Tuesday, April 22, 2008

2 Mortgage Fraud Defendants Violate Terms of Release

Wildor Washington, Jr. and Victoria Bennett were taken into custody after Magistrate Judge David J. Waxse ruled in favor of a motion to revoke their bonds.

Washington and Bennett were charged in November 2007 in an indictment alleging that Washington, Bennett and four co-defendants took part in a mortgage fraud scheme through businesses Washington owned including Heritage Financial Investments, Legacy Enterprises, B&L Custom Development and Liberty Escrow.  According to the indictment, Hamilton and the conspirators prepared fraudulent loan applications and submitted them to lenders in Kansas, Texas, Ohio, Missouri and Michigan.

On Nov. 8, 2007, Washington and Bennett were released on bond subject to conditions including a prohibition against taking part in any illegal activities while on release.

Subsequently, investigators obtained evidence that while on release Washington and Bennett were involved in further incidents of bank fraud and conspiracy to commit mail and wire fraud.

A jury trial is scheduled for Nov. 4, 2008.

mortgage fraud

1. I am so amazed. but really why am i surprised, they people thought they could get away with it once what would make them think any different. throw the book at them I say and lets just hope others see and learn.

   Posted by  on  04/23  at  07:05 PM

2. It was stated this week at the London 2008 commercial mortgage expo that some UK inner city flat developements could aspect a 50% decrease in value in the near future.

   Posted by  on  05/03  at  11:15 AM

3. Estate agents have stated that approximately a third of property purchases are failing due to the increased difficulty in obtaining home finance and that buyers can be choosey and put in very low offers because it is a buyers’ market. There is a fear prices may drop some way. The problem is that it is the fear that kills demand, people feel nervous so do not buy, nobody wants to catch falling knifes.

   Posted by  on  05/03  at  11:17 AM

4. Recently banks have suddenly pulled many prime deals and increased their rates and fees without warning to take shelter in the current market of no liquidity where lenders do not feel confident lending to each other. The
   America finance Federal Reserve Chairman Ben Bernanke has warned of a possible recession on the horizon. This would directly effect the UK.

   Posted by  on  05/03  at  11:19 AM

5. What is most definately sad is that These individuals did not just partake in fraud against lenders but they also victimized many innocent people in order to get the funds that they obtained and the victims are swept under a rug by the government and agents. I was one of these un lucky people to fall trap to Mr. Washington and Victoria Bennett. They lied, cheated, manipulated with everyone involved. I am the victim that gave the FBI the information during their investigation that revoked their bonds. I have been sadened by the lack of concern that the government, the FBI and lawyers show when it comes to the people that have been victimized. Those victoms are thrown aside and ignored through out the whole case. No one is helping the victims get through the tramatic and financially devistating situation that people like Mr. Washington has destroyed. He put me in a downfall of a million dollars. I know of 27 other woman that he did this too and absolutely none of them will be heard at his trial. None of them has even been informed of or kept in the loop of what is taking place. It is extremely hard to pick up your life and move on when you have been victimized in the mortgage industry. It discusts me that the only ones that will get justice and be heard are the financial institutions, the lenders. I want to start some kind of public awareness, let my story be heard. I went through almost 3 years of this crap and the end is no where in sight. I am a single mother with four children so picking up the pieces after something like this will be long and hard. Stories need to be told. People need to know how easy it is to be taken advantage of in an industry where we thought we were safe.

   Posted by  on  03/18  at  09:52 AM