Wednesday, March 12, 2008
Appraiser Pleads Guilty To Accepting Suggested Valuations
Martine Yanisse Castrillon, 30, Miami, Florida, pled guilty to two counts of wire fraud, in violation of Title 18, United States Code, Section 1343. Castrillon faces a statutory maximum sentence of twenty (20) years in prison on each of the wire fraud counts and a fine of up to $250,000 on each count. Sentencing is scheduled for May 22, 2008.
Castrillon is one of fifteen defendants charged in a wide-ranging mortgage fraud scheme in United States v. Henry Quintero-Lopez et. al. Case No 07-60207-CR-ZLOCH, known as Operation Whose House. According to the Indictment in the case, the defendants and their co-conspirators orchestrated a scheme through which they located properties for sale in the Southwest Ranches area of Broward County, Florida, fraudulently purchased the properties using straw buyers, and received cash back at the closings. To date, nine defendants have pled guilty to various federal charges in the Indictment.
According to the Indictment, co-defendants Quintero-Lopez and Villalba would offer the owner’s full asking price and then inflate the contract purchase price to allow their companies, New World International and D&H Investments of South Florida to receive a finder’s fee, assignment fee and/or additional funds to allegedly construct improvements to the properties, thus creating instant equity. Quintero-Lopez and Villalba would then recruit individuals, who for a fee would act as straw buyers of the properties. Quintero-Lopez and Villalba would obtain fraudulent pay stubs, IRS Form W-2s, verification of employment, and verification of deposit forms. These documents would be submitted to cooperating mortgage brokers.
Castrillon, an appraiser trainer, admitted that she did fraudulent appraisals for Quintero. During her plea, Castrillon admitted that she appraised the properties at the amount requested by Quintero, not the true market price, and forged the name of the certified appraiser who was to review her work.
mortgage fraud
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The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
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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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A Wyoming woman is facing felony charges accusing her of stealing her sister's identity to obtain a mortgage...then defaulting on that mortgage, leaving taxpayers on the hook.
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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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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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