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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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- 16 Indicted In New York Mortgage Fraud Scheme - Mortgage Fraud Scheme Leads to Prison Term for Houston Man - Loan Officer Sentenced to 41 Months in Prison for Mortgage Fraud - Phoenix Mortgage Broker Who Defrauded Seniors Gets Prison Term - Jeffrey Miller Trial Begins in Topeka, Kansas - Man Sentenced To 22 Years For Defrauding Church, Among Others - 2 Indicted In Major Mortgage Fraud Scheme - Mortgage Broker Sentenced to 12 Months Home Confinement - 2 Guilty Convictions In NY Foreclosure Rescue Scam - Guilty Plea In Multi-Million Dollar Mortgage Fraud And Telemarketing Schemes |
Friday, January 28, 2005Former Settlement Agent InvestigatedStewart Title Filed Suit for Misappropriation The Westmoreland County Pennsylvania District Attorney is investigating Susan Dougherty, Hempfield Township, Pensylvania a former Greensburg real estate settlement agent who is accused in a civil lawsuit by Stewart Title Insurance Co., of Texas of misappropriating nearly $700,000 for her personal use. The civil complaint filed alleges Dougherty stole $682,000 through her firm, Dougherty Settlement Services. Last week, First Commonwealth Bank of Indiana filed a mortgage foreclosure against Dougherty, alleging she failed to pay the nearly $33,000 balance of the mortgage on a Greensburg house she purchased in 2001. Read More...
Updates on Indiana IndictmentsPolice Officer Resigns and Other News Officer James McClung decided to retire and resigned immediately from his position with the Indianapolis Police Department after being indicted earlier this week. Officer Michael C. Smith was placed on unpaid suspension pending review by the merit board. For more, visit the WISH-TV Article There are also a couple pictures of the flip properties:
Thursday, January 27, 2005Ten Indicted in Indiana Mortgage FraudThree Police Officers Allegedly Involved Ten people, three of them police officers, were indicted on charges of conspiracy, wire fraud and money laundering in connection with a mortgage fraud scheme involving 43 properties in Indianapolis (34), Marion (8) and Fairmont (1), Indiana. Those charged were:
Five Sentenced in ID Theft RingFour Year Sentence for Ringleader The conspirators in a scheme to steal credit report profiles of more than 3,500 customers of Weichert Financial Services, Inc., Morris Plains, New Jersey were sentenced to prison: Ronald Hyppolite, Irvington, New Jersey: 55-month prison sentence Juno Geneus, 25, Haiti, 33 month prison sentence Allen Cadestin, 23, Irvington and Allentown, Pennsylvania, 16 month prison sentence Michelet Alexis, 33, Brooklyn, New York, probation. All defendants were ordered to pay restitution of approximately $30,000.
Loan Officer ArrestedAccused of Defrauding Refinance Clients Edgar Mauricio Berrazueta, 43, an assistant loan officer at Pacific First Bancorp in Oxnard, California was charged with grand theft, forgery, manufacture of false identification documents and attempting to dissuade witnesses, in connection with allegations that he promised homeowners lower monthly payments through refinancing. Instead, the refinance loans had higher payments. He is also accused of diverting cashouts on several refinances and pressuring victims not to bring charges.  mortgage fraud
Baltimore City Mortgage Broker Pleads GuiltyLast Conviction in Flipping Scheme Pantelis I. Pete Karsos, 45, Towson, Maryland plead guilty to mail fraud in connection with a mortgage fraud scheme involving flips in Baltimore City, Maryland. Sentencing is scheduled for March 25, 2005.
Massachusetts Man Charged with Identity TheftObtained Information from Refinance Transaction Richard P. Blaustein, 54, Lincoln, Massachusetts was charged with unauthorized practice of law, larceny, identity fraud and forgery. It is alleged that Blaustein defrauded a Boston woman by using personal financial information he had obtained while assisting her in refinancing her mortgage to purchase a vehicle and and complete other fraudulent transactions. mortgage fraud
Wednesday, January 26, 2005Former Danville Loan Officer Sentenced for Bank FraudUrbana, 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 restitution in the amount of $132,670.79. Further, for a period of 10 years, Boyer will be prohibited from employment by and/or ownership of stock in a federally insured financial institution.
Essex Grand Jury Indicts Attorney For Theft Of Client FundsAn Essex County Grand Jury returned a five count indictment charging Michael Scoon, 52, attorney, Union, New Jersey with two counts of Third Degree Theft by Failure to Make Required Disposition of Property Received, two counts of Third Degree Misapplication of Entrusted funds and one count of Fourth Degree Forgery. The indictment alleges that , who had a law practice in Maplewood, misappropriated funds totaling $49,689.72 that were being held in his attorney trust account on behalf of three clients. In February 2002, Scoon settled a personal injury case without his clients, Alvain and Cherril Rogers, …
Erpenbeck Bankers SentencedJohn Finnan, 51, former president and co-founder of now defunct Peoples Bank of Northern Kentucky was sentenced to 5 years and 3 months in federal prison and Marc Menne, 48, executive vice-president of the same institution was sentenced to 4 1/2 years in connection with their role in the Erpenbeck mortgage fraud. Finnan and Menne pleaded guilty in June to three felonies each arising from their actions in keeping Erpenbeck Co. including allowing overdrafts and making unauthorized loans. Finnan and Menne also ran a company known as JAMS Properties that bought …
Tuesday, January 25, 2005PinnFund Executive SentencedKeith G. Grubba, 42, was sentenced to five years and three months in federal prison and ordered to pay approximately $187 million in restitution to victims after pleading guilty to conspiracy to commit wire fraud, conspiracy to commit money laundering, tax evasion and making false statements to HUD.
Monday, January 24, 2005Federal Judge Levies Sanctions in Mortgage Elimination SchemeClick Here - Judge Alsup’s Order - Available on Mortgage Fraud Blog U.S. District Judge William Alsup, Northern District of California Federal District Court, issued a ruling in the ongoing Mortgage Elimination Cases last week. The cases, which were filed on behalf of various trusts holding title to properties (trustees were Scott Heineman and Kurt Johnson) in the Northern District of California, alleged various predatory lending and RICO causes of action against lenders. The judge dismissed previously dismissed one of the actions without leave to amend and sanctioned the attorney for the trust. The remaining cases were voluntarily dismissed and the lenders sought orders for attorney fees in …
State Expects to File Criminal ChargesThe New Jersey Attorney General’s Office expects to file criminal charges against Barry C. Fauntleroy, who headed a multimillion-dollar property-flipping operation in North Jersey.
Capital Title Placed in ReceivershipCapital Title Co.,, St. Louis, Missouri, was shut down and placed in receivership last week. According to court documents, the company has been bouncing checks for six months and has a $6.5M deficit. The St Louis Post Dispatch article states that one of two of Capitals underwriters is investigating for alleged diversion of escrow funds and that sources close to the case have said that funds were stolen from the company. According to court receivership documents, over the past 18 months, Capital failed to pay Land Title $600,000 …
Small Receives Small SentenceTestify Against Your Husband - Stay out of Prison Kelli B. Small , Broomfield, Colorado was sentenced to probation and 160 hours of community service for her role in a mortgage fraud scheme in Denver, Colorado - she and her husband (along with several other people) were accused of stealing the identities of people who responded to help wanted ads and using those identities to obtain loan proceeds. This sentence was a result of a plea bargain that includes Small‘s cooperation and testimony against her husband. Previous posts on this story: -->
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