Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
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 Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
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Suren Agadzhanov, 42, Atlanta, Georgia, was sentenced to 3 years, 10 months in federal prison to be followed by 5 years of supervised release for his role in fraudulently applying for work visas for over 70 aliens and for using the proceeds from his visa fraud scheme to engage in mortgage fraud. Several of Agadzhanov’s mortgage fraud conspirators were also sentenced to lesser terms in prison.
According to Nahmias and the information presented in court: In 2002, Agadzhanov began fraudulently obtaining work visas for individuals from eastern Europe—primarily the Baltic republics of Latvia and Lithuania—who had legally entered the United States and desired to extend their stay beyond the term of their legitimate tourist or educational visas. Agadzhanov charged his “clients” thousands of dollars to complete and submit false paperwork claiming that the individuals would be working for one of a stable of fictitious companies Agadzhanov had established out of his home. Agadzhanov fabricated information about the jobs—responsibilities, salary, location, etc.—as well as the companies. He would, at times, even include fake tax forms as evidence of the size and existence of the sham businesses. Agadzhanov also submitted bogus educational credentials for many of the visa-seekers. Since neither the companies nor the jobs existed, his “clients,” if granted work visas, would be illegally in the United States.
As the various federal agencies responsible for coordinating and executing the alien work visa program began to uncover Agadzhanov’s visa fraud scheme, more and more of his sham applications were rejected. Eventually, Agadzhanov got out of the visa fraud business altogether and started investing the proceeds from that fraud in local Atlanta, Georgia residential real estate. Typically, Agadzhanov would find a property in foreclosure, buy it, and then “flip” the house to one of his visa “clients” at an inflated price. That buyer would never move in and the house would quickly fall back into foreclosure. The loan applications for both Agadzhanov’s purchases and the purchases by Agadzhanov’s phony buyers all had false information concerning the borrowers’ employment and income—often with the same fake companies that Agadzhanov created for his visa fraud scheme.
United States Attorney David E. Nahmias said of the case, “Border security and immigration control are of paramount importance in this era of increased threats from abroad. Agadzhanov circumvented federal laws designed to allow those who can legally stay in this country to work. He knowingly submitted false paperwork on behalf of dozens of foreign nationals, and used his ill-gotten gains to defraud banks and other lending institutions in a mortgage swindle.”
This case was investigated by the State Department, Diplomatic Security Service (DSS), U.S. Immigration and Customs Enforcement, the Department of Labor, the Federal Bureau of Investigation, and the United States Postal Inspection Service.
Assistant United States Attorney Robert McBurney prosecuted the case.
Here’s where some CC companies get you. All of them offer great rewards POTENTIAL. Sorry for the caps but it’s important. The truth is you have to find out what the qualifying purchases are. The best ones are the cards you get points for paying your utility bill and gas. Most people have to buy gas and have utility payments why not use your card and get the points. Just save the money you normally do for those payments and send it to the CC.
Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
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 
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