Wednesday, April 30, 2008
Fraudulent Deed Scheme Equals Prison
Silvestre Cortez, 45, Fontana, California, was sentenced to a felony charge connected to a fraudulent real estate deed. Cortez appeared in San Bernardino County Fontana Superior Court and was sentenced to sixteen (16) months in prison for forgery as part of a plea agreement. He will be placed on parole for approximately 3-4 years when released...
Unlicensend Loan Officer Sentenced to 15 Months
Sennett 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...
Tuesday, April 29, 2008
Former City Housing Director Sentenced For Straw Borrower Scheme
Matthew 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...
Guilty Pleas In Scam To Defraud Long Beach Mtg
Iftikhar 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...
Monday, April 28, 2008
Mortgage Fraud Orchestrators Sentenced
Richard 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. ...
DC Man Convicted For Forging 14 Deeds
Duane 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....
Friday, April 25, 2008
Foreclosure Prevention Falls Short
Citing 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...
Thursday, April 24, 2008
3 Indicted In Sophisticated Florida Fraud Scheme
Berry 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...
Californian Indicted For Mortgage Based Ponzi Scheme
Cheryl 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...
Wednesday, April 23, 2008
5 Sentenced To Federal Prison For Mortgage Fraud
Virginia 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...
Tuesday, April 22, 2008
2 Mortgage Fraud Defendants Violate Terms of Release
Wildor 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 ...
200 Foreclosure Rescue Victims Will Receive Refunds
Approximately 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...
Monday, April 21, 2008
2 Plead Guilty In $35M Mortgage Fraud Case
Jonathan 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...
Ex Mayor Sharpe Convicted of Flipping
Sharpe 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....
Friday, April 18, 2008
Stemming The Surge of Fraud And Corruption
A 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...
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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 
