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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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- 2 Year Sentence Plus Restitution For Fraudster - Sacramento Man Indicted For Multiple Schemes - Government Drops Remaining Charges Against Sharpe James - Olympia Mortgage Principals Indicted - 7th Defendant To Plead Guilty In Massive Mortgage Fraud Scheme - 2 Sentenced In Downpayment Loan Scheme - Maryland Man Heads To Prison For Defrauding Lenders - Husband And Wife Convicted For Real Estate Fraud - Loan Originator Sentenced For Straw Buyer Scheme - Idaho Dept of Finance Issues Shuts Down Bait And Switch Scheme |
Thursday, April 10, 2008DC 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 …
Settlements Reached In Foreclosure Rescue CaseSettlements totaling $89,000 have been reached with four defendants in a foreclosure rescue civil case in Maricopa County, Arizona Superior Court. Lin Liou, 47, Chandler, XiaoFen Liu, 33, Laveen, Liang Zhao, 44, Chandler and Qiao Zhu, 37, Chandler, all of Arizona, were allegedly straw buyers who obtained mortgage loans worth millions of dollars that were used to remove equity from the homes of people facing foreclosure. Straw buyers are loan applicants used by scam artists to obtain home loans. They usually do not intend to occupy the properties they are buying or pay off …
Friday, April 04, 2008Jury Convicts 5 In Austin Texas Area Mortgage Fraud SchemeCornelius Robinson, 47, Austin, Texas, was convicted after a nine-day trial. Robinson was the leader and organizer of the fraud scheme. Robinson was convicted of conspiracy to make false statements related to a loan, conspiracy to commit wire fraud, five substantive counts of wire fraud, 9 substantive counts of false statements related to a loan, one count of aiding and abetting the receipt of commissions or gifts from loans by a bank employee, conspiracy to commit money laundering and 7 substantive counts of money laundering. Robinson was acquitted of one false statement charge;
FinCEN Releases Updated Mortgage Fraud ReportThe Financial Crimes Enforcement Network (FinCEN) today released an update to its November 2006 mortgage loan fraud assessment, which is based upon analysis of suspicious activity reports (SARs) provided by the financial industry. The previous study examined a statistical sample of SARs reporting mortgage fraud filed between April 1996 and March 2006. This updated study continues the analysis for reports filed through March 2007. As compared to the previous ten years of SAR reporting, data analysis for the most recently studied time period indicates a 50 percent increase in the number of SARs that reported intercepting …
Thursday, April 03, 2008Florida Title Agent Sentenced To 30 MonthsAndrea Batronie, 31, Land O’ Lakes, Florida, was sentenced to two and a half years’ imprisonment to be followed by three years of supervised release for conspiring to commit mail, bank and wire fraud. As identified in open court, Batronie conspired with defendant Luis Uribe, who pled guilty on March 27, 2008, to wire fraud and aggravated identity theft. Batronie was found guilty on October 26, 2007. According to court documents, from July 2006 through September 2007, Batronie conspired with Uribe to commit mortgage fraud. Batronie was a licensed …
2 Charged In Mortgage Fraud SchemeDavid Paul, 50, a real estate investor, and Diane Flannery, 47, a mortgage broker and loan officer for Source Mortgage Company, were indicted and charged with mail fraud in connection with a mortgage fraud scheme centered in Reading, Pennsylvania, between April 2002 and July 2003. Some of Paul‘s buyers were unable to qualify for affordable mortgage loans to finance the purchase of their houses. According to the Indictment, Paul steered them into Federal Housing Administration insured loans and then falsified documents associated with those loans. The fraudulent documents were meant to …
Wednesday, April 02, 2008Guilty Plea In Pennsylvania Mortgage Fraud SchemeFrank A. Kartesz, II, 39, Erie, Pennsylvania, pleaded guilty in federal court to charges of conspiracy and wire fraud. In connection with the guilty plea, Assistant United States Attorney Christian A. Trabold advised the court that Kartesz and others conspired to falsify mortgage loan applications for home buyers who could not have otherwise obtained a mortgage. Kartesz and others also accompanied prospective home buyers to the buyers’ banks and deposited money into the buyers accounts to make it appear as if the buyers had higher account balances. The following properties were included in …
Kansas Man Indicted For Inflating AppraisalsJames K. Lamm, 42, Olathe, Kansas, is charged with eight counts of wire fraud. Lamm is accused of fraudulently inflating real estate appraisals so that mortgage loans would be approved that otherwise would not have been approved. In that way, Lamm increased his income from commissions on the mortgage transactions he handled. According to the indictment, from July 23, 2001, to July 9, 2004, Lamm worked for the Bank of Blue Valley, which has six banking locations in Johnson County, Kansas. He was employed as a mortgage specialist for the bank’s …
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