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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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- 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 - 4 Indicted In Multi Million Dollar Fraud Scheme - FinCEN Report Warns of Methods and Trends in Residential Real Estate Industry |
Tuesday, April 15, 2008Man Tries To Obtain A HELOC On Home He RentsEduard Sargsyan, 55, was arrested by special agents with the Federal Bureau of Investigation after completing loan documents to secure a $500,000 home equity line of credit on the house he was renting at a Bank of America branch in Sherman Oaks, California. According to a criminal complaint, during fall of 2007, Sargsyan rented a Valley Village, California home, which was owned by a family trust. In February, 2008, a Trust Transfer Deed was recorded with the Los Angeles County Recorder’s Office, which transferred title of the home to Sargsyan. In March, 2008, …
Missouri Man Pleads Guilty to Loan App MisrepsJohn “Jack” Gorecki, St. Charles, Missouri, pled guilty to bank fraud charges involving false loan applications submitted to financial institutions in the St. Louis, Missouri area.
Man Indicted For Mortgaging And Selling Properties He Did Not OwnDaryl W. Miller, St. Charles, Missouri, has been indicted on mail and wire fraud charges for selling two properties and then, after he no longer owned these properties, taking out a mortgage against one and selling the other for a second time. According to the indictment, between June 2006 and March 2007, Miller owned commercial and residential properties in the St. Louis and St. Charles, Missouri areas. In July 2006, Miller deeded two properties, one in Maryland Heights and one in St. Charles, to the first purchaser. In August and December …
Monday, April 14, 20082 Pennsylvanians Plead Guilty to Misrepresentation ChargesAaron Thompson, 32, Pittsburgh, Pennsylvania, and Randy Carretta, 44, Pittsburgh, Pennsylvania, pleaded guilty to one count each of Participating in a Wire Fraud Conspiracy before United States District Court Judge Joy Flowers Conti and Chief United States District Court Judge Donetta Ambrose, respectively. In connection with the guilty plea of Thompson, Assistant United States Attorney Brendan T. Conway advised the court that Leon Truskowski and Colleen Chiavetta operated a mortgage broker business, located in Pittsburgh’s West End, called People’s Home Mortgage that assisted borrowers in obtaining financing to purchase homes. Thompson …
Ohio Property Owner Pleads Guilty To Straw Borrower SchemeDonald F. Green, 48 Columbus, Ohio, pleaded guilty in United States District Court to one count of income tax evasion, one count of conspiracy to commit bank fraud and wire fraud, and one count of bank fraud in connection with his role in a mortgage fraud scheme that fraudulently secured more than $2.6 million in mortgage loans in 2003 and 2004. According to a statement of facts filed with Green‘s plea agreement, Green bought houses usually in need of substantial repairs in distressed neighborhoods in Columbus, Ohio in 2003 and 2004 at or near …
Friday, April 11, 2008Mortgage Brokers Sentenced In Separate Fraud SchemesDavid Kennedy and LaVonne Hamilton, two former mortgage brokers in Jackson, Mississippi, were each sentenced for their respective roles in separate mortgage fraud schemes. David Kennedy was sentenced to serve 24 months in federal prison followed by 3 years of supervised release. LaVonne Hamilton was sentenced to serve 16 months in federal prison followed by 2 years of supervised release. In November 2007, Kennedy and Hamilton each pleaded guilty to conspiracy to commit money laundering of the proceeds from their individual mortgage fraud schemes. In August 2006, Kennedy and Hamilton …
Thursday, April 10, 2008Texas AG Shuts Down Foreclosure Rescue FirmAn order by the Bexar County District Court requires Foreclosure Assistance Solutions Inc. of Florida, and its principal operators, Herb Zerden and Adolfo Quintero, to return $370,000 to 338 Texas homeowners. Additional defendants J.W.W. Services Inc. of California and owner John Woodruff are also included in the judgment. Another $105,000 will be held in escrow to assist remaining homeowners who can demonstrate they were victimized by this scheme. “At a time when regulators, policy makers and stakeholders are working to help struggling families, unscrupulous operators are scheming to profiteer at homeowners’ …
DC Man Sentenced for Role in Mortgage Refinancing SchemeKhalil Salim Arbid, 35, Washington, D.C., was sentenced on charges of mail fraud in connection with a mortgage refinancing scheme that took place from approximately June 2007 to November 2007. Senior United States District Judge James C. Cacheris sentenced Arbid to 16 months in prison, 3 years supervised release, and ordered him to pay $650,613.61 in restitution. According to court documents, Arbid fraudulently attempted to obtain approximately $1,996,131.02, and successfully obtained $670,132.02, through the refinancing scheme. To carry out the scheme, Arbid took ownership of a residential property located in Vienna, …
New Mexico Woman Sentenced in Identity Theft and Real Estate FraudLisa Liberi, aka Lisa Richardson, 42, New Mexico, was sentenced in connection with felony charges involving identity theft and forged documents. Liberi appeared in San Bernardino County, Rancho Cucamonga, Superior Court, on March 21, 2008. She was sentenced to a state prison term of 8 years, imposed but stayed, and placed on supervised probation for 3 years as part of a plea agreement. Liberi was sentenced on ten felony counts ranging from Grand Theft, Forgery, and Filing False Documents. From 2000 to 2004, Liberi engaged in a complex fraud involving falsification of police reports, …
Wednesday, April 09, 2008Real Estate Agent Sentenced for Bank FraudJohn Turner Jr., 52, a licensed real estate agent, has been sentenced to 18 months in federal prison for bank fraud and engaging in monetary transactions with criminally derived property stemming from a mortgage fraud investigation. Turner was also ordered to pay a fine in the amount of $2,000 and serve three years of supervised release upon completion of his prison term.
5 Plead Guilty to Mortgage FraudSharon Chamberlain, 40, Pittsburgh, Pennsylvania, and Ericka Stanford, 35, Carnegie, Pennsylvania, pleaded guilty to one count each of Participating in a Wire Fraud Conspiracy before United States District Court Judge Joy Flowers Conti. Stanford also pleaded guilty to one count of Money Laundering. Andrea Revak, 47, Pittsburgh, Pennsylvania, and Aaron McCarthy, 43, Pittsburgh, Pennsylvania, pleaded guilty to one count each of Participating in a Wire Fraud Conspiracy before Chief United States District Court Judge Donetta Ambrose. Marlin Sprouts, Jr., 52, Uniontown, Pennsylvania, pleaded guilty to one count of Participating in …
Florida Man Pleads Guilty To Mortgage ScamAllen Plowden, a/k/a “Jay”, 42, North Miami, Florida, pleaded guilty to conspiracy to commit mail fraud and bank fraud arising out of a scheme to defraud financial intuitions—including Countrywide Financial and NovaStar Mortgage—out of over 2 million dollars in a phony home mortgage scheme. According to the Information to which Plowden pleaded guilty, other documents filed in this case, and statements made at Plowden’s guilty plea proceeding: Plowden and his co-conspirators defrauded financial institutions by applying for bogus home loans, the proceeds of which were withdrawn via numerous ATM transactions in the …
Tuesday, April 08, 2008Guilty Plea In $6M Mortgage Fraud CaseLuis Uribe, 28, Tampa, Florida, pleaded guilty to one count of wire fraud and one count of aggravated identity theft. The maximum penalty Uribe faces is thirty years’ imprisonment and a $1million fine. According to the plea agreement and court documents, from July 2006 through September 2007, Uribe committed wire fraud and aggravated identity theft. Uribe was a licensed mortgage broker in Florida and was able to originate mortgage loans. Uribe and others fraudulently submitted mortgage applications under false pretenses, obtaining and disbursing the proceeds of those loans, including …
Tax Charges Added To Mortgage FraudGregory Claude Brown was charged by a federal grand jury in West Palm Beach, Florida, with failing to timely file his federal income tax returns for the 2001 through 2005 tax years, and with income tax evasion with regard to his 1998, 1999, and 2001 through 2005 taxes. Previously, on December 11, 2007, the same grand jury charged Brown and co-defendant Monica Martinez with conspiracy to commit wire fraud and wire fraud in connection with applications for mortgages in South Florida. On February 12, 2008, the grand jury charged Brown with an additional …
Monday, April 07, 2008Broker Pleads Guilty To FraudChristopher Rakel, 29, St. Louis County, Missouri, pled guilty to fraud charges involving a far-ranging scheme to defraud banks and other mortgage lenders. As previously reported by Mortgage Fraud Blog, Rakel, a mortgage broker with Tri-State Mortgage, facilitated the purchase of dozens of fraudulent real estate transactions, primarily in South St. Louis, Missouri, during 2005 and 2006. Rakel prepared fraudulent loan applications and other documents to assist buyers in obtaining millions of dollars in financing they could not otherwise obtain. The mortgage fraud scheme involved dozens of properties, and a number …
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