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...
Thursday, July 28, 2005
Eight Indicted in Chicago Mortgage Fraud Scheme
The following defendants were named in a thirteen count indictment handed down in Chicago, Illinois in connection with allegations that they engaged in a mortgage fraud scheme that involved approximately $6.2 million in loans. The indictment alleges mail fraud, wire fraud and making false statements in connection with loan and credit...
Guilty Plea in California Home Theft Case
Rust may withdraw plea to some counts if restitution made
Lynne Allen Rust, 43, Adelanto, California plead guilty to theft from an elder or dependent adult; obtaining money, labor or property by false pretenses; attempt to file a false or forged instrument; forgery; and grand theft of personal property in connection with allegations that she attempted to steal the home of an elderly couple facing...
Maryland Title Company sued in Incomplete Transactions
Homemaxx Faces Multiple Lawsuits
Springfield Financial Company, L.L.C., dba SFC, L.L.C, Fairfax Station, Virginia filed a civil action in a Maryland Federal Court naming as defendants First American Title Insurance Company, Homemaxx Title & Escrow, L.L.C., Hampstead, Maryland, Daniel E. Fink Jr., Hampstead, Maryland (alleged to be a principal of Homemaxx) and J. Scott Morse,...
Bail Bid Refused in Fraud and Forgery Case
Judge Refuses to Accept Unverified Funds
Edgar Bernal Duarte, 29, Chula Vista, Calfiornia who worked as a loan consultant at Sell and Save Realty and Loans, was indicted July 14, 2005 on charges of forgery, fraud and theft, according to media reports. The charges arise from allegations that he represented himself as a real estate salesperson and lender but did not perform the services...
Wednesday, July 27, 2005
Mortgage Fraud Charges Severed in Delaware Racketeering Case
Charges on loans will proceed separately
A U.S. District Court judge in Delaware severed wire fraud charges against Sherry L. Freebery (arising from an alleged fraudulent mortgage transaction) from the racketeering case proceeding against former New Castle County, Delaware Executive Tom Gordon and top aide Freebery. The ruling was included in an order that dismissed multiple charges –...
OFHEO Finalizes Regulation on Mortgage Fraud
The Office of Federal Housing Enterprise Oversight (OFHEO) has finalized for publication in the Federal Register a regulation requiring Fannie Mae and Freddie Mac to report mortgage fraud or possible mortgage fraud to OFHEO in a timely fashion. The regulation also requires that Annie Mae and Freddie Mac maintain adequate internal controls,...
Monday, July 25, 2005
Final Dorean Principal Arrested
Johnson Faces Extradition to Utah
Kurt F. Johnson, 42, was arrested in Hayward, California last week. Johnson faces extradition to Utah on ten felony charges including communications fraud, racketeering, theft, false and fraudulent insurance act and conspiracy arising from his alleged participation in the Dorean Group mortgage elimination scheme. Dale Scott Heineman, 45, ...
Redwood Trust Principal Indicted
Titus Believed to Have Taken over $4.2M from Homeowners
Kenneth G. Titus Sr., 60, a former plumber from Scotia, New York and the principal of Redwood Trust in Rotterdam, New York was indicted on charges of mail fraud, wire fraud and money laundering in connection with allegations that he ran a mortgage elimination scheme that defrauded numerous homeowners of millions of dollars. (Redwood Trust of...
Feds Arrest Man Accused of Foreclosure Avoidance Scam
Cash Charged in Illinois
John D. Cash, aka Baba Ankh, aka Dr. Typhon.Ra, 45, formerly of Markham, Illinois, was arrested in Atlanta last week by federal authorities. The government seeks to extradite Cash to Chicago, Illinois where he has been indicted on 11 counts including wire fraud, mail fraud and bankruptcy fraud in connection with allegations that he ran a...
Foreclosure Redemptionist Convicted in Baltimore
Federal Jury Finds Coley Guilty on 13 Counts
Gary T. Coley was convicted by jury in a Baltimore, Maryland federal Court after an eight day trial on 13 counts of issuing false government financial instruments and aiding abetting in connection with a foreclosure rescue scam. According to government sources, Coley was a self-proclaimed “Redemptionist” who acted as a Foreclosure Specialist...
Friday, July 22, 2005
The True Costs of Mortgage Fraud
The following is an op-ed article written by Patrick L. Meehan, U.S. Attorney, Eastern District of Pennsylvania entitled “The True Cost of Mortgage Fraud’ following the sentencing of Philip Garland. Garland, real estate developer, Lancaster, Pennsylvania, was sentenced to 18 months in prison and ordered to pay $1,150,000 in restitution to HUD...
MBA Selects Mortgage Fraud Blog as News Provider
Mortgage Fraud Against Lenders Resource Center Features Site News
Mortgage Fraud Blog has been selected as the exclusive provider of news for the Mortgage Bankers Association’s Mortgage Fraud Against Lenders Resource Center. Interthinx and The Dollar Law Firm, PC have partnered to provide the news content through Mortgage Fraud Blog. Headlines and excerpts of stories from MFB will appear on the resource...
Balf is no “Robin Hood”
Last week a federal judge likened Patrick Balf (a Pennsylvania man who was convicted of wire fraud, tax evasion and filing false income tax reforms in connection with a mortgage fraud scheme) to Robin Hood. An editorial in The Morning Call sets the record straight. Noting that “The Banking Department and the U.S. Attorney’s office are trying to...
| 
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 
