Friday, October 18, 2002
Attorney Admits Conspiring with West New York Businessman Rene Abreu to Commit Mail Fraud
An attorney licensed to practice in New Jersey pleaded guilty to conspiring with Hudson County businessman Rene Abreu and others to commit mail fraud, U.S. Attorney Christopher J. Christie announced.
Ciro Mederos, 43, of Teaneck, New Jersey whose law practice is in Union City, New Jersey pleaded guilty to a one-count Information, charging him with conspiring with Abreu and other employees and associates of The Mortgage Pros, Inc., to defraud several financial institutions by fraudulently submitting fictitious loan-related documents to these institutions. The goal was to induce the institutions to issue residential loans to clients of The Mortgage Pros, Inc., according to Assistant U.S. Attorneys Carlos Ortiz and Deborah Goldklang.
Abreu was one of 11 individuals indicted in a 43-count Indictment in May, 2002. The Indictment charged multiple conspiracies including mail fraud, extortion and cash structuring in excess of $2 million, as well as several bank fraud schemes, money laundering, bribery of bank officials and more.
Mederos appeared before U.S. District Judge Joseph A. Greenaway, Jr. to plead guilty in a cooperating plea agreement with the U.S. Attorney’s Office. No sentencing date was set. The charge carries a maximum penalty of 5 years in prison and a $250,000 fine.
The West New York corruption investigation continues.
Mederos admitted that his responsibilities as an attorney included representing buyers and sellers at real estate closings for buyers who had obtained mortgages through The Mortgage Pros, Inc. Mederos further admitted entering into an illegal agreement with Abreu and others to prepare, sign and submit false HUD-1 settlement statements containing materially false information on behalf of clients of The Mortgage Pros, because these clients did not have the financial means necessary to obtain loans through legitimate means.
mortgage fraud
Post a Comment
The trackback URL for this entry is:
Trackbacks:
|
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
|
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
|
|
|
|
|
|
|
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. 
