Wednesday, August 10, 2005
Mortgage Brokers Indicted in Mississippi Loan Fraud
Government Alleges Trio Falsified Documents
A 47 count indictment, including charges of fraud and money laundering, was handed down in Mississippi naming as defendants: Michael Lance Persac, Mortgage Stop Inc., Hinds County, Mississippi Jason Ellis, Mortgage Stop and Professional Mortgage Consultant Corp., Hinds County, Mississippi Carroll Ellis Jr., father of Jason Ellis According to media...
Sentences in New Jersey Fictitious Property Sale
Two women will serve terms of house arrest
Hafeeza Naba, 28, Philadelphia, Pennsylvania was sentenced to six months house arrest, five years probation was fined $3,000. Ayanna Wright, 26, Maple Shade, New Jersey, was sentenced to six months house arrest and five years probation. Both women pleaded guilty to wire fraud and conspiracy to commit wire fraud in connection with allegations...
Third Defendant Indicted in $8M Illinois Mortgage Fraud
Ciota Accused of Using Relatives as Borrowers
An amended indictment has been handed down that adds eight counts of bank fraud, wire fraud, mail fraud and money laundering against against Frank Kelly Ciotta, 44, Riverton, Illinois in the case currently proceeding against Gary Knox and Dennis Wiese (click here to view the post on the original indictment.) The new indictment alleges that Ciota...
Tuesday, August 09, 2005
Four Charged with Mississippi Mortgage Fraud
“Mortgage fraud is occurring throughout the United States, including here in Mississippi. We are seeking to bring to justice those people who are enriching themselves by committing crimes at the expense of borrowers and lenders.”
-U. S. Attorney Dunn Lampton
A federal grand jury returned a 47-count indictment against Michael Lance Persac, Jason Ellis, and Carroll F. Ellis, Jr., and a 20-count indictment against Toby Wayne Goss. All four were charged with conspiracy to commit wire fraud and money laundering in connection with a mortgage loan fraud scheme. According to the 47-count indictment, Persac...
Mortgage Fraud Charges Against Man Linked to Osama Bin Laden
Hamdi Accused of Inflating Income on Mortgage Application
An indictment was unsealed that charged Tarik Hamdi, 43, Herndon, Virginia with wire fraud in connection with allegations that he inflated his income on a mortgage loan application along with immigration fraud. Hamdi is a naturalized U.S. citizen who emigrated from Iraq. Hamdi is believed to be out of the country and has not been arrested...
Monday, August 08, 2005
Indianapolis Appraiser Charged in Two Separate Schemes
Spicer Agrees to Plead Guilty
James Lee Spicer, 32, Indianapolis, Indiana, was charged with two counts of conspiracy to commit mail fraud in connection with allegations that he participated in two separate conspiracies to fraudulently obtain large amounts of money from lending institutions by submitting false loan applications, fraudulent financial documents, and falsely...
DC Real Estate Developer Receives Maximum Sentence
Brodie Sentenced to 57 Months for Role in Mortgage Fraud Scheme
Wilbert Brodie, real estate developer, Mount Rainier, Maryland was sentenced to four years and nine months in prison and ordered to pay over $355,000 in restitution in connection with a mortgage loan fraud scheme in the Washington D.C. Area. Brodie was convicted of conspiracy and wire fraud in connection with allegations that he bought nine...
Washington AG Charges Mortgage Loan Officer with First-Degree Theft
The Financial Crimes Unit of the Washington state Attorney General’s Office has filed charges against a loan officer who stole more than $8,500 in fees designated for an early mortgage pay-off program. J. Anthony Hansen, 42, Tacoma, Washington was charged with one count of first-degree theft and six counts of second-degree theft and a warrant...
Friday, August 05, 2005
Georgia Police Arrest Three After Fraudulent Closing
Defendants Attempted to Obtain Disbursement Checks
Three people were arrested in Gwinnett County, Georgia in connection with an alleged mortgage fraud scheme involving a half-million dollar home at 559 East Avenue, Atlanta, Georgia. Those arrested and charged with one count of residential mortgage fraud after the real estate closing in Duluth, were: Tasha L. Williams, 34, straw-borrower,...
Wednesday, August 03, 2005
Ft. Lauderdale Code Enforcement Chief Resigns
Voluntary Resignation Comes Four Months After Suspension
Lori Milano, the Fort Lauderdale, Florida city code enforcement chief, resigned from her job, effective August 12, 2005. Four months ago, Milano was suspended from her job after city officials learned that she was the target of a federal criminal investigation. In March, Milano’s office’s was searched pursuant to a federal search warrant...
Tuesday, August 02, 2005
NC Attorney General Sues to Stop Manufactured Home Seller
“These companies mislead their customers every step of the way, from the initial sales pitch to the closing, as a result, home buyers get stuck with mortgage payments they can’t afford on overvalued properties.”
- North Carolina Attorney General Roy Cooper
The North Carolina Attorney General filed a civil lawsuit against CMR Properties, Home Town USA, managers Christopher P. Wollin, Jason Gonzales and Kendrick Jackson, former sales associate Wendell Lindo, Blaine Stowe, a mortgage broker and Jerry Honeycutt, a former appraiser. CMR Properties and Home Town USA sell parcels of land with...
Monday, August 01, 2005
Connecticut Real Estate Developer Arrested in Bank Fraud
Authorities Claim Fraud may Exceed $20M
Andrew M. Kissel, 45, a real estate developer who builds multi-million dollar homes in Greenwich, Connecticut, was indicted on charges of bank fraud in connection with allegations that he recorded false releases of existing mortgages in order to obtain new financing from banks. Kissel was released on $1 million bond after an appearance in U.S....
Illinois Woman Sentenced in Identity Theft
Meija-Cruz Used Assumed Identity Since 2001
Isabel Meija-Cruz, 39, Aurora, Illinois was sentenced to 36 months’ probation, 140 days in jail and ordered to pay $1,362 in court fines and fees after pleading guilty to financial identity theft in connection with her use of New York woman’s identity since 2001. According to authorities, Meija-Cruz confessed to using the name and Social...
Friday, July 29, 2005
Ohio Federal Court Accepts Trester Guilty Plea
Ronald Trester waived indictment and entered a plea of guilty to a three count indictment charging bank fraud, conspiracy and income tax evasion in connection with a flipping scheme in the Cincinnati, Ohio area. The charges carry maximum combined period of imprisonment of 40 years. After pleading guilty, he was released on his own...
Banks, Law Enforcement Officials Join Together To Better Fight Identity Theft and Consumer Fraud
SEATTLE--(BUSINESS WIRE)--July 27, 2005--Nearly 100 representatives of banks and other financial institutions are meeting today with law enforcement agencies from all levels of government to develop improved ways for fighting identity theft and other threats to customer data security. “We’re hoping that as a result of today’s discussions we can...
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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 
