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Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry. |
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.
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November 27, 2007 - Voice of San Diego
November 23, 2007 - You Tube
November 18, 2007 - Newsday |
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- Maryland Man Heads To Prison For Defrauding Lenders - Husband And Wife Convicted For Real Estate Fraud - Loan Originator Sentenced For Straw Buyer Scheme - Idaho Dept of Finance Issues Shuts Down Bait And Switch Scheme - Virigina Man Pleads Guilty To Mortgage Fraud - New Yorkers Net 2 Years For Loan Misreps - 2 Guilty Pleas In Straw Buyer Scheme - Woman Sentenced To 2 Years For Mortgage Fraud - 2 Plead Guilty In Scheme To Defraud Lenders - Title Company Owner Pleads Guilty to Misreps |
Wednesday, April 30, 2008Unlicensend Loan Officer Sentenced to 15 MonthsSennett H. Swift, 26, Sacramento, California, was sentenced by United States District Judge Lawrence K. Karlton to 15 months in prison. Swift pleaded guilty on January 15, 2008, to felony counts of bank fraud and money laundering. As previously reported by Mortgage Fraud Blog, Swift admitted that he defrauded two homeowners and the corresponding lenders by fraudulently refinancing the two homes. The purpose of Swift‘s fraud was to receive the substantial loan broker commissions. To accomplish this fraud, the defendant solicited these two homeowners and falsely told them that they would receive …
Tuesday, April 29, 2008Former City Housing Director Sentenced For Straw Borrower SchemeMatthew Price II, the former Director of Housing and Economic Development for Florida City, Florida, was sentenced to 30 months imprisonment, to be followed by three years of supervised release, for his role in a conspiracy to commit mail and wire fraud that deprived the citizens of Florida City of his honest services. Co-defendant Jennifer Stimpson was sentenced to six months imprisonment, to be followed by 6 months of home confinement and 3 years of supervised release, for her role in the fraud. The defendants had been indicted by a federal grand jury on charges of conspiracy to …
Guilty Pleas In Scam To Defraud Long Beach MtgIftikhar Ahmad, 36, Stockton, California, pleaded guilty to two counts of mail fraud and one count of engaging in monetary transactions involving criminally derived property. The charges relate to a widespread mortgage fraud scheme centered in the Stockton, California area. According to court documents, Ahmad admitted that from July 2003 through October 2005, he participated in a scheme to defraud Long Beach Mortgage, a wholesale lender, in connection with the sale (and in one instance resale) of 10 residential real properties primarily located in the Stockton, area. Between July 2003 and January 2005, …
Monday, April 28, 2008Mortgage Fraud Orchestrators SentencedRichard Weldon Crowder, II, and Gary Mark Mills were sentenced by United States District Judge Jose E. Martinez to 108 months and 46 months imprisonment, respectively. Co-defendant Karen Lynn Sullivan was sentenced to 50 months’ imprisonment. The defendants were sentenced for their roles in a multi-million dollar mortgage fraud conspiracy. According to the criminal information, Crowder is a former licensed mortgage broker and the former owner of America’s Best Mortgage Services, Inc., located in Coconut Creek, Florida. Mills is a former title attorney and the owner of Four Star …
DC Man Convicted For Forging 14 DeedsDuane McKinney, 35, Washington, D.C., was found guilty by a jury in the U.S. District Court for the District of Columbia on charges of fraud, theft, and monetary transactions. Specifically, McKinney was found guilty of four counts of mail fraud, two counts of wire fraud, three counts of first degree theft, and two counts of monetary transactions. McKinney is scheduled to be sentenced on July 15, 2008, before the Honorable Judge Reggie B. Walton. At sentencing, McKinney faces a likely range of imprisonment of 87 - 108 months under the Federal Sentencing Guidelines. …Read More...
Friday, April 25, 2008Foreclosure Prevention Falls ShortCiting a new national report on subprime mortgages, Arizona Attorney General Terry Goddard said that efforts of servicers and government officials to prevent foreclosures have increased but still fall short of the need to effectively respond to the foreclosure crisis and prevent millions of unnecessary foreclosures. The report was issued Tuesday by the State Foreclosure Prevention Working Group, a group of state Attorneys General and banking regulators working to prevent home foreclosures. An earlier report by the group was issued two months ago. “The collective efforts of servicers and government officials to date have not translated …
Thursday, April 24, 20083 Indicted In Sophisticated Florida Fraud SchemeBerry Louidort, Lauren Jasky, and Ralph Michel, Palm Beach County, Florida were charged in a Criminal Complaint filed in federal court on April 22, 2008. The defendants were arrested and are expected to make their initial appearances before United States Magistrate Judge Linnea R. Johnson on April 24, 2008 at 10:00 a.m. The defendants are charged with bank fraud, in violation of Title 18 United States Code, Section 1344. According to the Complaint, defendants Louidort, Michel and Jasky were involved in a sophisticated sub-prime mortgage fraud scheme in South Florida through which they …
Californian Indicted For Mortgage Based Ponzi SchemeCheryl Hernandez Camus, 36, Concord, California made her initial appearance in federal court in San Francisco on April 22, 2008 before United States Magistrate Judge James Larson. A federal grand jury in San Francisco had previously indicted Camus on April 8, 2008 on charges of mail and wire fraud in connection with a mortgage-based Ponzi scheme. Camus is scheduled for her next appearance in federal court in San Francisco on April 29, 2008 before United States Magistrate Judge James Larson and on May 5, 2008 before United States District Judge Marilyn Hall Patel. According to …
Wednesday, April 23, 20085 Sentenced To Federal Prison For Mortgage FraudVirginia Rose Novrit, 67, Hilton Head, South Carolina, Clarence Lorenzo Davis, 68, Hilton Head, South Carolina, Gregory Jerome Wings, Jr., 25, Atlanta, Georgia, Olympia D. Ammons, 31, St. Louis, Missouri, and Ronald Denzil Martin, Jr., 37, Lithonia, Georgia, were sentenced on charges of conspiracy, bank fraud, wire fraud, and money laundering related to a multi-million dollar mortgage fraud scheme. According to United States Attorney Nahmias and the information presented in court: From late 2004 through early 2006, Novrit, Davis, Wings, Ammons, and Martin participated in a mortgage fraud scheme that involved …
Tuesday, April 22, 20082 Mortgage Fraud Defendants Violate Terms of ReleaseWildor Washington, Jr. and Victoria Bennett were taken into custody after Magistrate Judge David J. Waxse ruled in favor of a motion to revoke their bonds. Washington and Bennett were charged in November 2007 in an indictment alleging that Washington, Bennett and four co-defendants took part in a mortgage fraud scheme through businesses Washington owned including Heritage Financial Investments, Legacy Enterprises, B&L Custom Development and Liberty Escrow. According to the indictment, Hamilton and the conspirators prepared fraudulent loan applications and submitted them to lenders in Kansas, Texas, Ohio, Missouri …
200 Foreclosure Rescue Victims Will Receive RefundsApproximately 200 Washington consumers who paid for a service that they thought would help save their homes from foreclosure will receive partial refunds under a new settlement announced by the Washington Attorney General’s Office. The homeowners each paid $1,200-$1,500 to Foreclosure Assistance Solutions LLC, of Clearwater, Florida. More than 70 percent of homeowners who signed up with Foreclosure Assistance Solutions ended up losing their homes anyway. The company went out of business in fall 2007. “We believe Foreclosure Assistance Solutions used coercive tactics to pressure consumers into paying for a service they really couldn’t …
Monday, April 21, 20082 Plead Guilty In $35M Mortgage Fraud CaseJonathan Edward Helgason, 45, Chisago, Minnesota, and Thomas Joseph Balko, 37, Rogers, Minnesota, along with their company, TJ Waconia LLC, entered their guilty pleas April 17, 2008, in Minneapolis before United States District Court Judge Joan Ericksen. According to their plea agreements, Helgason, a licensed real estate agent, and Balko were the owners of numerous companies, including TJ Waconia, Total Title LLC, Complete Real Estate Services, Inc. and CityWide Management, LLC and Investor’s Warehouse LLC (the TJ Group). From approximately 2005 to 2007, Helgason and
Ex Mayor Sharpe Convicted of FlippingSharpe James was convicted by a Newark, New Jersey, jury on all corruption charges against him in connection with a scheme that enabled his girlfriend, Tamika Riley, to fraudulently obtain steeply discounted city-owned land and resell it for hundreds of thousands of dollars in profits. The jury began deliberating midday on Wednesday, April 9. Jurors deliberated another four full days before announcing early this morning they had reached a verdict. Riley was convicted with James on the same five charges: three counts of mail fraud related to the sale of the city lots to …
Friday, April 18, 2008Stemming The Surge of Fraud And CorruptionA day after warning the Senate about a “tremendous surge” in the FBI’s mortgage fraud investigations, Director Robert Mueller talked in more detailed terms about the growth in both corporate fraud and public corruption cases at the annual conference of the American Bar Association’s Section of Litigation in Washington, D.C. Despite limited resources, Mueller said that the FBI’s corporate fraud cases have grown more than 80 percent since 2003. Last year, we had more than 490 corporate and securities fraud convictions. He predicted that the problem will only worsen because of the “ripple effect of the …
Thursday, April 17, 2008Judge Dismisses Borrower Class ActionA federal judge dismissed a lawsuit by a class of people victimized by the owner of a defunct mortgage company who allegedly operated a mortgage fraud scheme. In the ruling, U.S. District Judge James Giles said the banks that underwrote the mortgages had no obligation to monitor the Reading, Pennsylvania-based broker, Wesley Snyder, and that neither Synder or any of his companies were agents of the lenders. Plaintiffs Douglas A. and Andrea M. Jones filed their initial class action complaint in the Berks County Court of Common Pleas on September 25, 2007, …
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