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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 |
Monday, March 31, 200810 Indicted In Colorado Fraud SchemeColorado Attorney General John W. Suthers will announce the criminal indictment of ten individuals (a real estate broker, a mortgage broker, a secretary/assistant, a buyer and income property investors) operating as a group to unlawfully take equity cash out of real estate acquisitions. The members of the enterprise used real estate contract amendments, falsified loan applications and/or falsified invoices to deceive mortgage lenders into paying money to the enterprise. The money was paid through the use of various shell corporations and limited liability companies controlled by enterprise members. The entities were set up at the direction of real …
Friday, March 28, 2008Missouri Basketball Coach SentencedFloyd Irons was sentenced to one year in prison for his role in a mortgage fraud scheme, according to media reports. As previously reported by Mortgage Fraud Blog, Irons and John Mineo, Jr., a Missouri restaurant operator, pled guilty to wire and mail fraud charges in connection with a million dollar mortgage fraud scheme.
Jury Convicts In Rebate Coupon SchemeTerry Hugh Mahon, 69, Broken Arrow, Oklahoma, was convicted by a federal jury in connection with a fraudulent investment scheme involving rebate coupons and home mortgages. His co-defendant, Grover Harold Phillips, 70, Stillwater, Oklahoma, pled guilty to conspiracy and money laundering in connection with this scheme. On November 14, 2007, a federal grand jury indicted Mahon and a co-defendant, Grover Harold Phillips, on charges of conspiracy, mail fraud, and money laundering. Phillips operated through a Nevada business trust called Amsterdam Fidelity Business Trust; Amsterdam’s offices were at Phillips’s home …
Thursday, March 27, 2008Idaho Bans Florida Foreclosure RescueMortgage Assistance Solutions, LLC, a Florida foreclosure rescue company that sent advertisements to consumers claiming their homes were in foreclosure, can no longer do business in Idaho. Mortgage Assistance Solutions entered into a settlement agreement with the Attorney General that prohibits the company from advertising or engaging in any transaction involving an Idaho consumer or property in Idaho. Idahoans filed complaints against Mortgage Assistance Solutions alleging that they were sent a direct-mail advertisement that stated, in bold, red letters: “FORECLOSURE COMPLAINT NOTICE.” The advertisement stated that the consumers’ homes were “scheduled to be sold at …
LA FBI Comments On The Latest ScamWhat do you get when you combine two popular rackets these days—identity theft and mortgage fraud? A totally new kind of crime: house stealing. Here’s how it generally works: … The con artists start by picking out a house to steal—say, YOURS.
Wednesday, March 26, 2008Real Estate Agent Admits SchemeMichael John Sorensen, Jr., 40, Anchorage, Alaska, pleaded guilty to wire fraud associated with kickbacks he received from home sales in Anchorage, Alaska. In connection with the guilty plea, Assistant United States Attorney Retta Randall advised the court that Sorensen was a real estate agent licensed by the State of Alaska and an associate broker with ReMax Properties, Inc. Sorensen also owned a remodeling and construction company called Right Way Construction. Using Right Way Construction, Sorensen devised a scheme to obtain money by means of material false representations. The …
California Mortgage Fraud Task Force EstablishedIn recent months, an Eastern District of California Mortgage Fraud Task Force has been established. This action was taken as a result of the significant increase in reported mortgage fraud as economic conditions and the housing market have worsened. Members of the task force include representatives from the U.S. Attorney’s Office, FBI, IRS-CI, the Department of Housing and Urban Development, the United States Bankruptcy Trustee’s Office, and the California Department of Real Estate. ”Mortgage fraud is a very real problem, both legally and economically. Federal law enforcement here in the Eastern District is fully committed to holding responsible …
Tuesday, March 25, 2008Operation Homewrecker Nets 19 Indictments19 individuals were indicted for mortgage fraud-related offenses under Operation Homewrecker. The leader of this nationwide scam is Charles Head, 33, Los Angeles, California, who targeted homeowners in dire financial straits, fraudulently obtaining title to over 100 homes and stole millions of dollars through fraudulently obtained loans and mortgages. Operation Homewrecker is the product of an extensive investigation by the FBI and IRS Criminal Investigation. The charges are broken out into two separate indictments, “Head One” and “Head Two”. Head One involved a foreclosure rescue scam, netting approximately $6.7 million in fraudulently obtained funds taken from 47 …
3 Arrested In Straw Borrower SchemeMaria Santa, 33; Virgil Santa, 35; and Candit Sava, Jr., 26, all of Sacramento, California, were arrested on charges of mortgage fraud. A criminal Complaint was filed in federal court against the three defendants on March 17, 2008. The complaint alleges that beginning in November 2006, Maria Santa and Candit Sava prepared and submitted loan applications containing false statements as to employment and monthly income, and other false information, of a straw purchaser in order to purchase houses in the name of the straw purchaser. The complaint further alleges that
Monday, March 24, 2008Dorean Group Principals Are SentencedDale Scott Heineman, 48, Union City, California was sentenced by U.S. District Court Judge William Alsup to a prison term of 21 years, eight months and Kurt F. Johnson, 45, Sunnyvale, California to a 25-year term after a jury convicted them in November, 2007 of 35 counts of mail fraud. As previously reported by Mortgage Fraud Blog, Dale Scott Heineman and Kurt F. Johnson, principals with the Dorean Group, were found guilty by a federal jury of all remaining counts in the indictment. Heineman, and
Man Admits Role in Defrauding Mortgage CompanyMichael Umali, 38, a.k.a.”Khadafi," pleaded guilty before New Jersey US District Judge Noel L. Hillman to one count each of conspiracy to launder money and money laundering. Umali’s co-defendant Reginald Greene, 47, a.k.a. ”Amin," who was a federal prisoner originally from Philadelphia at the time of the crime, is charged in all nine counts contained in the Indictment. Judge Hillman remanded the defendant to custody pending sentencing, which is scheduled for June 20, 2008. At his plea hearing, Umali admitted that from July 2003 through December 2004 he agreed with Greene …
Former NFL Player Arrested For Wire FraudReed Kyle Diehl, 29, Coto de Caza, California, was arrested without incident by special agents of the Federal Bureau of Investigation. The arrest was pursuant to a complaint filed in United States District Court in Santa Ana, California that charges Diehl with wire fraud in connection with an offer to secure a line of credit. According to the affidavit in support of the complaint, Diehl told the victim, a Chicago, Illinois housing developer, that he could secure a $24 million line of credit if the victim deposited $2.5 million into a designated account …
Friday, March 21, 2008Businessman Sentenced to 76 MonthsRobert L. Dodsworth, 60, Erie, Pennsylvania, has been sentenced in federal court to 76 months in jail, a $50,000 fine, over $57,000 in restitution and three years supervised release on his conviction of conspiracy and money laundering. As previously reported by Mortgage Fraud Blog and according to information presented to the court by Assistant United States Attorney Christian A. Trabold, Dodsworth and others conspired to falsify mortgage loan applications for home buyers who could not have otherwise obtained a mortgage. Dodsworth and others also accompanied prospective home buyers to the buyers’ banks and …
Las Vegas Metro Officer Charged With MisrepJuanita Goode, a Las Vegas Metro Police Officer, has been charged with felony falsification of mortgage loan papers, according to media reports. The defendants charged include Goode, loan officer Jesus Vega, realtor Shelly Rego, and Melissa Welch.  mortgage fraud
Thursday, March 20, 2008Advance Loan Fee Scam Artist Gets 7 YearsChristopher Stallings was sentenced for his role in an advance fee loan scam. Stallings received a 7 year prison sentence on each count, to be served concurrently and 3 years supervised release on each count, to run concurrently, as well as restitution in the amount of $2,553,500. Stallings must surrender by 2pm on 3/21/08. Christopher Stallings‘ father, Larry Stallings, 55, Watauga, Texas, had already been sentenced to 160 months in federal prison after a jury convicted him on two counts of wire fraud and one count of conspiracy to commit wire fraud based …
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