proceeding against Belleville, Illinois Appraiser
Dennis Wiese, 36, appraiser, Belleville, Illinois
Gary Knox, 57, businessman, Decatur, Illinois
Dennis Wiese, 36, is scheduled to appear for a public hearing on October 19, in Chicago, Illinois, on a complaint filed against him by the state Division of Banks and Real Estate of the Department of Financial and Professional Regulation. A ten count complaint filed against Weise by the state Department of Financial and Professional Regulation in...
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
