Friday, August 24, 2007
2 Minnesota Women Indicted for Fraud
Molly L. Heise, 49, Greenfield, Minnesota, owner of real estate closing firm Profile Title & Escrow Corp., and Christine A. Hein, 38, Buffalo, Minnesota, the company’s chief financial officer, were charged in a superceding indictment with multiple counts of criminal wrongdoing, including wire fraud and money laundering.
According to the Superceding Indictment, beginning in June 2002 through January 2004, the defendants conspired to defraud Chicago Title by depositing more than $370 million into a secret account while maintaining the escrow account required and known by Chicago Title with scrupulous adherence. From the “secret” account, Heise transferred $2 million to another account from which she paid personal expenses. After Chicago Title withdrew as underwriter and revoked Profile Title‘s authority to act on its behalf, Heise and Hein continued to function as if Chicago Title was underwriting policies for Profile Title.
Also as part of the scheme to defraud, Heise and Hein failed to satisfy sellers’ prior loans encumbering real property and other payouts according to the HUD-1 Settlement Statement.
mortgage fraud
I went to high school with Christy! woot!
Posted by on 08/31 at 12:25 PM
I went to High School with Christy also. We just had our 20 year Class Reunion in July of this year. I remember asking her what she did for a living. She claimed to have worked @ the Buffalo Golf Course. Ha..Ha.. WHAT A COMPLETE MORAN SHE IS---NEED I SAY MORE?
Posted by on 09/05 at 04:04 AM
Couldn’t happen to a nicer person - Molly is a complete wackjob who would sell your children behind your back. She ruined many people.
Posted by on 12/29 at 12:47 PM
I worked at Profile title, Molly had no idea what Ms.Hein was up to!That women is a lying, cheating bitch!
Posted by on 01/03 at 07:20 AM
I also know Molly personally and as a former employee. She is innocent! Molly would give the shirt off of her back to anyone in need. She’s helped all of her employee’s in one way or another and is a compassionate person. I’ve seen the papers the CFO showed Molly, WE didn’t know that the CFO had falsified them. Molly is guilty of one thing, that was being too trusting (what a shame). I think all the people who has been helped by Molly need to stand up and say enough. The court system has given a plea agreement to the criminal to indict the innocent just because Chicago Title thinks Molly has all this money! What a bunch of crap! Chicago Title had to pay off a lot of people. Maybe even one’s who were up for election. A lot of bad things has happened to a really great woman and her family and it kills me. I know who the player’s were, and I’m telling you Molly is innocent of all charges. And Secure, I know about you also. If it wasn’t for Molly (you called her a wackjob) you would have never been able to open your business. You also owe her… You JackASS
Posted by on 02/07 at 06:56 PM
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Some Sources require Registration.
Mortgage Fraud: Beware the Wolf (Loan Officer) in Sheep's Clothing
24-7PressRelease.com - USA
US consumers looking to refinance their homes or to secure a home loan to purchase their dream homes would be well advised to educate themselves...
Internet Scammer Sells Cape Coral Residential Lot For $18,000
The News-Press - Fort Myers, FL
Because she had title insurance, Kunda will probably get back her money from the 2007 purchase, but the incident highlights cracks in the real estate market and the risk from international scammers who are growing more sophisticated.
Prosecutors Busy With Fraud Cases
Daytona Beach News-Journal - Daytona Beach, FL
The U.S. Justice Department has formed more than 40 mortgage fraud task forces nationwide as prosecutors and investigators struggle with a flood of mortgage-related criminal cases. The FBI reports that its mortgage-fraud caseload has more than doubled in three years to about 1,600 investigations that have cost lenders at least $4 billion. About 200 FBI agents are assigned to the cases, up from 120 a year ago.
Yanchek may take plea deal
Herald Tribune
Sarasota attorney John Yanchek is expected to plead guilty to mortgage fraud next week, statements from a federal prosecutor and the judge presiding over the high-profile criminal case seem to indicate.
Bear Stearns Execs Trial Slated for September
News Inferno
Two former Bear Stearns hedge fund executives are slated to go to trial in September over charges that they lied to investors about two of the funds they managed
Rockford, Chicago lead state in mortgage fraud
Rockford Register Star
Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared with the year-ago period.
Report Finds Tampa No. 2 In Florida For Iffy Mortgages
Tampa Bay Online
In a state that leads the nation in mortgage fraud, Tampa had the second most cases of suspicious loan activity of any Florida city, according to a report released this morning from the Reston, Va.-based Mortgage Asset Research Institute.
Mortgage Fraud Jumps by 45% on Fewer Loan Applications in U.S., Per... MARI
Cloud Computing Journal
Key findings from the MARI Quarterly Fraud Report include that fraud most often occurs at the beginning of the loan process. More than 65 percent of fraud incidents are attributed to "General Application Misrepresentation"
Seven Are Accused Of Identity Theft And Mortage Fraud
The Star Ledger, New Jersey
Seven people have been arrested in connection with an international identity-theft scheme that targeted home equity lines of credit and siphoned at least $2.5 million away from dozens of banks, including more than 10 in New Jersey, according to documents unsealed today.
Suthers Cracks Down On Mortgage Fraud
Rocky Mountain News - Denver, CO
Suther’s office also indicted 10 individuals last March in an $11 million mortgage fraud ring involving 34 local properties...Several other investigations of mortgage fraud are ongoing.
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
More Trial Coverage
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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. 
