Wednesday, October 15, 2008
5 Indicted In Texas Mortgage Fraud Scheme
The indictment alleges that Anthony Wayne Hawkins, 48, Brandon Alonzo Crenshaw, 27, Nehemiah Jamal Douglas, 28, Babette Jammer, 47, and David Vasser, 59, engaged in a mail and wire fraud conspiracy which resulted in the defendants and their co-conspirators fraudulently obtaining more than $17 million in loan proceeds. The defendants and their co-conspirators are accused of recruiting individuals to purchase residential properties with the intent to deceive mortgage lenders concerning the borrower’s ability and incentive to repay the loans. According to the indictment, falsified documents were prepared and provided to the mortgage lenders to support loan applications.
The indictment lists the following properties:
17919 Beaver Creek Dr., Houston, Texas;
16634 Lafone Dr., Spring, Texas;
2638 Forge Creek, Houston, Texas;
739 East 8th St., Houston, Texas;
1034 Adele St., Houston, Texas;
4210 Bayglen Ct., Houston, Texas;
16319 Cochet Spring Dr., Spring, Texas;
6315 Laver Love Dr., Spring, Texas;
6702 Springfield Garden Ln., Spring, Texas;
3826 Rowlock Vine Dr., Houston, Texas;
927 Robbie St., Houston, Texas; and
5303 Oakdale Creek Ct., Spring, Texas.
All five defendants have been arrested by special agents of the FBI and IRS-CI and are expected to appear before a U.S. Magistrate Judge. Count one, charging conspiracy to commit mail and wire fraud, and counts two through six, alleging wire fraud, each carry a possible maximum penalty of 20 years in prison and a $250,000 fine.
Hawkins, Crenshaw, Douglas and Vasser are also charged in counts seven through twelve with engaging in monetary transactions with the proceeds of the scheme and the conspiracy to do so. The indictment alleges that bank accounts were opened in business entity names to deposit and transfer the fraudulently obtained loan proceeds. The maximum possible penalty for a conviction under counts seven through twelve is 10 years in prison and a $250,000 fine.
“Those who seek to take advantage of the American Dream of home ownership and those who prey upon others in these dire economic times will most certainly be held accountable,” U.S. Attorney DeGabrielle said.
“The FBI remains committed to continuing its efforts to vigorously address mortgage fraud and ensure that the strength and integrity of the nation’s financial sector are sustained,” said Bland. “Moreover, it is imperative that those who engage in this pernicious crime, and thereby undermine the economic vitality of our communities, are held fully accountable for their actions.”
“Mortgage fraud, like all financial crimes, threatens the overall health of our financial institutions and erodes the integrity of our tax system,” Clarke said. “Additionally, these types of crimes drive buyers into foreclosure, leave lenders burdened with bad loans and neighborhoods with abandoned and deteriorating properties. IRS Criminal Investigation is committed to working with its law enforcement partners to pursue individuals who commit these types of crimes.”
The criminal charges are the result of a joint investigation being conducted by agents of the FBI and IRS-CI. Assistant U.S. Attorney Melissa Annis is prosecuting the case. An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless and until convicted through due process of law.
mortgage fraud
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The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
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In San Francisco, Mr. Russoniello said he is trying to crack down on cases like mortgage fraud, though he doesn't have the budget to hire additional white-collar prosecutors.
Arrests Made in Orlando Mortgage Fraud Roundup
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During the real estate boom two years ago, some units were going for a half million dollars. Now some are short selling for just 50 grand.
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Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration...
Mortgage Fraud Probe Nets 105 Across State
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At least one local man is among 105 people arrested across the state following a nine-month investigation into organized mortgage fraud.
Mortgage Fraud Increases
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The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
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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 
