Friday, March 05, 2010
“The King of Bling” and His Wife Indicted for Investment Fraud
John Michael Sheehan, 50, and Alesia Claremae Sheehan, 49, Springfield, Missouri, were indicted by a federal grand jury for their roles in a $1 million real estate investment scheme. The Sheehans were charged in a 22-count indictment returned by a federal grand jury in Springfield. Missouri.
The indictment alleges that, from June 1, 2005,...
Three Members of a Reverse Mortgage Fraud Ring Charged
Jonathan Alfred Kimpson, 27, Lithonia, Georgia, and Gia Harris, 26, Atlanta, Georgia, have been indicted by a federal grand jury on charges of conspiracy to commit financial institution fraud involving so-called "reverse" mortgages. Kimpson was also charged with aggravated identity theft and wire fraud. Kelsey Torrey Hull, 38, Lithonia, Georgia,...
Man Arrested for Falsely Promising to Flip Homes for a Profit
William Warren Baker, 57, Laguna Nigel, California, was arrested for stealing over $900,000 from investors in a Ponzi scheme by fraudulently promising to buy, refurbish, and re-sell distressed homes for a profit. Baker is charged with 13 felony counts of using untrue statements in the purchase or sale of securities and 13 felony counts of...
Two Reverse Mortgage Brokers Sued For Deceptive Practices
Hartland Mortgage Centers, Inc., Woodridge, Illinois, and American Advisors Group, Inc., Irvine, California, and its company president, Reza Jahangiri are being sued for using unfair and deceptive marketing practices to solicit seniors for reverse mortgages.
In each of the lawsuits filed, Attorney General Lisa Madigan, alleges that the...
Woman Sentenced for Role in Mortgage Fraud Case
Latoya Dawkins, 28, of Augusta, Georgia, was sentenced to imprisonment for 12 months and 1 day for making a false statement to a bank in a mortgage application. Dawkins was also ordered to pay $253,000 in restitution. Dawkins entered a guilty plea in July 2009 to one count of making a false statement to a federally insured bank in violation of...
Florida Couple Charged in Real Estate Investment Scam
Gaston E. Cantens and Teresita Cantens, Miami, Florida, have been charged with fraud for conducting a $135 million Ponzi scheme with real estate investments from hundreds of elderly Cuban-American investors living in South Florida. The Cantens are the founders and co-owners of real estate development company Royal West Properties Inc. They sold...
Thursday, March 04, 2010
Man Arrested for Buying Real Estate With Stolen Identity
John Melchionna, 42, a former Linden, New Jersey, resident was arrested and charged with 13 separate counts after an investigation revealed that he used another man's identity to secure $270,000 in loans. Melchionna a faces charges of theft by deception, identity theft and forgery.
According to the complaints, Melchionna used the money, obtained...
Legacy Lending Owner Admits Mortgage Scam
Thomas John Hunter, 30, Maple Grove, Minnesota, part owner of Legacy Lending, pleaded guilty to participating in a mortgage fraud scheme that involved 37 separate real estate transactions and $20 million in loan proceeds. Hunter pled guilty to one count of wire fraud and one count of money laundering in connection to this crime. He was charged...
Woman Arrested In Real Estate Fraud Cases
Angela M. Moore, 42, a Florida resident, has been charged with a scheme to defraud, grand theft, and operating as a real estate broker without a license in a case involving online real estate sales.
The initial investigation began in October 2008 when the Florida Office of the Attorney General received a complaint and referred it to the Lee...
2 Sentenced for Escrow Fraud
Derrick Beaulieu, 38, and Shawnzell Venson, 37, both of New Orleans, Louisiana, were sentenced (Beaulieu, Venson) in federal court after pleading guilty last year to one count of conspiracy to steal government funds and wire fraud involving elderly individuals' Road Home grants. Beaulieu was sentenced to thirty (30) months imprisonment and ...
Ex-Loan Officer Sentenced for Creating False Loan Documents
Lynn Ingle, 36, Burleson, Texas, a former loan officer, was sentenced for one count of conspiracy to make false Entries to U.S. Department of Housing and Urban Development (HUD), in connection with a mortgage fraud scheme.
According to court documents, Ingle was charged with creating false loan documentation to qualify borrowers for FHA loans in...
Attorney Charged with Settlement Statement Fraud
Stephen M. Gunther, Virginia Beach, Virginia, has been charged wire fraud related to a scheme to defraud mortgage lenders.
Per court documents, Gunther, an attorney, acted as a settlement agent in connection with the closing of residential real estate loans in Virginia Beach, Norfolk, and Chesapeake, Virginia. Gunther is accused of preparing and...
5 Plead Guilty to Mortgage Fraud Charges
Troy Bossert, 32, San Antonio, Texas, Tyler Forrey, 28, Cape Coral, Florida, Ryan O'Brien, 34, Cape Coral, Florida, Stephen Petrovich, 35, Cape Coral, Florida, and Steven Reese, 32, Cape Coral, Florida have each agreed to plead to an Information charging them with one count of conspiring to commit bank fraud and wire fraud and one count of...
Wednesday, March 03, 2010
Man Admits Racketeering Charges in Mortgage Fraud Scam
Hector L. Rivera, Ocala, Florida, has been convicted for racketeering in relation to a mortgage fraud scheme.
The conviction resulted from a plea agreement with the State Attorney's Office. Rivera was sentenced to eight years in prison and ordered he pay restitution of $100,000 to lender Taylor, Bean & Whittaker and $100,000 to the Attorneys...
Home Builder Ordered to Pay Restitution & Penalties
Jacquelyn Willis, and her Maryland company, Home at Last, LLC, have been ordered to refund payments of $211,076.20 collected from consumers to construct homes in Prince George's County, Maryland and to pay penalties of $75,200. It was found that Willis, and her company, Home at Last, violated Maryland's Custom Home Protection Act by failing to...
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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 
